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Orange secures EC approval of EUR 3.4 bln Jazztel takeover

2015-05-19 14:34:00| Telecompaper Headlines

(Telecompaper) Orange has secured the European Commission's approval of its EUR 3.4 billion takeover of Spanish broadband operator Jazztel after agreeing to a series of concessions designed to address competition concerns by creating a fourth major player in Spain. Orange's commitments will "ensure that a new operator can enter the Spanish market and be able to compete effectively in markets involving fixed internet access services," said the EC in a statement. The EU's antitrust commissioner Margrethe Vestager added that the remedies would allow a new player to enter the market and compete as strongly as Orange and Jazztel so that "consumers in Spain would not suffer from higher prices for fixed internet access services." Orange won the EC's approval by agreeing to divest an independent FTTH network covering 700,000-800,000 households in Madrid, Barcelona, Valencia, Seville and Malaga, five of the largest Spanish cities. In addition, Orange committed to grant the purchaser of the FTTH network wholesale access to Jazztel's national ADSL network for up to eight years, a commitment that would allow the purchaser to compete immediately on 78 percent of Spanish territory, said the EC. Finally, the buyer would also be given wholesale access to Orange's mobile network including 4G services, if it does not already have access to a mobile network.

Tags: eur orange approval takeover

 

Vodacom Group FY revenue rises 2.1% to ZAR 77.3 bln

2015-05-18 10:47:00| Telecompaper Headlines

(Telecompaper) Vodacom Group reported a 2.1 percent increase in full-year revenue to ZAR 77.3 billion from ZAR 75.7 billion in 2014. Excluding the impact of a 50 percent cut in MTRs in South Africa, group revenue in the year to March increased by 4.8 percent. EBITDA declined by 1.5 percent to ZAR 26.9 billion, hurt by negative forex effects and a one-time charge of ZAR 405 million to write down operations in the Democratic Republic of Congo. Headline earnings per share decreased by 4.0 percent to ZAR 8.60 from ZAR 8.96 in 2014, and net profit fell 8.5 percent to ZAR 12.5 billion.

Tags: group revenue rises zar

 
 

UPDATE 1-Crown Castle to sell Australian unit for A$2 bln

2015-05-15 06:21:28| Telecom - Topix.net

Telecommunications tower operator Crown Castle International Corp said it would sell its Australian unit for about A$2 billion in cash to a group of investors led by Macquarie Infrastructure and Real Assets. Crown Castle owns a 77.6 percent stake in the unit - Crown Castle Australia - which claims to be the largest independent tower operator in Australia with a portfolio of about 1,800 sites.

Tags: sell update unit australian

 

UPDATE 1-Crown Castle to sell Australian unit for A$2 bln

2015-05-15 01:41:48| IT Services - Topix.net

Telecommunications tower operator Crown Castle International Corp said it would sell its Australian unit for about A$2 billion in cash to a group of investors led by Macquarie Infrastructure and Real Assets. Crown Castle owns a 77.6 percent stake in the unit - Crown Castle Australia - which claims to be the largest independent tower operator in Australia with a portfolio of about 1,800 sites.

Tags: sell update unit australian

 

Macquarie to buy Crown Castle Australia for AUD 2 bln

2015-05-14 14:25:00| Telecompaper Headlines

(Telecompaper) Mobile towers operator Crown Castle announced an agreement to sell its Australian subsidiary to a consortium of investors led by Macquarie Infrastructure and Real Assets for AUD 2.0 billion in cash (USD 1.6 billion). Crown Castle will use the estimated net proceeds of USD 1.3 billion to finance its previously announced acquisition of Sunesys and paying down debt. US-based Crown Castle announced in February it was considering the sale of the Australian subsidiary CCAL, in which it owns 77.6 percent. CCAL is the largest independent tower operator in Australia with around 1,800 sites under management. It entered the Australian market in 2000, acquiring towers first from Optus and later from Vodafone and Hutchison, and also serves the NBN Co and emergency networks. The Australian company contributes around 4-5 percent of Crown Castle's estimated annual EBITDA. Macquarie is an Australia-based financial services company with investments in infrastructure throughout the world. 

Tags: buy australia crown castle

 

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