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Apple invests USD 1 bln in Chinese car service Didi
2016-05-13 08:48:00| Telecompaper Headlines
(Telecompaper) Apple has invested USD 1 billion the Chinese ride-sharing service Didi Chuxing. The investment comes as Apple faces slowing sales of the iPhone and attempts to put a greater focus on services to grow revenue. China is also its second-largest market. Didi operates a service similar to Uber and also counts as its investors Alibaba Group and Tencent. THe Apple investment is part of a larger round of USD 2 billion in financing, which was expected to value to company at USD 25 billion, Bloombegr reported. CEO Tim Cook told Reuters that he sees opportunities for Apple and Didi Chuxing to collaborate in the future. "We are making the investment for a number of strategic reasons, including a chance to learn more about certain segments of the China market," he said. "Of course, we believe it will deliver a strong return for our invested capital over time as well."
Oi revenues down 4% to BRL 6.8 bln in Q1
2016-05-12 16:33:00| Telecompaper Headlines
(Telecompaper) Brazilian operator Oi reported first quarter net revenues of BRL 6.76 billion, down 4.4 percent year on year, impacted by MTR cuts, increased competition resulting form the ongoing economic recession and costs related to a debt it's in the process of restructuring. EBITDA fell 12.6 percent to BRL 1.69 billion, due above all to lower revenues, while the company's net loss widened to BRL 1.64 billion from BRL 469.9 million a year earlier. Capex increased 22.3 percent year on year to BRL 1.20 billion in the quarter, focusing mainly on network modernisation as part Oi's transformation plan to support recently-launched offers and improve customer experience. Oi also announced that its debt was BRL 49.4 billion at the end of the first quarter, down from BRL 54.9 billion, with almost 80 percent held in foreign currencies.
Microsoft to invest 1 bln in new Bengaluru office - report
2016-05-06 14:00:00| Telecompaper Headlines
(Telecompaper) Microsoft is scouting for a 1.1 million square feet office space in Bengaluru to consolidate and expand its business in India. The move is part of chief executive Satya Nadella's plans to tap into the local market and engineering talent. Microsoft has already looked at properties in Embassy GolfLinks and North Bengaluru but is yet to sign a deal, ET reports, citing three unnamed people with knowledge of the matter. Microsoft currently operates from Embassy GolfLinks Business Park.
Tags: report
office
microsoft
invest
BCE buys Manitoba Telecom Services for CAD 3.9 bln
2016-05-02 18:25:00| Telecompaper Headlines
(Telecompaper) BCE will buy Manitoba Telecom Services (MTS) in a transaction valued at CAD 3.9 billion. MTS shareholders will receive CAD 40.00 per share, in a combination of cash of BCE shares. The deal has been approved by the boards of both MTS and BCE and is supported by the management teams of both companies. Winnipeg will become the headquarters for Western Canada, set to host 6,900 employees with the addition of the MTS team.
Tags: services
cad
telecom
buys
Rovi buys TiVo for USD 1.1 bln
2016-05-01 23:02:00| Telecompaper Headlines
(Telecompaper) Rovi will be acquiring TiVo for USD 10.70 per share in cash and stock, translating into a total of USD 1.1 billion. The new company will continue to be led by Rovi CEO Tom Carson and upon closing of the transaction will adopt the TiVo brand as the new company name. The offer represents a premium of 40 percent over TiVo's closing price on 23 March. Rovi will finance the deal from cash on hand. The combined company will then have an estimated USD 150-270 million cash on hand at closing.
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