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Etisalat confirms Maroc Telecom acquisition for EUR 4.2 bln
2013-11-05 09:01:00| Telecompaper Headlines
(Telecompaper) Etislat has signed a definitive agreement to acquire Vivendi's 53 percent stake in Maroc Telecom for EUR 4.2 billion cash. The companies have been in exclusive talks on the deal since July. The sale is part of Vivendi's strategy to focus its businesses around media and content activities; it's also considering a spin-off of its French telecom operator SFR. Pending regulatory approval, the Maroc Telecom sale is expected to close in early 2014. The Moroccan operator's other shares are owned by the government or publicly listed.
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Alcatel-Lucent to raise EUR 1.5 bln with rights issue, bonds
2013-11-04 09:53:00| Telecompaper Headlines
(Telecompaper) Alcatel-Lucent has announced plans to raise fresh capital to strengthen its balance sheet, including a rights issue worth EUR 955 million. Existing shareholders will have the right to buy new shares at EUR 2.10 each, a steep discount to the closing price of EUR 2.97 per share the day before the offering was announced. If the offering is fully subscribed, it will result in the issue of around 460 million new shares, or around a fifth of the current outstanding total. In addition, Alcatel-Lucent announced a high-yield bond offering worth USD 750 million and a new syndicated revolving credit facility of EUR 500 million. The new financing is expected to strengthen the company's equity and provide funding for its ongoing 'Shift Plan' to narrow its operations and restore profitability.
Vivendi to buy rest of Canal+ for EUR 1.02 bln
2013-10-29 08:38:00| Telecompaper Headlines
(Telecompaper) Vivendi said it has reached an agreement to buy Lagardere Group's 20 percent stake in Canal+ France for EUR 1.020 billion in cash, giving Vivendi 100 percent control of the company. The agreement follows mediation at the Paris commercial court and puts an end to their legal dispute over the French pay-TV joint venture. Lagardere and Canal+ will continue to work together on programme production and publishing and distribution of TV channels.
Numericable looking to raise EUR 652.5 mln from IPO
2013-10-28 11:51:00| Telecompaper Headlines
(Telecompaper) French cable operator and MVNO Numericable is looking to raise around EUR 652.5 million during its upcoming initial public offering, Bloomberg reported. Numericable is offering the shares at EUR 20.30-24.80 per unit. Carlyle Group and Cinven Group are selling stock valued at about EUR 402.2 million, accounting for the majority of shares for sale. Pricing will be decided on 7 November, with trading scheduled to begin the following day in Paris. Private-equity firm Altice will become Numericable's biggest shareholder with a 30 percent stake after the IPO. A greenshoe has also been granted, so that Carlyle and Cinven may increase the Numericable shares they sell by 15 percent. Should those shares be fully subscribed, Carlyle's holding will fall to 24.5 percent, and Cinven's to 15.2 percent. JPMorgan Chase and Deutsche Bank are managing the share sale.
AMC Networks buys Chellomedia for EUR 750 mln
2013-10-28 11:18:00| Telecompaper Headlines
(Telecompaper) AMC Networks has agreed to acquire Liberty Global's broadcasting arm Chellomedia for EUR 750 million. The transaction is expected to close in the first quarter of next year. The acquisition will provide AMC Networks with a broad array of television channels distributed to more than 390 million households in 138 countries. The agreement includes the acquisition of Chellomedia's operating businesses, including Chello Central Europe, Chello Latin America, Chello Multicanal, Chello Zone, the ad sales unit Atmedia and the broadcast solutions unit Chello DMC.
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