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Softbank invests JPY 1.26 bln in Brightstar
2013-10-18 20:27:00| Telecompaper Headlines
(Telecompaper) Brightstar has announced a definitive agreement for Softbank to invest JPY 1.26 billion in BrightStar. As part of the transaction, the Buying & Innovation Group, "BIG," a joint venture created to provide savings and efficiencies for Softbank, Sprint and Brightstar, will become a division of Brightstar. Softbank's investment, which values Brightstar at JPY 2.2 billion, including its existing outstanding debt, is the next step in Brightstar's evolution. As a result of the transaction, Brightstar will become the exclusive provider of handsets, accessories and services to certain Softbank telecommunications affiliates. In addition, Brightstar, leveraging certain assets of Softbank telecommunications affiliates, will buy more than JPY 20 billion in handsets, accessories and services. Both companies will leverage Brightstar's local presence in more than 50 countries to commercialise products and services offered by Softbank, its affiliates and its investment companies.
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Advance Auto Parts to buy General Parts for just over $2 bln - WSJ
2013-10-16 08:22:32| Auto Parts - Topix.net
Advance Auto Parts Inc plans to buy closely held General Parts International Inc for just over $2 billion, the Wall Street Journal reported, citing people familiar with the matter.
Cooper Tire Moves Court to Push Apollo on $2.5 bln Deal
2013-10-06 07:50:15| Industrial Machines - Topix.net
A cyclist rides past an Apollo tyre kept on display at a multi-brand tyre showroom in New Delhi June 13, 2013.
Twitter files to raise USD 1 bln in IPO
2013-10-04 09:32:00| Telecompaper Headlines
(Telecompaper) Twitter as filed its general prospectus for an initial public offering of shares in the US. While the company has yet to fix how many shares it will sell or a price for the new stock, the document provides details on the messaging company's financial results for the first time. Twitter recorded revenue of USD 254 million in the first six months of this year, up from USD 122.4 million a year earlier, while its net loss swelled to USD 69 million from USD 49 million. Twitter reported an average 218.3 million monthly users in the second quarter, up 44 percent from a year earlier. Almost a quarter (49.2 million) were in the US, up 35 percent year-on-year, while users in the rest of the world were growing faster, up 47 percent to 169.1 million. The company said a good measure of its ability to monetise the service in the amount of revenue generated from each user viewing a timeline on the site or apps. This rose to USD 0.80 in ad revenue per 1,000 views in the second quarter, an annual increase of 26 percent. For the purposes of fixing a fee for the IPO filing, Twitter estimated it will raise USD 1 billion in the offering. It said it will use the proceeds to help fund general operating costs and an estimated USD 225-275 million in capital expenditure this year.
KPN to book EUR 3.7 bln loss on E-Plus sale
2013-09-16 08:57:00| Telecompaper Headlines
(Telecompaper) KPN plans to take a book loss of EUR 3.7 billion on the sale of its German subsidiary E-Plus. The company said it reached agreement with the Dutch tax authorities on the amount of the loss. It will be able to offset the loss against future taxable profits, starting in 2014. KPN has agreed to sell E-Plus to Telefonica for EUR 5 billion plus a 17.6 percent stake in Telefonica Germany. The sale still requires shareholder approval.
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