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Liberty Media buys 27.3% in Charter for USD 2.62 bln
2013-03-20 09:01:00| Telecompaper Headlines
(Telecompaper) Liberty Media has agreed to buy a 27.3 percent stake in cable company Charter Communications for USD 2.617 billion. The company controlled by John Malone will pay USD 95.50 per share to acquire 26.9 million shares and 1.1 million warrants from Charter's shareholders Apollo Management, Oaktree Capital Management and Crestview Partners. Liberty expects to fund the purchase with a combination of cash on hand and new loan arrangements. The deal should close early in Q2. Liberty Media will have the right to four seats on the Charter board after the acquisition. Chairman Malone, Liberty Media CEO Gregory Maffei, Liberty Global CTO Nair Balan, and Michael Huseby, CFO of Barnes & Noble, are expected to take up the seats, replacing Stan Parker, Darren Glatt, Bruce Karsh and Edgar Lee. Liberty Media also agreed to not increase its stake in Charter above 35 percent until January 2016 and 39.99 percent thereafter.
Tags: media
usd
charter
liberty
Gemalto increases revenues 13% to EUR 2.24 bln in 2012
2013-03-14 08:58:00| Telecompaper Headlines
(Telecompaper) Smartcard group Gemalto reported revenues up 13 percent to EUR 2.24 billion in 2012, with the largest growth coming from the mobile communications and security segments. Gross profit rose by 15 percent to EUR 864 million, for a 38.5 percent margin, up 1.2 percentage points on 2011. Profit increased by 20 percent to EUR 306 million, after adjusting the value of Gemalto's investment in a Chinese joint venture. Adjusted net profit increased grew by 15 percent to EUR 262 million. Gemalto will propose a EUR 0.34 per share dividend for 2012, 10 percent more than in 2011. For 2013, Gemalto expects double-digit growth in revenue at constant exchange rates. The group will announce its next long-term development plan and targets in the second half.
Tags: eur
increases
revenues
bln
Telecom Italia FY net loss hits EUR 1.6 bln on writedowns
2013-03-08 11:45:00| Telecompaper Headlines
(Telecompaper) Telecom Italia has published its final results for 2012, showing a net loss of EUR 1.6 billion due to goodwill writedowns. The loss included over EUR 4 billion in impairment charges on Olivetti and the buy-out of minority shareholders in TIM, which the operator said were due to the poor market outlook and weak economic climate. In 2011, the operator reported a net loss of EUR 4.8 billion, also impacted by asset writedowns. Excluding the one-time items, net profit fell to EUR 2.4 billion from EUR 2.5 billion in 2011. Telecom Italia emphasized the charges are non-cash, and do not affect its debt reduction targets or medium-term guidance issued with preliminary annual results. It proposed a dividend of EUR 0.02 per ordinary share and EUR 0.031 per savings share, for a total distribution of EUR 454.4 million. Operating free cash flow amounted to EUR 6.47 billion in 2012, a EUR 703 million increase on 2011.
Samsung pays JPY 10.38 bln for 3.04% of Sharp
2013-03-06 10:11:00| Telecompaper Headlines
(Telecompaper) Sharp announced that it will issue 35.8 million shares to Samsung at an issue price of JPY 290 per share. The transaction raises JPY 10.38 billion for Sharp and gives Samsung 3.08 percent of Sharp voting shares and 3.04 percent of total issued shares. Sharp said it would use the proceeds further strengthen its relationship with Samsung by ensuring a long-term, stable and timely supply of LCDs for large TVs and small and medium LCD panels for tablets and notebook computers. Specifically, Sharp expects to spend JPY 6.9 billion to introduce new technology for HD LCDs and JPY 3.23 billion to investments including rationalising plans making LCDs with HD features for mobile devices. The transaction is due to close on 28 March.
MTN grows FY revenue 10.9% to ZAR 135 bln
2013-03-06 08:57:00| Telecompaper Headlines
(Telecompaper) MTN Group reported revenue for 2012 up 10.9 percent to ZAR 135.1 billion, buoyed by solid organic growth in its home market South Africa (+7.1%). Although its largest market Nigeria had a difficult year (-0.8%), a number of operations continued to outperform, with strong organic revenue growth in Iran (+26.1%), Ghana (+21.3%), Uganda (+16.2%), Sudan (+28.3%) and Ivory Coast (+17.0%). Group subscribers increased 15.1 percent to 189.3 million at year-end. MTN's EBITDA rose 7.0 percent to ZAR 58.6 billion, helped by one-time profits on tower sales. Group depreciation increased by 11.8 percent and amortisation rose 10.3 percent after increased investment, limiting the rise in EPS to 0.6 percent at ZAR 11.26. HEPS rose 1.9 percent to ZAR 10.89, with growth held back by negative forex effects. MTN increased capex by 69.9 percent last year to ZAR 30.10 billion, which includes some equipment pre-ordered for roll-out this year. The company increased its annual dividend 10 percent to ZAR 5.03 per share and said it aims for a 5-15 percent increase in annual dividends in the coming three-year period. MTN said it expects continued organic growth in both revenue and EBITDA in 2013 and anticipates reaching 200 million subscribers by mid-year. Net subscriber additions for the full year are estimated at 21.0 million. The Nigerian operations are expected to recover in the course of this year, and this together with a lower tax rate and the benefits of network investment in 2012 should support growth in reported earnings.
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