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United Internet to buy rest of Versatel for EUR 586 mln
2014-09-03 09:21:00| Telecompaper Headlines
(Telecompaper) United Internet has agreed to buy the rest of Versatel from private equity fund KKR. United Internet acquired 25.1 percent in Versatel at the end of 2012 and will pay EUR 586 million cash for the remaining 74.9 percent. The company will take out new loans to finance the takeover, as well as the repayment of Versatel's EUR 361 million in bank facilities. The acquisition gives United Internet the second-largest fibre network in Germany, extending around 37,000 km to 226 cities, including 19 of the 25 largest cities in the country. Over 5,000 buildings are connected directly to the network, and Versatel also has around 440,000 DSL connections. This raises United Internet's DSL customer base to 4.12 million, strengthening its position as the second-largest provider in the market. Versatel is expected to generate revenues of EUR 548 million and EBITDA of EUR 164 million this year, as well as free cash flow of EUR 79 million. Its current management will remain in place, and the Versatel brand will be retained. United Internet plans to strengthen the company's B2B business, as well as serve corporate customers more under its own brand 1&1. Sourcing DSL pre-services produced by Versatel will also save the group around EUR 55 million per year.
Iliad H1 revenues up 10.4% to over EUR 2 bln
2014-09-01 09:26:00| Telecompaper Headlines
(Telecompaper) French operator Iliad reported first-half revenues of EUR 2.02 billion, up 10.4 percent from a year earlier. Revenues from its fixed broadband business rose 3.6 percent to EUR 1.28 billion, and the mobile business expanded 24.1 percent to EUR 745.7 million in revenues. Iliad said it added 95,000 broadband customers in the period, for a total 5.735 million at the end of June. Despite an increase in VAT on TV services and sharp discounts form some competitors, the Free brand continued to add customers in the fixed market, accounting for an estimated 24 percent of net adds on the market. ARPU was relatively stable, at EUR 35.80 per month. In the mobile market, Free claims it took over 65 percent of net adds, growing its base by over 1 million customers to reach more than 9 million at the end of June, equal to a 13 percent market share. Iliad said its mobile phone financing offer launched last December helped sustain customer growth, even though this impacted profitability. A majority of new customers also still take the company's plan at EUR 2 a month. The handset sales, VAT increase, end to asymmetric termination rates and higher spending on fixed network upgrades led to a drop of 1 percent point in the EBITDA margin to 30.9 percent. Total EBITDA increased 6.6 percent to EUR 624.2 million, while net profit was down 1.3 percent to EUR 139.9 million, due to higher depreciation after the launch of 4G services.
Telecom Italia offers EUR 7 bln for GVT, Telefonica ups bid
2014-08-28 08:38:00| Telecompaper Headlines
(Telecompaper) Telecom Italia has made a EUR 7 billion cash-and-share offer for Vivendi's fast-growing Brazilian broadband unit GVT, prompting a bidding war with Telefonica, which almost immediately responded with a EUR 7.45 billion offer. Telecom Italia's proposal envisages a merger between GVT and the Italian operator's Brazilian unit Tim Brasil, with Vivendi taking a stake of around 15 percent in the combined company and 20 percent in Telecom Italia itself. The cash payment, meanwhile, will come from a capital increase by Tim Brasil. Overall, Telecom Italia confirmed that the bid was made up of 24 percent in cash and around 76 percent in shares and will be valid until 20 September. Shortly after Telecom Italia released the details of its bid, Telefonica made a new offer for GVT worth EUR 7.45 billion, up from its 05 August proposal of EUR 6.7 billion. Telefonica said it would pay EUR 4.66 billion in cash and offer Vivendi a 12 percent stake in the new combined group to be created from the merger of GVT and Telefonica Brasil. Telefonica, whose offer expires on 29 August unless the two parties agree to an extension, also offered Vivendi an option to buy an 8.3 percent stake in Telecom Italia.
Sonoco to Acquire Europe's Weidenhammer Packaging for EUR 286 Million
2014-08-25 17:44:34| Industrial Machines - Topix.net
Based in Hockenheim, Germany, Weidenhammer Packaging is a leading provider of composite cans along with composite drums and rigid plastic containers.
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Vodafone to acquire Greek operator HOL for EUR 73 mln
2014-08-22 14:12:00| Telecompaper Headlines
(Telecompaper) Vodafone has agreed to buy control of Greek broadband provider Hellas Online. Vodafone already holds an 18.4 percent stake in HOL since 2009, and the two work together in the market bundling fixed and mobile services. Vodafone Greece has agreed to acquire another 72.7 percent of HOL from Intracom for EUR 72.7 million cash. The transaction values the fully diluted equity of HOL at EUR 100 million and is equivalent to an enterprise value of EUR 311 million including HOL's adjusted net debt of EUR 211 million. HOL had 519,000 customers at the end of 2013 and generated revenue of EUR 227.4 million, EBITDA of EUR 68.4 million and capex of EUR 36.7 million last year. The takeover price values the company at 4.5 times annual EBITDA. Vodafone expects to achieve cost and capex synergies with an annual run-rate of EUR 24 million before integration costs by the third full year after completing the acquisition. The synergies will come from sharing network and IT infrastructure, savings on marketing and bill collections, and rationalisation of overlapping functions.
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