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Singtel to sell stake in Warid Telecom
2013-01-29 14:27:00| Telecompaper Headlines
(Telecompaper) Singtel has agreed to sell its 30 percent stake in the Pakistani operator Warid Telecom to the Abu Dhabi Group. This gives the latter 100 percent of Warid's shares. Singtel will receive USD 150 million plus a 7.5 percent share of the net proceeds from any future sale, public offering or merger of Warid. The cash consideration is payable in several tranches up to the third anniversary after completion of the deal. Closing is dependent on a number of conditions still, including approval from Warid's lenders. Singtel previously provided a guarantee of USD 90 million and equity undertaking of USD 51 million for a credit facility provided to Warid. After selling its stake in Warid, it will no longer be subject to these obligations. Singtel expects to book a loss of SGD 230 million on the sale.
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Diageo buys stake in South African sorghum brewery
2013-01-29 04:57:31| Beverages - Topix.net
The drinks giant will form a 50:50 joint venture with Indian businessman Vijay Mallya to run United National Breweries' traditional sorghum beer business in South Africa.
Tags: south
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south african
Deutsche Telekom reportedly eyeing Fon stake
2013-01-29 01:00:00| Total Telecom industry news
Source claims German incumbent has signed letter of intent with WiFi provider as it seeks to cope with surging mobile data traffic.
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Deutsche Telekom eyes stake in Fon - report
2013-01-28 11:03:00| Telecompaper Headlines
(Telecompaper) Deutsche Telekom is considering acquiring a stake in Wi-Fi operator Fon as it looks to cope with rising mobile data demand, reports the Wall Street Journal citing unnamed sources familiar with the talks. The sources said that Telekom and Fon have already signed a letter of intent, although the size of the stake and its value are not decided. An agreement with Fon would provide a major boost to Deutsche Telekom's strategy to grow revenues from mobile data services. In Germany, it offers access to over 11,000 hotspots, while through partner networks, customers can access over 50,000 hotspots worldwide. Fon already has agreements with a number of major operators in Europe, including in Belgium, France, the UK, Portugal and most recently the Netherlands, but has yet to partner with a German operator. Fon operates nearly 8 million hotspots worldwide, based on bandwidth sharing with fixed broadband modems sold by the company or its operator partners.
Tags: report
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BlackRock seeks $80M Twitter stake, at $9B valuation--reports
2013-01-26 03:51:58| CNET News.com
Global investment manager has offered to buy stock from early Twitter employees, in a deal with a valuation that's a jump of more than 10 percent from the social network's most recent fund-raising, in 2011. [Read more]
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