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Baidu ups bank loan to USD 2 bln - report
2016-06-03 09:40:00| Telecompaper Headlines
(Telecompaper) Baidu has upped the size of its USD 1 billion five-year loan to USD 2 billion, Bloomberg reported, citing people familiar with the matter. The company received commitments from 21 banks for the facility, the sources said. Baidu announced the USD 1 billion loan in April, saying it would put the money to general corporate purposes. No comment was immediately available.
Softbank to sell USD 7.9 bln in Alibaba shares
2016-06-01 09:24:00| Telecompaper Headlines
(Telecompaper) Japan's SoftBank said it will be selling USD 7.9 billion worth of shares in Alibaba in order to up its own liquidity and pay back debt. The transactions will include the sale of USD 2.0 billion worth of shares to Alibaba, USD 400 million worth of shares to members of the Alibaba Partnership acting collectively and USD 500 of shares to a private equity group, plus another USD 5.0 billion worth, to be offered by a newly formed trust in the form of American depositary shares (ADSs) in a private placement to institutional buyers. There will, in addition, probably be a greenshoe of USD 1.0 billon more worth of shares.
Snapchat confirms USD 1.8 bln funding round
2016-05-26 15:50:00| Telecompaper Headlines
(Telecompaper) Snapchat has confirmed a Series F financing round of USD 1.8 billion, in a filing with the SEC. Of the total, USD 1.158 billion was raised in the past five months, reliable sources tell TechCrunch. Investors in the round reportedly included General Atlantic, Sequoia Capital, T. Rowe Price, Lone Pine, Glade Brook Capital, IVP, Coatue Management and Fidelity, among others. The website also obtained details on Snapchat's revenue performance, showing its turnover was just USD 59 million last year. However, sales accelerated in the second half of the year after it started more monetisation efforts, growing from USD 4 million in Q1 to USD 33 million in Q4.
Tags: round
usd
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confirms
Egypt's President Inaugurates $2.7 bln Worth of Electricity Projects
2016-05-18 19:16:00| Transmission & Distribution World
Egypt's President Abdel-Fattah El-Sisi has inaugurated eight power stations, adding more than 3,600 MW to the national electricity grid at a total cost of $2.7 billion. read more
Tags: president
projects
worth
electricity
Vodacom Group FY revenue rises 7.5% to ZAR 80 bln
2016-05-16 09:55:00| Telecompaper Headlines
(Telecompaper) Vodacom Group posted a 7.5 percent increase in its revenue to ZAR 80.01 billion for the year ended 31 March from ZAR 74.50 billion in the previous year, supported by strong demand for devices, particularly smartphones. Preliminary results show that service revenue increased 7.4 percent to ZAR 66.76 billion, underpinned by improved trends in voice revenue and data revenue growth of 28.5 percent. Data revenue contributed 31.9 percent of group service revenue, up from 26.7 percent a year ago.
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