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UnitedHealth Group close to buying Helios for about $1.6 bln -source
2015-10-30 01:52:08| Beverages - Topix.net
Oct 28 Health Insurer UnitedHealth Group Inc is nearing a deal to buy Helios for more than $1.6 billion, according to a source familiar with the matter. The takeover of Helios, which is owned by Kelso & Company and Stone Point Capital LLC, could be announced as early as this week, Bloomberg reported earlier on Wednesday, citing people with knowledge of the matter.
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PayPal sales up 15% to USD 2.26 bln, adds 4 mln users
2015-10-29 08:58:00| Telecompaper Headlines
(Telecompaper) Digital payment processor PayPal reported third quarter revenues up 15 percent year on year to USD 2.26 billion, or USD 0.31 per share, just below its anticipated earnings target of USD 2.27 billion, or USD 0.29 per share. In what was the company's first earnings report since splitting from eBay in July, PayPal said the strength of the USD dollar hurt its transaction volumes in Europe and China, with revenues rising 19 percent on an FX neutral basis. However, the company's adjusted profits rose 31 percent to USD 377 million and it increased its total payment volume by 27 percent to USD 68.74 billion, including USD 2.1 billion processed through its P2P app Venmo, which grew 200 percent year on year. Transactions from mobile devices were up 38 percent from the previous quarter alone to a total of 345 million. Customer numbers increased from 169 million in Q3 to 173 million on 30 September and the company continued to add new partners, announcing deals with Macy's, Shell in the UK and Latin America's largest mobile provider America Movil.
MTN confirms USD 5.2 bln fine in Nigeria
2015-10-26 16:30:00| Telecompaper Headlines
(Telecompaper) MTN Group has confirmed that the Nigerian Communications Commission (NCC) has imposed a fine equivalent to USD 5.2 billion on its subsidiary in Nigeria. In a statement to its shareholders, MTN said this fine relates to the timing of the disconnection of 5.1 million MTN Nigeria subscribers who were disconnected in August and September for failure to register their personal details. The fine is based on an amount of NGN 200,000 for each unregistered subscriber. MTN Nigeria said it's in discussions with the NCC "to resolve the matter in recognition of the circumstances that prevailed with regard to these subscribers".
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US court dismisses USD 15 bln wiretap case against Facebook
2015-10-26 09:12:00| Telecompaper Headlines
(Telecompaper) A US district court in California has dismissed a USD 15 billion lawsuit against Facebook, accusing the company of secretly tracking the internet activity of its users after they log off, Bloomberg reported. The judge agreed with Facebook's argument that the case should be dismissed because subscribers did not specify how they were harmed. The judge, who took more than three years to issue his ruling after hearing arguments in the case, said the users could refile most of their claims in a revised lawsuit.
ATC to buy 51% in Indian towers operator Viom for INR 76 bln
2015-10-21 14:39:00| Telecompaper Headlines
(Telecompaper) American Tower Corporation confirmed an agreement to buy a 51 percent stake in Indian towers operator Viom Networks for INR 76 billion (EUR 1 billion) from mobile operator Tata Teleservices and SREI Infrastructure Finance. The agreement includes conditions for ATC to buy the remaining 49 percent held by Tata Teleservices, Macquarie SBI Infrastructure Investments, SBI Macquarie Infrastructure Trust and IDFC Private Equity Fund. After completing the takeover, American Tower will merge its existing Indian portfolio of approximately 14,000 towers with Viom, which operates around 42,200 towers and 200 DAS in India. Started as a joint venture by Tata with local investors, Viom now serves nearly all of India's major mobile operators. The company generated INR 50 billion in rental and management revenue and INR 21 billion in gross profit in the three months to June 2015. Viom had INR 58 billion of debt at the end of September.
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