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Sprint Takes $1.9 Billion Charge To Write Down Brand Name
2015-02-05 15:10:22| IT Services - Topix.net
Sprint Corp. wrote down the value of its brand name by $1.9 billion in its December quarter, helping drag the wireless carrier to a wider loss than a year ago. Still, Sprint lost fewer of the industry's most lucrative subscribers in the period.
Pfizer buying Hospira for about $15.23 billion
2015-02-05 14:25:12| Biotech - Topix.net
In this May 4, 2014 file photo, the Pfizer logo is displayed on the exterior of a former Pfizer factory in the Brooklyn borough of New York.
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BT agrees to buy EE for GBP 12.5 billion
2015-02-05 08:52:00| Telecompaper Headlines
(Telecompaper) Deutsche Telekom and Orange have reached an agreement to sell their UK joint venture EE to BT for GBP 12.5 billion. BT expects annual cost and capex synergies of GBP 360 mllion within four years of closing the takeover, as the two operators combine their sales, marketing and administration and networs. As it takes advantage of cross- and up-selling opportunities, the revenue synergies are expected to reach a total GBP 1.6 billion. Adjusted for the value of the synergies, the takeover price values EE at 6.0 times its EBITDA in 2014. Deutsche Telekom will become the largest shareholder in BT with a 12 percent stake and may also receive a cash payment, depending on BT's share price at closing of the deal. Orange will receive a 4 percent stake in BT. The shares in BT will be subject to an 18-month lock-up period. In addition, the German operator will hold a seat on BT's board. The transaction requires approval of BT's shareholders and regulatory authorities. Closing is expected before the end of March 2016.
Verizon to sell assets worth $10 billion to Frontier: source
2015-02-05 02:36:37| IT Services - Topix.net
Verizon Communications is close to selling wireline assets worth $10 billion to regional telephone operator Frontier Communications Corp, a person familiar with the matter said on Wednesday. The largest U.S. carrier by subscribers, Verizon has been investing heavily in growing its wireless business while reducing spend on its broadband Internet and telephone services.
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Whirlpool could take $1 billion revenue hit from strong dollar: CEO
2015-02-04 21:58:26| Appliances - Topix.net
If the U.S. dollar stays at current levels, Whirlpool Corp's revenue could take a hit of up $1 billion in 2015, but the world's largest appliance maker expects to protect its profits, Chief Executive Officer Jeff Fettig told Reuters on Wednesday. Raising prices in some foreign markets should offset some of the effects of the strong dollar, which reduces the value of goods sold overseas, he said.
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