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Alibaba in talks for USD 3-4 bln loan - report
2016-02-26 15:29:00| Telecompaper Headlines
(Telecompaper) Alibaba is in talks to borrow up to USD 4 billion to fund expansion plans, including acquisitions, the Wall Street Journal reported, citing people familiar with the matter. The discussions, involving several banks, started with plans for a USD 3 billion loan, but the amount could be increased to USD 4 billion, the people said. One source expects the loan to be finalized next month.
Verizon to buy XO fibre network business for USD 1.8 bln
2016-02-22 15:49:00| Telecompaper Headlines
(Telecompaper) Verizon has agreed to buy XO Communications' fibre-optic network business for USD 1.8 billion. The deal gives Verizon access to XO's fibre-based IP and Ethernet networks to serve business and wholesale customers as well as boost backhaul for its mobile network. In addition, Verizon will lease XO's wireless spectrum, with an option to buy that spectrum by the end of 2018. Pending regulatory approval, the companies expect to close the deal in the first half of 2017. XO was saved from bankruptcy by Carl Icahn in 2003, and he is the sole shareholder of the parent company XO Holdings. Icahn said in a statement that while the sale to Verizon "does not represent a significant annualized return" on the investment in XO, "in today's environment it does represent the best achievable outcome for the company's customers, employees and owner".
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Hungry for growth, China's top chipmaker SMIC budgets US$2.1 bln for...
2016-02-19 16:55:56| Semiconductors - Topix.net
Semiconductor Manufacturing International Corp , China's largest contract chipmaker, plans to significantly raise its production capacity this year to meet strong market demand, after posting record-high net profit and revenue last year. The Shanghai-based company has budgeted about US$2.1 billion in capital expenditure for its foundry operations, up from US$1.4 billion last year, to ratchet up the capabilities at three of its six fabrication plants, or fabs, on the mainland.
Ingram Micro sells for USD 6 bln to HNA
2016-02-18 10:09:00| Telecompaper Headlines
(Telecompaper) US-based electronics distributor Ingram Micro has agreed to be acquired by China's Tianjin Tianhai for USD 38.90 a share in cash, with the equity value reaching around USD 6 billion. Ingram Micro will become a part of HNA Group, a Hainan-based Fortune Global 500 enterprise group and a leader in aviation, tourism and logistics and the largest stockholder of Tianjin Tianhai. The transaction, which has been unanimously approved by both Ingram Micro's and Tianjin Tianhai's boards of directors and is expected to close in the second half, represents a premium of 39 percent over the average closing share price of Ingram Micro for the 30 trading days to 16 February.
Noble Energy posts quarterly loss, hurt by $2.2 bln in charges
2016-02-17 15:00:00| Energy - Topix.net
Feb 17 U.S. oil and gas producer Noble Energy Inc reported a quarterly loss, compared with a profit a year earlier, hurt by $2.2 billion in charges, including on asset write downs. Noble's net loss was $2.03 billion, or $4.73 per share, in the fourth quarter ended Dec. 31, compared with net income of $402 million, or $1.05 per share, a year earlier.
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