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UPDATE 1-Deutsche Telekom buys full control of Slovak business
2015-05-20 06:37:46| Telecom - Topix.net
Deutsche Telekom agreed on Tuesday to buy a 49 percent stake in fixed and mobile operator Slovak Telekom from the Slovak government for 900 million euros , taking full control of the country's former fixed-line monopoly. The Slovak government this month scrapped an initial public offering of the state's shares worth 750 million euros after getting a better offer from Deutsche Telekom, the company's 51 percent owner.
Tags: business
full
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update
DT agrees Slovak Telekom buy-out for EUR 900 mln
2015-05-19 13:26:00| Telecompaper Headlines
(Telecompaper) Deutsche Telekom announced an agreement to acquire the remaining 49 percent in Slovak Telekom it does yet own from the Slovakia government for EUR 900 million. The Slovak government earlier planned an IPO for its stake, until it received a better offer from the German operator. Deutsche Telekom said the price corresponds to an enterprise value of 3.8 times the operator's EBITDA. Claudia Nemat, DT board member for Europe, said ST is a "highly attractive asset", as the only quad-play provider in Slovakia and leading fixed-line operator. Furthermore, it is the second of DT's subsidiaries to operate an all-IP network and recently adopted the operator's Magenta One converged fixed-mobile strategy. The acquisition of the remaining shares allows for simplification of the capital and governance structure of Slovak Telekom and will keep a greater share of cash at the operator, due to an end to dividends to minority shareholders. Slovak Telekom is already fully consolidated by Deutsche Telekom, so the transaction has no impact on group revenue and EBITDA. The transaction is not subject to regulatory approvals and is expected to be completed in the coming weeks.
Tags: eur
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telekom
slovak
Deutsche Telekom snaps up rest of Slovak Telekom
2015-05-19 02:00:00| Total Telecom industry news
German incumbent agrees to acquire remaining 49% of Slovak Telekom for 900 million.
Tags: rest
deutsche
telekom
slovak
Deutsche Telekom close to deal for Slovak Telekom - report
2015-05-13 17:50:00| Telecompaper Headlines
(Telecompaper) Deutsche Telekom is close to a deal to buy the rest of Slovak Telekom after it offered the local government about EUR 900 million, three people familiar with the matter told Bloomberg. The German company, which bought 51 percent of Slovak Telekom in 2000, is in talks to pick up the 49-percent the Slovak government had planned to sell in an initial public offering. The buyout would include locking EUR 100 million in an escrow account until pending legal disputes are settled, the report said. The cabinet of Prime Minister Robert Fico put aside the planned IPO after it got a better offer from an undisclosed strategic investor, Finance Minister Peter Kazimir said earlier this month. This is thought to be Deutsche Telekom, which is likely willing to pay a premium to gain control of the company.
Tags: report
close
deal
deutsche
Deutsche Telekom maintains outlook after solid Q1
2015-05-13 08:34:00| Telecompaper Headlines
(Telecompaper) Deutsche Telekom reported first-quarter net revenue up 13.1 percent year-on-year to EUR 16.8 billion, while adjusted EBITDA increased 11.0 percent to EUR 4.6 billion. Excluding exchange rate effects, particularly the stronger US dollar, and changes in scope, revenues rose 4.7 percent and EBITDA was up 5.6 percent, driven by the improved performance at T-Mobile US. Revenues rose 1.9 percent in Germany and 36.1 percent in the US, but fell 0.6 percent in the rest of Europe and were down 2.5 percent at the Systems Solutions unit. Net profit fell to EUR 787 million from EUR 1.817 billion a year ago when the company realised a profit of EUR 1.7 billion on the sale of its stake in Scout. Capital expenditure, excluding spectrum licences, rose 22.5 percent compared to a year ago to EUR 2.5 billion, driven by a sharp increase in Germany to EUR 950 million. As a result, free cash flow fell 12 percent to EUR 0.9 billion. Based on the solid Q1 results and constant exchange rates, DT confirmed its guidance for the full year for adjusted EBITDA around EUR 18.3 billion and free cash flow at EUR 4.3 billion.
Tags: solid
deutsche
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maintains
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