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Best Buy posts USD 8.82 billion Q3 revenue
2015-11-22 12:00:00| Telecompaper Headlines
(Telecompaper) US consumer electronics retailer Best Buy posted USD 8.82 billion of revenue in its third quarter to 31 October, compared to USD 9.03 billion a year earlier. US sales improved by 1.2 percent to USD 8.09 billion from USD 7.99 billion and international segment revenue declined to USD 729 million from USD 1.04 billion. From a merchandising perspective, comparable sales growth in computing, major appliances, health and wearables, and large-screen televisions was partially offset by declines in tablets, mobile phones and digital imaging. Domestic online revenue of USD 709 million increased 18.3 percent on a comparable basis, primarily due to higher conversion rates and increased traffic. As a percentage of total domestic revenue, online revenue increased 130 basis points in a year to 8.8 percent. Best Buy recorded a 2.6 percent operating income margin in its latest quarter, versus 2.3 percent in the year-earlier period. Diluted EPS from continuing operations came to USD 0.37, compared to USD 0.33 a year ago.
Medialaan to buy Mobile Vikings
2015-11-20 09:12:00| Telecompaper Headlines
(Telecompaper) The broadcaster Medialaan has agreed to buy Belgian MVNO Mobile Vikings. The sale is part of cable operator Telenet's concessions to the European Commission aimed at securing approval for its takeover of mobile operator Base from KPN. In addition to buying Base's 50 percent stake in Vikings, it will take over the customers of JIM Mobile, a MVNO tied to Medialaan's channel JIM. JIM Mobile was set up in 2010 under a branded partnership with Base. Following Telenet's acquisition of Base, the 'branded partner' agreement would still continue, but Base would transfer, within a period of maximum two years, the JIM Mobile customers to Medialaan, who would then become a full MVNO on the Base network. Mobile Vikings also confirmed plans to become a full MVNO after the takeover by Medialaan. In addition to Base's stake, Medialaan will also buy out the founders of Mobile Vikings to hold 100 percent of VikingCo. The takeovers depend on the European Commission's approval of the Base takeover and approval by the Belgian Competition Authority of Medialaan's acquisition of VikingCo and the JIM Mobile customer base.
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Foreign Investors View U.S. Industrial Portfolios as Solid Buy
2015-11-20 09:00:00| National Real Estate Investor
Industrial properties, typically a sector ignored by foreign investors due to comparatively low lease rates and locations far away from urban centers, have now become a desired asset class for such buyers. read more
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industrial
foreign
Eir in talks to buy Setanta Sports - report
2015-11-20 08:50:00| Telecompaper Headlines
(Telecompaper) Irish incumbent Eir is in talks to acquire the pay-TV provider Setanta Sports, the Irish Times reported. The paper's sources said the talks are at an advanced stage, with a deal likely to be completed in 2016. Mickey O'Rourke, Setanta's majority shareholder and co-founder, would remain with the business for a period after the deal is completed. Setanta operates two sports channels in Ireland and has production facilities in Dublin. Its channels are also shown in the UK through BT. The takeover by Eir is expected to strengthen the operator's TV offer in the face of increased competition from Virgin Media, which recently bought the TV channel TV3. It could also help Eir's valuation if it tries a stock market listing again or a sale of the company. Industry sources said the company could be worth up to EUR 20 million.
Telkom ends talks to buy Cell C
2015-11-19 14:41:00| Telecompaper Headlines
(Telecompaper) South Africa operator Telkom and Oger Telecom have ended all discussions on the potential purchase of Cell C by Telkom. In a statement, Telkom said through its engagement with Oger Telecom, it became clear that there was a difference of opinion on the valuation of Cell C. As no agreement has been reached, Telkom and Oger Telecom agreed to end all discussions. Telkom confirmed just over a week ago it was in talks to buy the mobile operator. Earlier reports suggested that Oger had valued Cell C at as much as ZAR 22 billion and rejected a bid of ZAR 14 billion from Telkom for its 75 percent stake.
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