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Tag: bln
Global digital music sales top USD 1 bln for first time
2014-03-18 15:09:00| Telecompaper Headlines
(Telecompaper) Global revenues from streaming and subscription music services increased 51.3 percent in 2013 to break the USD 1 billion level for the first time, according to data from the International Federation of the Phonographic Industry (IFPI). Overall global music sales fell by 3.9 percent to USD 15 billion in 2013. Global revenues from subscription and advertising-supported streams now account for 27 percent of digital revenues, up from 14 percent in 2011. More than 28 million people worldwide now pay for a music subscription, up from 20 million in 2012 and 8 million in 2010. Digital downloads remain a key revenue stream, accounting for 67 percent of digital revenues. Revenues from downloads globally fell by 2.1 percent in value, with this fall offset by increases in streaming and subscription revenue.
Vodafone to acquire Ono for EUR 7.2 bln
2014-03-17 08:36:00| Telecompaper Headlines
(Telecompaper) Vodafone has agreed to acquire Ono for a total consideration equivalent to EUR 7.2 billion (GBP 6 billion) on a debt and cash free basis. Via the acquisition of Ono, Vodafone seeks to accelerate its unified communications strategy in Spain, providing a significant time-to-market advantage and network reach that is complementary to Vodafone Spain's ongoing FTTH build programme.
Tags: eur
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Vodafone agrees deal to buy Ono for over EUR 7 bln - report
2014-03-14 09:36:00| Telecompaper Headlines
(Telecompaper) The shareholders of Spanish cable operator Ono have approved plans for an initial public offering as some Spanish press sources, including business daily Expansion and online newspaper El Confidencial, report that Vodafone has had a bid of around EUR 7.2 billion accepted by the Spanish company. The increased offer, which includes Ono's net debt of around EUR 3.3 billion, is Vodafone's third bid for the operator, which continued working on alternative plans for a flotation after rebuffing previous offers of EUR 6 billion and EUR 6.5 billion. The new bid is around 10 times Ono's EBITDA for 2012 of EUR 752 million and is said to have convinced Ono's key shareholders including Providence Equity Partners, Thomas H. Lee Partners, CCMP Capital Advisors LLC and Quadrangle Capital Partners, which hold about 54.4 percent of the operator. Neither party has made any official announcements regarding the takeover which, according to Expansion, could be finalised by 17 March after the full equity value of the deal, as well as compensation for antitrust issues and the cost of upgrading customers or networks, are agreed upon.
MTN Group FY revenue up 12% to ZAR 136.5 bln on weak rand
2014-03-05 09:50:00| Telecompaper Headlines
(Telecompaper) MTN Group posted a 12 percent increase in its revenue for 2013 to ZAR 136 billion compared with 2012, boosted by a weakening of the rand against a number of currencies. For the year as a whole, the rand declined by 18.3 percent on average against the US dollar. On a constant currency basis, revenue increased by 3.1 percent. This was largely the result of a 6.1 percent decline in revenue at MTN South Africa and 5.7 percent growth in MTN Nigeria.
Telefonica simplifies structure, plans EUR 1.5 bln savings
2014-02-26 17:03:00| Telecompaper Headlines
(Telecompaper) Telefonica has announced a major structural reorganization that will see the integration of its Europe, Latin America and digital divisions into a new Global Corporate Centre, with greater visibility handed to local operations with a view to bringing them closer to the group's decision-making centre. The company will also create the new position of chief commercial digital officer, who along with the chief global resources officer will report to COO Jose Maria Alvarez-Pallete. In a statement Telefonica confirmed that Pallete will oversee operations across Europe and Latin America and Santiago Fernandez Valbuena, former head of Latin America, will become strategy chief and remain a board member. The company's CEOs in Spain (Luis Miguel Gilperez), Brazil (Antonio Carlos Valente), the UK (Ronan Dunne) and the yet to be appointed successor to Rene Schuster in Germany will become part of the company's executive committee. Telefonica also announced a EUR 1.5 billion cost-savings programme for the coming years, which doesn't include synergies from its proposed acquisition of German operator E-Plus. The company has sold assets in Ireland, the Czech Republic and China in the past couple of years in an effort to cut debt and improve its financial position and credit ratings.
Tags: eur
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