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UPDATE 2-Oracle loses bid to restore $1.3 bln SAP verdict, could get new trial
2014-08-29 23:13:47| IT Services - Topix.net
Oracle Corp failed to revive a $1.3 billion jury verdict in its long-running copyright dispute with German software company SAP SE as a U.S. appeals court said Oracle must choose to accept a lower amount or face a new trial.
Telecom Italia offers EUR 7 bln for GVT, Telefonica ups bid
2014-08-28 08:38:00| Telecompaper Headlines
(Telecompaper) Telecom Italia has made a EUR 7 billion cash-and-share offer for Vivendi's fast-growing Brazilian broadband unit GVT, prompting a bidding war with Telefonica, which almost immediately responded with a EUR 7.45 billion offer. Telecom Italia's proposal envisages a merger between GVT and the Italian operator's Brazilian unit Tim Brasil, with Vivendi taking a stake of around 15 percent in the combined company and 20 percent in Telecom Italia itself. The cash payment, meanwhile, will come from a capital increase by Tim Brasil. Overall, Telecom Italia confirmed that the bid was made up of 24 percent in cash and around 76 percent in shares and will be valid until 20 September. Shortly after Telecom Italia released the details of its bid, Telefonica made a new offer for GVT worth EUR 7.45 billion, up from its 05 August proposal of EUR 6.7 billion. Telefonica said it would pay EUR 4.66 billion in cash and offer Vivendi a 12 percent stake in the new combined group to be created from the merger of GVT and Telefonica Brasil. Telefonica, whose offer expires on 29 August unless the two parties agree to an extension, also offered Vivendi an option to buy an 8.3 percent stake in Telecom Italia.
Telecom Italia to offer up to EUR 7 bln for GVT - report
2014-08-18 08:53:00| Telecompaper Headlines
(Telecompaper) Telecom Italia is preparing an offer of as much as EUR 7 billion to outbid Telefonica for Vivendi's Brazilian broadband unit GVT, people with knowledge of the plan told Bloomberg. Vivendi would get a 20 percent stake in Telecom Italia and a stake in the entity that combines the two companies' Brazilian units. Telefonica offered EUR 6.7 billion for GVT earlier this month. The Brazilian newspaper Folha de Sao Paulo reported separately that Telecom Italia was set to make an all-stock bid for GVT valued at as much as EUR 7 billion.
UPDATE 1-Brightoil seeks major China acquisition after $1 bln Anadarko deal
2014-08-15 13:23:18| Oil & Gas - Topix.net
Brightoil Petroleum Holdings Ltd, which just completed a $1.05 billion purchase of Anadarko Petroleum Corp's oilfield stakes in China, said it was seeking to make another major upstream acquisition over the next 12 months.
MTN Group H1 revenue up 11% to ZAR 73 bln
2014-08-07 09:36:00| Telecompaper Headlines
(Telecompaper) MTN Group posted a 10.7 percent increase in revenue for the first half to ZAR 72.76 billion, as growth in smaller countries helped offset a cut to interconnection rates in its home market South Africa and a temporary sales ban in Nigeria. Good growth was experienced in data and MTN Mobile Money usage, but voice revenue continued to be impacted by aggressive competition, regulatory pressures and a weakening economic environment in key markets, the mobile operator said. Subscribers rose 3.5 percent from a year earlier to 215 million at the end of June. EBITDA increased by 19.6 percent to ZAR 33.66 billion, excluding the profit on tower sales, and the EBITDA margin expanded by 3.5 percentage points to 46.3 percent, driven by cost-containment initiatives. Distribution costs, inclusive of commissions, service provider discounts and marketing costs were significantly reduced, MTN said, while staff costs were lat year-on-year. Depreciation increased by 20.7 percent as a result of the accelerated capex roll-out in the second half of 2013, particularly in Nigeria and South Africa. Amortisation costs increased by 22.1 percent, driven by increased spending on software in Nigeria, Ghana and Uganda. Basic headline earnings per share still increased by 9.0 percent to ZAR 7.29.
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