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Tag: telefonica
Telefonica announces EUR 3 bln share issue for GVT purchase
2015-03-26 08:53:00| Telecompaper Headlines
(Telecompaper) Telefonica has announced a capital hike of around EUR 3.05 billion to part fund its EUR 7.2 billion purchase of Brazilian broadband operator GVT. In a statement to Spain's market regulator CNMV, the Spanish operator confirmed it will sell some 281 million shares for EUR 10.84 each, with Telefonica shareholders given preferential rights to subscribe to the new shares. The company earlier confirmed it had finally received the approval of Brazil's antitrust authority, Cade, to acquire GVT from French media group Vivendi. Telefonica last week agreed to waive its voting rights in Telecom Italia in an unrestricted manner to comply with the regulator's demands. Cade also approved the break up of the Telefonica-dominated Telco SpA investor group that has controlled Telecom Italia for years. The demerger of the Telco pact was confirmed in a Telco board meeting held in June last year and the following month Telefonica sold bonds exchangeable into stocks to cut its stake by about a third. Subsequently, the Spanish company offered Vivendi a right to around 8 percent of Telecom Italia as part of its bid to buy GVT. As a result, Vivendi is expected to be confirmed as Telecom Italia's largest single shareholder at a 20 May meeting.
Tags: share
issue
eur
purchase
Telefonica agrees sale of O2 UK to 3 for GBP 10.25 billion
2015-03-25 08:45:00| Telecompaper Headlines
(Telecompaper) Hutchison Whampoa reached an agreement with Telefonica to buy O2 UK for GBP 10.25 billion. The price includes an initial payment of GBP 9.25 billion and an additional GBP 1 billion to be paid once the combined O2 and 3 UK reach a certain cash flow. Telefonica said it plans to use much of the proceeds to pay off its debt. It first announced talks on the sale of O2 in January. Pending approval by regulatory authorities, the companies aim to close the deal by mid-2016. The operators plan to seek competition clearance from the EU. The merger of O2 with Hutchison's 3 UK will create the UK's largest mobile operator, with almost 33 million customers.
Telefonica to sell UK phone operator O2 to Hutchison Whampoa
2015-03-24 20:23:10| Telecom - Topix.net
" European cell phone operator Telefonica SA said Tuesday it has reached an agreement to sell its British business, O2, to Hong Kong conglomerate Hutchison Whampoa Ltd. for 10.25 billion pounds . Spain-based Telefonica said the purchase price includes an initial amount of 9.3 billion pounds and another 1 billion pounds to be paid later.
Tags: phone
sell
operator
telefonica
Telefonica finalises 10bn sale of O2
2015-03-24 18:45:36| BBC News | Business | UK Edition
Telefonica finalises a deal to sell its O2 mobile phone network to Hutchison Whampoa for 10.25bn.
Tags: sale
telefonica
finalises
10bn
Qualcomm, Telefonica, Twitter invest in Cyanogen
2015-03-23 15:31:00| Telecompaper Headlines
(Telecompaper) Cyanogen, the maker of an alternative Android operating system, has raised USD 80 million in series C financing. The fresh cash will help the US-based company hire more staff and accelerate development of its mobile OS. The financing was led by Premji Invest and includes participation from new strategic investors Twitter Ventures, Qualcomm, Spanish operator Telefonica, Indonesia's Smartfren Telecom, Index Ventures, Access Industries, Rupert Murdoch, Vivi Nevo and several yet to be announced partners. Existing investors Benchmark, Andreessen Horowitz, Redpoint Ventures, and Tencent also participated. To date, Cyanogen has raised a total USD 110 million in funding. In addition to its commercial product Cyanogen OS, the company runs the open-source project CyanogenMod.
Tags: invest
telefonica
twitter
qualcomm
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