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Telecom Italia sells historic Milan HQ for EUR 75 million

2014-04-01 09:27:00| Telecompaper Headlines

(Telecompaper) Telecom Italia has announced the sale of its historic headquarters in Milan's Via Negri to Fondo Inarcassa RE for EUR 75 million. However, the company specified that it had signed a long-term rental contract at the same time as the deed of sale, so the building will remain the Milanese headquarters of Telecom Italia for the foreseeable future. Located in one of the most sought-after locations in Milan city centre, very close to the Piazza Affari stock exchange and the Duomo, the 11,600 square meter building has 6 floors above ground and was completely refurbished in 2007. It is mainly filled up with offices, but also houses a telephone exchange on the ground floor and basement. The sale is part of a major real estate rationalisation plan encompassing some 14,000 buildings, with Telecom Italia looking to reduce annual rental costs that currently stand at around EUR 700 million.

Tags: eur million italia historic

Syngenta announces successful EUR 750 million Eurobond issues

2014-03-28 14:31:55| Chemicals - Topix.net

These bond issues are part of our normal funding requirements and the positive market reception demonstrates is one of the world's leading companies with more than 28,000 employees in over 90 countries dedicated to our purpose: Bringing plant potential to life.

Tags: issues eur million successful

Bouygues adds EUR 500 mln break-up fee to SFR bid - report

2014-03-25 08:39:00| Telecompaper Headlines

(Telecompaper) French conglomerate Bouygues did not only improve the cash element of its takeover bid for Vivendi's operator SFR, but also included a break up-up fee of between EUR 500 million and EUR 1 billion if the competition authority blocked the operation, a person familiar with the matter told La Tribune newspaper. The break-up fee would also be used if the authority imposed remedies that offset the estimated EUR 10 billion of synergies to be gained from the acquisition. Another source close to the discussions confirmed the existence of a break-up fee, but said it amounted to a maximum of EUR 500 million. Bouygues, which is offering Vivendi EUR 13.15 billion plus a 21 percent stake for Vivendi in the merged Bouygues Telecom-SFR, would not comment on the matter. Vivendi is in exclusive negotiations with cable operator Numericable's parent company, Altice, until 4 April about its rival bid of EUR 11.75 billion plus a 32 percent share for Vivendi in a combined Numericable-SFR. Separately, sources told the Wall Street Journal that Numericable does not plan to raise the value of its bid.

Tags: report eur fee bid

Vodafone launches FTTH service in Spain from EUR 54/mth

2014-03-24 11:17:00| Telecompaper Headlines

(Telecompaper) Vodafone Spain has officially launched its FTTH service throughout Spain at prices starting from EUR 54 per month. The 100 Mbps download and 10 Mbps upload service will be available from 01 April in 800,000 households in Madrid, Barcelona, Seville, Malaga, Valencia and Zaragoza, subsequently expanding to Cordoba, Alicante, Valladolid, Vigo, Alcorcon, Badalona and Hospitalet de Llobregat. The convergent fibre and mobile bundles range from Smart S, which comes with 200 minutes in mobile calls and 600 MB in mobile data for EUR 54 per month (including line rental and VAT), to Red XL, which comes with unlimited mobile calls and 4 GB in mobile data for EUR 90 per month. All bundles include 100 Mbps fibre broadband, unlimited fixed line calls and 50 minutes of fixed to mobile calls per month.

Tags: service eur spain vodafone