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Ooredoo pulls out of bid for Maroc Telecom
2013-06-17 07:13:00| Telecompaper Headlines
(Telecompaper) Qatar-based Ooredoo has withdrawn its bid for Vivendi's 53 percent stake in Maroc Telecom, leaving rival Etisalat as the remaining bidder, Reuters reports. Jeremy Sell, Ooredoo's chief strategy officer, said valuation and frustration with the process are the reasons why Ooredoo dropped its bid. Sources told Reuters in May that Etisalat's bid was higher than Ooredoo's, though it contained more conditions and needed more work than the Qatari bid. The stake is worth EUR 4.2 billion at current market valuations. Sources told Reuters that a final announcement could be made in the coming weeks as Etisalat has agreed to remove some legal conditions that were hampering its bid.
Kabel Deutschland demands improved bid from Vodafone
2013-06-17 02:00:00| Total Telecom industry news
U.K. mobile operator will need to raise bid to around 11 billion, according to newspaper report.
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ISS reverses position after Clearwire board supports Dish bid
2013-06-14 02:00:00| Total Telecom industry news
U.S. operator's board also recommends shareholders vote against Sprint deal at 24 June meeting.
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Clearwire Board Chooses Higher Dish Bid Over Sprint
2013-06-13 22:34:27| MobileTechNews
Clearwire's Board recommends shareholder approval of the DISH buyout bid, putting pressure on Sprint to increase its offer.
Clearwire board recommends Dish takeover bid
2013-06-13 08:39:00| Telecompaper Headlines
(Telecompaper) The independent members of US Wimax operator Clearwire's board have recommended shareholders accept a takeover offer from Dish Network, rather than the buy-out proposed by majority shareholder Sprint. Clearwire previously endorsed Sprint's offer, prompting Dish to raise its bid. Dish is offering USD 4.40 per share for Clearwire, while Sprint has bid USD 3.40. To give shareholders more time to consider, Clearwire is rescheduling the vote on the deals from 13 June to 24 June, and Dish has extended its offer until 2 July. The Dish offer is conditional on acquiring at least 25 percent of Clearwire shares. Dish said just over 245,000 Clearwire share had already been tendered in the offer. Sprint said it was reviewing the Clearwire statement and would continue to enforce its governance rights. Separately it filed an investor presentation with the SEC outlining its support for Softbank's takeover bid for Sprint. Dish still has until 18 June to make a final offer for Sprint.
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