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Telecom Italia mulls Oi merger, sells Brazil towers

2014-11-24 01:00:00| Total Telecom industry news

Italian incumbent clarifies position in Brazil, confirms interest in acquiring Milan's Metroweb.

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Telecom Italia sells 17% of Argentina stake

2014-10-27 08:54:00| Telecompaper Headlines

(Telecompaper) Telecom Italia has agreed to sell only a part of its stake in Telecom Argentina to US-backed investment fund Fintech, with the rest to follow once the deal secures regulatory approval from Argentine authorities. The Italian operator first announced an agreement to sell its controlling stake in Telecom Argentina's holding company Sofora Telecomunicaciones to Fintech for USD 960 million back in November 2013. However, Fintech's 40 percent stake in Argentine cable TV company Cablevision has proved a stumbling block due to local regulations limiting telecoms and media cross holdings. As a result, Telecom Italia has now announced an amended agreement to sell a 17 percent minority interest in Sofora to Fintech by end-October for USD 215.7 million. The sale of the remaining 51 percent controlling stake in Sofora will go through once the Argentine telecoms regulator SeCom gives the green light, which "is expected to occur within the next two and one-half years", according to Telecom Italia. In a statement, Telecom Italia confirmed that if the sale of its 51 percent of Sofora to Fintech is not completed within two and a half years, it could elect to terminate the deal or seek a third party buyer under a guarantee scheme with Fintech that ensures it will receive at least the same amount (USD 630.6 million).

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Vimpelcom sells telecom units in Burundi, Central African Republic

2014-10-20 16:42:09| Telecom - Topix.net

International telecoms firm Vimpelcom has sold two African businesses, in Central African Republic and Burundi, for $65 million to Econet Wireless Global, it said on Monday, part of a strategic review of its assets worldwide. Last year Vimpelcom agreed to sell the two businesses to another company - Neil Telecom, an emerging market-focused telecoms venture run by African investor Laurent Fouchers, banking sources had previously said.

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C&W sells Monaco Telecom for EUR 322 million

2014-04-25 11:56:00| Telecompaper Headlines

(Telecompaper) Cable & Wireless Communications has agreed the sale of Compagnie Monégasque de Communication, the holding company for its 55 percent stake in Monaco Telecom, to a private investment vehicle controlled by Xavier Niel, the French entrepreneur controlling Iliad, for EUR 321.79 million. Monaco Telecom is the incumbent operator in Monaco where it is the market leader and only full service telecommunications provider. It also owns 36.75 percent of Afghan mobile operator Roshan, supplies international carrier and country code services to Kosovo, and works with OnAir for onboard telephony. CMC had USD 74 million of EBITDA on a USD 218 million revenue in the year to March 2013, when it had USD 537 million of gross assets and some 35,000 mobile customers, 34,000 fixed line and 17,000 broadband users. The parties have regulatory approval and only await a C&W shareholder vote to complete the deal. The disposal puts C&W in a strong position to pursue growth opportunities, both organic and inorganic, in the targeted Caribbean and Latin America region, the operator said.

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Telecom sells Cooks telco stake

2014-04-02 02:05:09| Telecom - Topix.net

Telecom New Zealand has agreed to sell its interest in the Cook Islands' biggest phone and internet phone provider to global communications company Digicel for about $23 million.

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