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Equinix to buy Telecity for GBP 2.35 billion
2015-05-29 09:20:00| Telecompaper Headlines
(Telecompaper) US data centre operator Equinix has reached an agreement to acquire UK-based Telecity for GBP 2.35 billion in cash and shares. Equinix offered GBP 1.145 per share, with GBP 0.5725 payable in cash, representing an around 35 percent premium on Telecity's closing price on 10 February, the day before Telecity announced its planned merger with Dutch data centre operator Interxion. When the transaction is completed, Telecity shareholders will own around 10.1 percent of the combined group. Telecity CEO John Hugues, who will sit on Equinix's board, said, "Having carefully considered all our options, the board believes this is a compelling offer and an excellent outcome for shareholders, employees and customers." The agreement scuppers Telecity's February bid to buy Interxion in all-stock deal.
Barclays injects GBP 100 mln into tech companies
2015-05-04 14:33:00| Telecompaper Headlines
(Telecompaper) Barclays launched a new GBP 100 million fund to help fast growing technology businesses accelerate to the next level. The new drive will see the bank backing some of the most innovative UK technology businesses with lending of up to GBP 5 million, repayable over three years. Until now, this type of lending has not been widely available to UK businesses, whereas their US counterparts have been able to grow rapidly through access to debt finance.
Vodafone spends GBP 2.78 bln on Indian spectrum licences
2015-03-26 18:54:00| Telecompaper Headlines
(Telecompaper) Vodafone India has acquired spectrum in 12 telecom circles for a total cost of INR 258.1 billion (GBP 2.78 billion). The mobile operator managed to acquire 900 MHz spectrum in all six of its circles where its licences are set to expire at the end of this year. It also added 5 MHz in the 900 MHz band in Orissa and a further 30 MHz in the 2,100 MHz band in six new circles. In addition the company bought 5.6 MHz of 1,800 MHz spectrum in three circles to complement the 49 MHz of 1,800 MHz spectrum acquired in the February 2014 auction. Vodafone said the new licences will allow it to expand 3G services over its own network from nine to 16 circles. Previously it had relied on roaming agreements in order to offer 3G in many markets. With the new rights, it has spectrum in circles representing 88 percent of its service revenues.
Tags: indian
spectrum
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vodafone
Telefonica agrees sale of O2 UK to 3 for GBP 10.25 billion
2015-03-25 08:45:00| Telecompaper Headlines
(Telecompaper) Hutchison Whampoa reached an agreement with Telefonica to buy O2 UK for GBP 10.25 billion. The price includes an initial payment of GBP 9.25 billion and an additional GBP 1 billion to be paid once the combined O2 and 3 UK reach a certain cash flow. Telefonica said it plans to use much of the proceeds to pay off its debt. It first announced talks on the sale of O2 in January. Pending approval by regulatory authorities, the companies aim to close the deal by mid-2016. The operators plan to seek competition clearance from the EU. The merger of O2 with Hutchison's 3 UK will create the UK's largest mobile operator, with almost 33 million customers.
Virgin Media announces GBP 3 billion fibre rollout plan
2015-02-13 09:23:00| Telecompaper Headlines
(Telecompaper) UK cable operator Virgin Media has announced that it will invest an additional GBP 3 billion with the support of its parent company Liberty Global, in "Project Lighting", which will bring 152 Mbps download speeds to another 4 million homes and businesses over the next five years. This will increase the number of homes and businesses to which Virgin Media can offer services by almost a third to nearly 17 million premises by 2020. The investment will be financed mainly through incremental borrowings. This network expansion programme is expected to create 6,000 new jobs in the UK at Virgin Media and across its construction partners. It also will increase the number of apprenticeships created by Virgin Media to 1,000 over the next five years. Network expansion will be prioritised according to demand from households and companies, with a focus on areas closest to Virgin Media's existing network. Virgin Media calls on consumers and businesses to register their interest at virginmedia.com/cablemystreet.
Tags: media
plan
virgin
billion
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