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Sky, BT pay GBP 5.14 bln for Premier League live rights
2015-02-11 08:31:00| Telecompaper Headlines
(Telecompaper) The English Premier League has sold seven packages of live TV rights for 2016/17 to 2018/19 to Sky and BT for a total of GBP 5.14 billion. Sky has secured packages A, C, D, E and G totalling 126 matches and BT packages B and F for 42 matches. Sky will pay GBP 1.29 billion per season, an 83 percent rise on its current contract. Sky Sports will show more matches than before, at 126 games per season under the new deal, compared to 116 now, and Friday night matches for the first time. The games can be watched by subscribing to the channels or with weekly Now TV passes. BT Sport said it will show 42 live top-flight Saturday and midweek games, four more than at present. BT Sport show a live Saturday evening game every Premier League weekend. The operator said it will be paying GBP 320 million per season for the rights, compared to GBP 246 million under the current contract. This is the equivalent of GBP 7.6 million per game, up 18 percent on GBP 6.5 million now. BT's football content includes exclusive Champions League and Europa League games.
BT agrees to buy EE for GBP 12.5 billion
2015-02-05 08:52:00| Telecompaper Headlines
(Telecompaper) Deutsche Telekom and Orange have reached an agreement to sell their UK joint venture EE to BT for GBP 12.5 billion. BT expects annual cost and capex synergies of GBP 360 mllion within four years of closing the takeover, as the two operators combine their sales, marketing and administration and networs. As it takes advantage of cross- and up-selling opportunities, the revenue synergies are expected to reach a total GBP 1.6 billion. Adjusted for the value of the synergies, the takeover price values EE at 6.0 times its EBITDA in 2014. Deutsche Telekom will become the largest shareholder in BT with a 12 percent stake and may also receive a cash payment, depending on BT's share price at closing of the deal. Orange will receive a 4 percent stake in BT. The shares in BT will be subject to an 18-month lock-up period. In addition, the German operator will hold a seat on BT's board. The transaction requires approval of BT's shareholders and regulatory authorities. Closing is expected before the end of March 2016.
BT quarterly revenue slips 3 percent to GBP 4.48 billion
2015-01-30 09:29:00| Telecompaper Headlines
(Telecompaper) BT reported a revenue down 3 percent to GBP 4.48 billion in its third quarter to the end of December 2014, thanks to a good performance at BT Consumer. The company added a net 119,000 retail broadband customers in the period, in large part driven by its BT Sport and ESPN channels. The third quarter also saw Openreach achieve record growth in the number of landlines, with all major ISPs responding to market demand for fibre. Capital expenditure rose by 3 percent to GBP 599 million. BT said its fibre network now covers three quarters of the UK and the company will launch large-scale pilots of G.fast this summer. CEO Gavin Patterson said the company expects to be able to deliver ultrafast broadband at up to 500 Mbps to most of the country by 2025. EBITA rose by 2 percent to GBP 1.57 billion, with adjusted earnings per share up 10 percent to GBP 0.08. By business unit, BT Global Services' EBITDA was down 10 percent to GBP 261 million on revenue down 8 percent to GBP 1.69 billion. BT Business's EBITDA rose 4 percent to GBP 266 million on revenue down 2 percent to GBP 789 million. BT Consumer's EBITDA rose by 43 percent to GBP 251 million on revenue up 7 percent to GBP 1.08 billion, BT Wholesale's EBITDA fell 7 percent to GBP 136 million on revenue down 10 percent to GBP 532 million. Openreach's EBITDA slipped 1 percent to GBP 651 million on revenue also down 1 percent to GBP 1.26 billion. BT, which is expected to sell bonds to finance its acquisition of mobile operator EE, reaffirmed its previously announced outlook. The group expects underlying revenue excluding transit in 2014/15 to be broadly level with 2013/14 with growth in 2015/16. Adjusted EBITDA guidance is GBP 6.2-6.3 billion in 2014/15 with further growth in 2015/16. Normalised free cash flow is expected to be more than GBP 2.6 billion this year and to grow next year.
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Hutchison in exclusive talks to buy O2 UK for GBP 10.25 bln
2015-01-23 08:49:00| Telecompaper Headlines
(Telecompaper) Hong Kong's Hutchison Whampoa, the parent company of mobile operator 3 UK, announced that it has entered into exclusive talks with Telefonica about the acquisition of mobile operator O2 UK for GBP 9.25 billion in cash to be paid at closing and a further GBP 1 billion after the combined cash flow of 3 UK and O2 UK reaches an agreed threshold. Hutchison said that the transaction remains subject to due diligence over O2, agreement on terms and corporate and regulatory approvals. Separately, Hutchison finance director Frank Sixt told the Financial Times that the acquisition would be completed around the middle of 2016, assuming regulatory approval. Hutchison thinks it can find GBP 3 billion to GBP 4 billion of synergies through the merger. Analysts estimate that at GBP 10 billion, the price reflects 7-8 times 2015 estimated earnings, in line with what BT is paying for EE.
BT enters exclusive talks to buy EE for GBP 12.5 billion
2014-12-15 21:10:00| Telecompaper Headlines
(Telecompaper) BT has entered into exclusive talks to acquire UK mobile operator EE from Deutsche Telekom and Orange for GBP 12.5 billion in cash and new shares. Under the non-binding terms agreed, Deutsche Telekom would hold 12 percent of BT and would be entitled to appoint a member to the BT board. Orange would own 4 percent of BT. The period of exclusivity will last several weeks to allow BT to complete due diligence and for negotiations on a definitive agreement to be reached. While continuing discussions, BT will progress its own plans for providing enhanced fixed-mobile converged services for businesses and consumers, in line with previous announcements, and remains confident of delivering on these plans should a transaction not take place. BT expects significant synergies mainly through network and IT rationalisation, back-office consolidation and savings on procurement, marketing and sales costs. In addition, BT expects to generate revenue synergies through selling fixed-line services to EE customers who do not currently take a service from BT, and by accelerating the sale of converged fixed-mobile services to BT's existing consumer and business customers.
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