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UPDATE 1-CN Rail plans C$1.9 bln in capital spending
2013-02-06 10:20:48| Railroads - Topix.net
Canadian National Railway Co , the country's largest rail operator, said on Tuesday it would invest C$1.9 billion in 2013, or slightly more than last year, to upgrade its rail system, improve service and expand business.
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Liberty Global to buy Virgin Media for USD 23 bln
2013-02-06 08:51:00| Telecompaper Headlines
(Telecompaper) Liberty Global has agreed to acquire UK cable operator Virgin Media for USD 23.3 billion. Virgin Media shareholders will receive USD 17.50 in cash, 0.2582 Liberty Global Series A shares and 0.1928 Liberty Global Series C shares for each Virgin Media share they hold. This implies a price of USD 47.87 per Virgin Media share, a 24 percent premium on the closing price the day before merger talks were first announced. Liberty Global said it expects the takeover to result in operating and capex synergies of around USD 180 million in the first full year of integration. Virgin Media is also expected to help the company's strategy in mobile and business services, where it has been looking to grow. Liberty plans to finance the cash portion of the takeover, worth about USD 5.9 billion, with its own cash and that of Virgin Media, as well as an increase in Virgin's debt by around USD 3.0 billion. The shares component will give Virgin shareholders 36 percent of Liberty Global's capital and 26 percent of the voting rights. Liberty Global also plans to move its holding company from the US to the UK after the takeover, and said it could later pursue a stock listing in Europe. The deal still requires shareholder approval, planned for the second quarter, and Liberty's largest shareholder, John Malone with 35 percent, has pledged to support the deal.
Oracle to buy Acme Packet for USD 1.7 bln
2013-02-04 15:37:00| Telecompaper Headlines
(Telecompaper) Oracle has agreed to buy SBC specialist Acme Packet for USD 1.7 billion. The company will pay USD 29.25 per share for Acme Packet, representing a fully diluted equity value of USD 2.1 billion. Net of Acme packet's cash, the price is USD 1.7 billion. Acme Packet's session border controls enable delivery of voice, data and unified communications services and applications over IP networks. The company's products are deployed by more than 1,900 service providers and enterprises globally, including 89 of the world's top 100 operators. Oracle said the takeover will boost its portfolio for communications providers looking to migrate to all-IP networks. The takeover is expected to close in the first half of 2013, subject to Acme Packet shareholder approval and regulatory clearance.
Lack of toilets, clean water costs world $260 bln a year - Liberian president
2013-01-31 15:17:00| Climate Ark Climate Change & Global Warming Newsfeed
AlertNet: Poor access to sanitation and clean water costs the global economy $260 billion each year, according to Liberia's president who is leading work to craft proposals for a new set of global anti-poverty goals. They are intended replace the Millennium Development Goals (MDGs), which were agreed in 2000 and expire in 2015. "$260 billion in economic losses annually is directly linked to inadequate water supply and sanitation around the world,' Liberian President Ellen Johnson Sirleaf told a meeting...
Lenovo mobile sales jump 77% to USD 1 bln
2013-01-30 11:37:00| Telecompaper Headlines
(Telecompaper) Lenovo reported sales for its fiscal third quarter to December up 12 percent from a year earlier to USD 9.4 billion. Net profit rose 34 percent to USD 205 million, and operating profit was up 26 percent to USD 243 million. The company finished the period with net cash of USD 4.2 billion. Lenovo said its Mobile Internet and Digital Home (MIDH) revenues, which includes smartphones, tablets and smart TVs, accounted for a record 11 percent of company revenue in the quarter, with sales up 77 percent year-over-year to USD 998 million. For the first time, its smartphone business in China was profitable, and Lenovo estimates it had a 12.3 percent share of the Chinese market. The company's global PC shipments outpaced the market contraction and grew 7.9 percent, giving it a 15.9 percent market share. Lenovo recently realigned its product development and supply chain organizations to create two new groups: the Lenovo Business Group, which will focus on mainstream PCs, mobile internet and digital home products; and the Think Business Group, which will focus on Think-branded products targeting high-end consumers and enterprises.
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