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America Movil to buy back AT&T stake
2014-06-30 08:43:00| Telecompaper Headlines
(Telecompaper) America Movil said it has agreed to buy back AT&T's 8.27 percent stake in the company. Its shareholders Inmobiliaria Carso and Control Empresarial de Capitales will buy the shares from AT&T International for USD 5.57 billion. AT&T said it expects to realise a profit of 8-10 cents a share from the sale, depending on the final tax on the sale. AT&T said earlier it would exit the investment in order to secure regulatory approval for its proposed takeover of DirecTV. Americal Movil competes against DirecTV in several markets in Latin America. AT&T has partnered with AMX for over 20 years.
AT&T sells America Movil stake for $5.57bn
2014-06-30 02:00:00| Total Telecom industry news
U.S. telco offloads whole stake in Mexican firm in a bid to smooth way for DirecTV takeover; America Movil says Telekom Austria share offer now mandatory.
Tencent buys 19.9% stake in 58.com for USD 736 mln
2014-06-29 17:25:00| Telecompaper Headlines
(Telecompaper) Chinese internet and mobile services firm Tencent has agreed to invest USD 736 million in exchange for approximately 19.9 percent equity interest in Chinese online marketplace 58.com. Tencent has agreed to purchase 36,805,000 Class A and B ordinary shares at a purchase price of USD 20 per ordinary share, corresponding to USD 40 per American Depositary Share, each representing two ordinary shares. In addition, 58.com will use part of the proceeds from this transaction to repurchase 27,603,750 ordinary shares from existing pre-IPO shareholders. Tencent and 58.com have agreed to use each other as the preferred partner in local services. Tencent and 58.com plan to jointly build out online-to-offline (O2O) services leveraging the combined features of their respective platforms.
Relational Investors Boost Stake In Manitowoc Company, Inc. (MTW); Push For Food Division Spin Off
2014-06-28 17:02:31| Industrial Machines - Topix.net
Ralph V. Whitworth , who runs Relational Investors , is bullish on Manitowoc Company, Inc. and has nearly doubled his fund's position in the company.
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Slim's real estate arm to buy AT&T's America Movil stake
2014-06-28 01:21:32| Telecom - Topix.net
Carlos Slim's real estate firm, Inmobiliaria Carso, will buy AT&T Inc's equity stake in America Movil, tightening the Mexican tycoon's control of his flagship telecommunications firm, according to a filing with Mexico's stock exchange on Friday.
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