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Oi negotiates extension of BRL 14 bln in bank debt - report
2016-08-15 09:15:00| Telecompaper Headlines
(Telecompaper) Brazilian operator Oi is close to reaching a tentative agreement with banks to postpone BRL 14 billion in debt payments without any discounts, reports O Globo. The proposal on the table is to divide up this amount over a period of 15 years, a source familiar with the process said. Banco do Brasil is the largest creditor, with BRL 4.4 billion, followed by BNDES (BRL 3.3 billion), China Development Bank (BRL 2.4 billion), Caixa Economica Federal (BRL 1.9 billion) and Itau (BRL 1.5 billion). Financial institutions account for just over 21 percent of the total debt of the company, of approximately BRL 65.4 billion. According to the same source, the banks will not accept shares of the operator in exchange for debt.
Tags: report
bank
extension
debt
TPG to buy RCN, Grande Com for USD 2.25 bln - report
2016-08-15 09:07:00| Telecompaper Headlines
(Telecompaper) Private-equity firm TPG has agreed to buy US cable operators RCN and Grande Communications for about USD 2.25 billion including debt, people familiar with the matter told the Wall Street Journal. Google Capital is taking a minority stake in the companies, which are currently owned by private-equity firm Abry Partners, some of the people said. The transactions could be announced 15 August. RCN provides cable, phone and internet service on the East Coast and in Chicago, while Grande offers the same services in Texas. Grande and RCN have shared management and other resources since Abry agreed to buy the two companies in 2009 and 2010, respectively. Their management, including CEO Jim Holanda, will stay on after the sale, the report said.
Telstra commits AUD 3 bln more for networks, digitisation
2016-08-11 09:37:00| Telecompaper Headlines
(Telecompaper) Telstra said it will invest up to AUD 3 billion more into networks and digitisation over the next three years, in a move CEO Andrew Penn said will ensure the company's technological leadership and a significantly improved customer experience. "Our customers and our networks are our biggest assets. We must invest to set new standards and deliver excellent experiences for our customers," Penn said. The CEO will gradually disclose more details about the investment programme over the course of 2017 to 2019 but said a significant proportion of the incremental investment will go towards transforming the next generation of networks.
Tags: networks
aud
commits
telstra
Verizon confirm takeover of Yahoo web assets for USD 4.8 bln
2016-07-25 13:22:00| Telecompaper Headlines
(Telecompaper) Verion has confirmed a deal to acquire Yahoo!'s web activities for USD 4.83 billion in cash. The acquisition sees Verizon expand further in digital media, after its takeover AOL last year, investments in video content and launch of a mobile video service. Yahoo's web properties and digital advertising business will be merged with AOL; additional technology assets to be acquired by Verizon include the programmtic ad platform Brightroll, mobile apps analytics service Flurry, and Gemini, Yahoo's native and search advertising platform. Yahoo will hold on to its stakes in Alibaba and Yahoo Japan, its cash and convertible notes, certain minority investments, and non-core patents (called the Excalibur portfolio). Following the takeover, which is expected to close by Q1 2017, Yahoo will change its company name and operate as a publicly traded investment company.
Verizon set to buy Yahoo! for USD 4.8 bln - report
2016-07-25 07:43:00| Telecompaper Headlines
(Telecompaper) Verizon has won the bidding to buy Yahoo!'s web assets for USD 4.8 billion, Bloomberg reports. People with direct knowledge of the situation said the deal will be announced soon. The acquisition includes Yahoo real estate assets, while some intellectual property is to be sold separately, the report said. Yahoo will be left with its stakes in Alibaba Group and Yahoo Japan, with a combined market value of about USD 40 billion.
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