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Alibaba invests USD 590 mln in Meizu
2015-02-09 08:39:00| Telecompaper Headlines
(Telecompaper) Alibaba Group has taken a USD 590 million minority stake in Chinese smartphone manufacturer Meizu. Alibaba and Meizu said they will cooperate at both strategic and business levels to achieve a deeper integration of Meizu's hardware and Alibaba Group's mobile operating system YunOS. Alibaba will provide Meizu with resources and support in e-commerce, the mobile internet, mobile operating systems and data analysis, with the aim of developing Meizu's smartphone ecosystem. Alibaba Group's online shopping marketplaces will also become distribution channels for Meizu's smartphones and other devices.
Verizon confirms wireline, tower sales for USD 15 bln
2015-02-06 08:37:00| Telecompaper Headlines
(Telecompaper) Verizon Communications has confirmed plans to sell part of its wireline assets to Frontier Communications for USD 10.54 billion. Frontier will acquire the local wireline operations serving customers in California, Florida and Texas for USD 9.9 billion in cash and USD 600 million in assumed debt. In addition, Verizon has agreed to lease the rights to over 11,300 of its wireless towers to American Tower Corporation, which will also purchase approximately 165 Verizon towers, for a total upfront payment of USD 5 billion. Part of the proceeds of the sales will be returned to shareholders in the form of a USD 5 billion accelerated share-repurchase programme.
MaxLinear acquires Entropic for USD 287 mln
2015-02-04 08:40:00| Telecompaper Headlines
(Telecompaper) MaxLinear has signed an agreement to acquire Entropic Communications, a provider of semiconductor products for the connected home, for an estimated USD 287 million. The boards of directors of both companies have approved the deal. Entropic shareholders will receive USD 1.20 per share in cash and 0.2200 shares of MaxLinear shares for each Entropic share outstanding. Based on MaxLinear's closing stock price on 2 February, the deal is valued at USD 3.01 per Entropic share, with an implied enterprise value of USD 181 million, net of Entropic's cash balance as of end December. When the deal closes, shareholders of MaxLinear and Entropic will own 65 percent and 35 percent of the merged company. MaxLinear expects the deal to be non-GAAP earnings accretion in the first full quarter post-close. After the close, Entropic interim CEO Ted Tewksbury will join the MaxLinear board of directors. The company anticipates operating synergies of over USD 20 million in the first full calendar year post-close. Increased scale and projected cost savings are expected to lower combined non-GAAP operating expenses, generate significant operating margin expansion, and accelerate MaxLinear's timing to achieving its stated target operating model.
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Apple sells USD 6.5 bln in bonds, puts 2 bln in Mesa centre
2015-02-03 09:32:00| Telecompaper Headlines
(Telecompaper) Apple sold USD 6.5 billion in bonds on 2 February, including a round of 30-year debt that will pay 3.5 percent per year, the Wall Street Journal reported. In April 2013, Apple sold USD 17 billion in bonds, when a 30-year bond yielded about 3.9 percent. Apple's deal is the largest US high-grade corporate-bond sale so far this year, according to S&P Capital IQ LCD. Apple said in the prospectus that it will put proceeds towards general corporate purposes, including share buybacks. The company also announced its intention to invest USD 2 billion in the creation of a new data centre at a facility in Mesa, Arizona, the New York Times reported. The State of Arizona said Apple announced the plans after abandoning plans to produce sapphire materials. GT Advanced Technologies had been contracted to make sapphire screens for iPhones, among other things. After GTAT declared bankruptcy in October, Apple released it latest iPhones without sapphire. Apple said that the multibillion-dollar investment in the Arizona data centre was one of its most significant investments ever, creating 600 engineering and construction jobs. The centre will be partly used as a central command centre for monitoring Apple's other data centres around the world, the company said. The facility measures 1.3 million feet.
AT&T pays USD 18.2 billion for AWS-3 spectrum
2015-01-30 21:07:00| Telecompaper Headlines
(Telecompaper) At the conclusion of the FCC's Auction 97, AT&T has successfully acquired licenses for a near nationwide contiguous 10x10 MHz block of AWS-3 spectrum. As a result of the acquisition, AT&T now covers 96 percent of the US population with contiguous AWS-3 spectrum.
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