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Bharti Airtel to acquire Loop Mobile for INR 7 bln
2014-06-24 08:18:00| Telecompaper Headlines
(Telecompaper) Bharti Airtel has signed a definitive agreement to acquire its smaller rival Loop Mobile's subscribers, as well as some of its assets, for about INR 7 billion. The deal is subject to regulatory approvals and was first announced in February. Loop Mobile operates only in the Mumbai circle. As part of the deal, Bharti Airtel will take over around 3.2 million subscribers of Loop Mobile, its retail outlets and 400-500 of its cellular towers. The addition of Loop customers is expected to increase Bharti's user base in Mumbai to over 7.3 million, the highest in the circle.
Com Hem sets IPO price at SEK 58/share, raises SEK 5.67 bln
2014-06-17 11:51:00| Telecompaper Headlines
(Telecompaper) Swedish cable operator Com Hem said it set a final price of SEK 58 per share in its IPO, with trading starting on the Nasdaq OMX Stockholm exchange on 17 June. This compares with a price range of SEK 44-62. The price values Com Hem at SEK 11.470 billion, assuming the overallotment option is not taken up. Com Hem offered 97,754,179 new shares, providing the company with SEK 5.670 billion in gross liquidity without the overallotment option, which is up to 9,775,418, valid for 30 days. Using this option in full would provide Com Hem with another SEK 567 million in gross liqiudity.
Nikon sets aside 200 bln yen for M&A in medical, other growth areas
2014-06-17 10:16:57| Semiconductors - Topix.net
Nikon Corp said it has set aside 200 billion yen for mergers and acquisitions in medical and other growth fields, as part of its midterm strategy plan announced on Tuesday.
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medical
growth
Level 3 to buy tw telecom for USD 7.3 bln
2014-06-16 15:17:00| Telecompaper Headlines
(Telecompaper) Level 3 Communications has agreed to buy tw telecom for a combination of cash and shares, valuing the operator at USD 7.3 billion including debt. Tw shareholders will receive USD 10 cash and 0.7 shares of Level 3 common stock for each share of tw telecom they own. This values tw telecom at USD 40.86 per share, versus USD 36.34 at closing the day before the deal was announced. The takeover substantially strengthens Level 3's North American network, providing key network assets and building connections. The company expects USD 200 million in annual adjusted EBITDA savings and USD 40 million in capex savings from the takeover. In total, the net synergies are estimated at USD 2 billion, and around 70 percent of the EBITDA savings should be realised within 18 months of closing the takeover. Level 3 estimates the one-time integration costs at USD 170 million. It expects the transaction to add to free cash flow per share a year after the deal closes. Despite taking on USD 1.6 billion in debt from tw, Level 3 said the enlarged group will have lower leverage. The company has secured USD 3 billion in financing for the takeover and the support of its largest shareholder, ST Telemedia with a 23 percent stake. Pending regulatory and shareholder approval, the acquisition is expected to close in Q4.
ATC acquires BR Towers for BRL 2.18 bln
2014-06-16 09:12:00| Telecompaper Headlines
(Telecompaper) American Tower Corporation (ATC) said it has agreed to fully acquire Brazil's BR Towers for BRL 2.18 billion from private equity investors GP Investments, Bradesco BBI, and other shareholders. BR Towers is expected to own around 2,530 towers and the exclusive use rights for about 2,110 more in Brazil at closing. The purchase price is subject to customary adjustments, and will be given in a combination of cash and the assumption of certain existing debt. ATC expects the towers to generate BRL 292 million in annual run rate revenues and BRL 181 million in annual gross margin. The deal is believed to be immediately accretive to adjusted funds from operations upon closing. The transaction is subject to regulatory approvals and other customary closing conditions, and is expected to close in the fourth quarter.
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