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Trujillo Said to Seek $9.6 Billion With Arab Funds for Telecom Italia Bid
2014-09-26 06:04:09| Telecom - Topix.net
Former Telstra Corp. Chief Executive Officer Sol Trujillo is seeking to raise as much as 7.5 billion euros to bid for a stake in Telecom Italia SpA , according to people familiar with the matter. Trujillo has discussed the plan with New York-based financial advisers, and sovereign-wealth funds in Qatar and Abu Dhabi are among investors that have expressed interest, said the people, asking not to be identified because the proposal is private.
Trujillo preparing EUR 7.5 bln Telecom Italia bid - report
2014-09-25 14:57:00| Telecompaper Headlines
(Telecompaper) US businessman Sol Trujillo, former CEO of Australian operator Telstra, is seeking to raise around EUR 7.5 billion to bid for a stake in Telecom Italia, according to unnamed sources cited by Bloomberg. Sovereign wealth funds in Qatar and Abu Dhabi are said to have expressed interest in funding Trujillo's plan, dubbed "Adriano". If the project is successful, Trujillo would become Telecom Italia's CEO and set up a new management team, according to Bloomberg, which says EUR 7.5 billion is equivalent to around half of Telecom Italia's market value. The sources added that Trujillo has yet to approach Telecom Italia because the plan isn't fully funded and he wants to drum up support from the Italian government, which retains a so-called golden share to veto deals involving industries it considers to be of national interest. However, senior Italian officials are said to be aware of the project and the government is apparently open to the idea of a foreign investor in Telecom Italia.
Telecom Italia delays board meeting on Argentina doubts
2014-09-25 09:55:00| Telecompaper Headlines
(Telecompaper) Telecom Italia has delayed its board meeting scheduled for 25 September until the following day as doubts persist as to whether the proposed sale of Telecom Argentina to US-backed investment fund Fintech will finally complete. A number of factors have complicated the deal, above all the ongoing financial crisis in Argentina and the delays in securing regulatory approval from local authorities. Argentina's competition watchdog told Reuters that it has not yet decided whether to approve the transaction, simply confirming that "the process is moving normally, but there is no news so far." Telecom Italia has already pushed back completion of the sale twice due to delays in receiving approval from Buenos Aires, and the Fintech group of Mexican businessman David Martinez has also sought to renegotiate the acquisition price of USD 960 million as a result of Argentina's technical default. Leading Telecom Italia shareholders such as Marco Fossati have criticised the terms of the deal, which was agreed under a previous board controlled by the Telco investor group led by Telefonica, which also operates in Argentina.
Tags: board
meeting
italia
argentina
Manitoba Telecom reaches deal with unions, retirees over pension surplus funds
2014-09-25 05:50:48| Wireless - Topix.net
Manitoba Telecom Services Inc. says it has reached agreement with its unions and retirees over implementing a court ruling that a multimillion-dollar pension surplus that existed when the former Manitoba Telephone System was privatized in 1997 belonged to the workers and retirees. Manitoba Telecom said the company and its advisory have been working closely with its unions and retiree representatives for several month to develop an implementation plan, which it said was "unanimously agreed to" Wednesday by all parties.
Tags: deal
funds
telecom
pension
Manitoba Telecom reaches deal with unions, retirees over pension surplus funds
2014-09-25 04:00:05| IT Services - Topix.net
Manitoba Telecom Services Inc. says it has reached agreement with its unions and retirees over implementing a court ruling that a multimillion-dollar pension surplus that existed when the former Manitoba Telephone System was privatized in 1997 belonged to the workers and retirees. Manitoba Telecom said the company and its advisory have been working closely with its unions and retiree representatives for several month to develop an implementation plan, which it said was "unanimously agreed to" Wednesday by all parties.
Tags: deal
funds
telecom
pension
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