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Mitel to buy Mavenir Systems for USD 560 mln
2015-03-02 09:04:00| Telecompaper Headlines
(Telecompaper) Mitel has signed a definitive deal to take over networking equipment provider Mavenir Systems for USD 560 million. Mitel will acquire all of Mavenir's outstanding shares in a cash and stock deal. Mavenir stockholders will get either all-cash or all-stock for each Mavenir share, with a value of USD 11.08 plus 0.675 of a Mitel common share, or USD 17.94 based on the Mitel closing price on 27 February. Upon closing, Mavenir will become the mobile business division of Mitel, operating under the brand Mavenir. Pardeep Kohli will join Mitel in the role of Mavenir president, reporting to Rich McBee. With the acquisition, Mitel expects to expand its total addressable market by USD 14 billion by 2018, and be well positioned to capitalize on increasing demand for LTE services. The deal extends Mitel's service provider and mobile operator footprint to over 130 operators, including 15 of the top 20 mobile carriers worldwide, covering 2 billion subscribers. Mitel said it will finance the deal using cash on hand and with proceeds from new senior secured credit facilities.
Abertis acquires Wind's Italian tower asset for EUR 693 mln
2015-03-02 08:26:00| Telecompaper Headlines
(Telecompaper) Spanish infrastructure company Abertis has announced the acquisition of 90 percent of the shares of the mobile tower unit of Italian operator Wind for EUR 693 million. The Italian subsidiary of Russia's Vimpelcom will retain a ten percent stake in Galata, the unit it set up last month consisting of 7,377 towers plus employees and related contracts. Wind confirmed that the transaction is expected to close within the first quarter of 2015, and that proceeds from the sale will used by the operator to further reduce its debts. In addition, Wind will enter into a 15-year tower services agreement with Galata for the provision of a broad range of services on the mobile tower sites as well as on sites subsequently built by Galata hosting Wind equipment. Abertis outbid rival offers from Mediaset-controlled EI Towers, Italian investment fund F2i and American Tower to secure Wind's tower asset.
Sucden, ED&F Man expected to scoop up 1 mln T of sugar ICE delivery
2015-03-02 07:22:11| Sugar Industry News
Feb 27 (Reuters) - ED&F Man and Sucres & Denrees (Sucden) are expected to buy just over 1 million tonnes of raw sugar against the March ICE contract that expired on Friday, raising questions about whether the larger-than expected purchase has homes as prices tumble.
Tags: man
delivery
expected
ice
Hellenic Sugar EBITDA loss widens to 25.52 mln euros
2015-03-02 07:22:11| Sugar Industry News
H2 net loss figures to 39.76 million euros versus loss of 14.36 million euros year ago. A Hellenic Sugar Industry spokesman corrected a statement earlier issued by the company
3 Group service revenues up 9% in 2014, passes 25 mln subs
2015-02-26 14:11:00| Telecompaper Headlines
(Telecompaper) The 3 Group grew its active customer base 13 percent in Europe last year to over 25.0 million at year-end. The mobile operator recorded revenues of HKD 65.6 billion in Europe, up 6 percent from 2013, and mobile service revenues rose 9 percent to HKD 49.5 billion. The company increased EBITDA 23 percent to HKD 15.6 billion, the EBITDA margin improved to 30 percent from 27 percent in 2013, and EBIT rose 42 percent to HKD 6.9 billion, parent company Hutchison Whampoa reported. With the exception of Italy, all operations in 3 Group Europe increased their contributions to group earnings during the year. The company said it profited from cost synergies in Austria and Ireland after its takeovers there, and the group will continue to look for consolidation opportunities in its markets.
Tags: service
group
passes
revenues
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