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Nokia agrees EUR 15.6 bln bid for Alcatel-Lucent
2015-04-15 08:23:00| Telecompaper Headlines
(Telecompaper) Nokia and Alcatel-Lucent reached an agreement on the terms of their proposed merger. Nokia will offer 0.55 of its shares for each Alcatel-Lucent share, valuing the company at EUR 15.6 billion or EUR 4.27 per share. This is a premium of 28 percent to the average share price over the three months before the merger talks were announced. Alcatel-Lucent shareholders would own 33.5 percent of the new company, which will continue under the name Nokia. Nokia's current chairman and CEO, Risto Siilasmaa and Rajeev Suri, will continue to lead the company, and the new Nokia will remain headquartered in Finland with a "strong presence" in France. Alcatel-Lucent will have three members on the board of 9-10 members, including the role of vice chairman. Pending approval by Nokia's shareholders and regulators, the takeover is expected to close in the first half of 2016. By 2019, the companies expect to achieve EUR 900 million in operating cost savings from the merger. They also forecast EUR 200 million in savings in interest costs by 2017.
IBM to put USD 3 bln into connecting enterprises to IoT
2015-03-31 09:22:00| Telecompaper Headlines
(Telecompaper) IBM wants to connect the Internet of Things (IoT) to the enterprise, and will invest USD 3 billion over the next four years to reach its goal. The company will establish a new IoT unit to drive insights into business operations, and build a cloud-based open platform designed to help clients and ecosystem partners build IoT systems. The new unit will be led by Pat Toole as GM. The company also announced a strategic data alliance with The Weather Channel. IBM's IoT Cloud Open Platform for Industries will provide new analytics services for IBM, clients and partners and will be used to design and deliver vertical industry IoT systems. For example, IBM will introduce a cloud-based service that will help insurance companies extract insight from connected vehicles. This will enable new, more dynamic pricing models and the delivery of services that can be highly customised to individual drivers. IBM wants customers and partners to integrate data from more IoT and traditional sources. The resources will be made available on an open platform to provide manufacturers with the ability to design and produce a new generation of connected devices and systems that are better optimised for the IoT. IBM´s IoT Ecosystem will expand, with partners ranging from silicon and device manufacturers to industry-oriented system providers such as AT&T, ARM, Semtech and The Weather Company.
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Vodafone spends GBP 2.78 bln on Indian spectrum licences
2015-03-26 18:54:00| Telecompaper Headlines
(Telecompaper) Vodafone India has acquired spectrum in 12 telecom circles for a total cost of INR 258.1 billion (GBP 2.78 billion). The mobile operator managed to acquire 900 MHz spectrum in all six of its circles where its licences are set to expire at the end of this year. It also added 5 MHz in the 900 MHz band in Orissa and a further 30 MHz in the 2,100 MHz band in six new circles. In addition the company bought 5.6 MHz of 1,800 MHz spectrum in three circles to complement the 49 MHz of 1,800 MHz spectrum acquired in the February 2014 auction. Vodafone said the new licences will allow it to expand 3G services over its own network from nine to 16 circles. Previously it had relied on roaming agreements in order to offer 3G in many markets. With the new rights, it has spectrum in circles representing 88 percent of its service revenues.
Tags: indian
spectrum
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Telefonica announces EUR 3 bln share issue for GVT purchase
2015-03-26 08:53:00| Telecompaper Headlines
(Telecompaper) Telefonica has announced a capital hike of around EUR 3.05 billion to part fund its EUR 7.2 billion purchase of Brazilian broadband operator GVT. In a statement to Spain's market regulator CNMV, the Spanish operator confirmed it will sell some 281 million shares for EUR 10.84 each, with Telefonica shareholders given preferential rights to subscribe to the new shares. The company earlier confirmed it had finally received the approval of Brazil's antitrust authority, Cade, to acquire GVT from French media group Vivendi. Telefonica last week agreed to waive its voting rights in Telecom Italia in an unrestricted manner to comply with the regulator's demands. Cade also approved the break up of the Telefonica-dominated Telco SpA investor group that has controlled Telecom Italia for years. The demerger of the Telco pact was confirmed in a Telco board meeting held in June last year and the following month Telefonica sold bonds exchangeable into stocks to cut its stake by about a third. Subsequently, the Spanish company offered Vivendi a right to around 8 percent of Telecom Italia as part of its bid to buy GVT. As a result, Vivendi is expected to be confirmed as Telecom Italia's largest single shareholder at a 20 May meeting.
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Optimal Payments to buy Skrill for EUR 1.1 bln
2015-03-23 13:42:00| Telecompaper Headlines
(Telecompaper) UK-based online and mobile payment services provider Optimal Payments announced an agreement to acquire Skrill, a provider of prepaid services in Europe, for EUR 1.1 billion including debt. Skril's holding company Sentinel is owned by the private equity funds CVC, Investcorp and other shareholders. They will receive EUR 720 million cash and a 7.9 percent stake in the merged group. The deal values Skrill's equity at 9.4 times EBITDA for the year to September, including expected synergies from the merger of EUR 40 million per year. Skril provides a range of digital wallet services, including the paysafecard for online purchases, while Optimal Payments operates the online money transfer service Netelller. Optimal Payments has received backing from its shareholders to raise GBP 451 million in a rights issue. A new credit facillity of EUR 500 million will also support the acquisition plans. Subject to shareholder approval and the rights issue, the acquisition is expected to close in Q3.
Tags: buy
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