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Tesco talks to bankers about Tesco Mobile sale - report

2015-05-11 10:07:00| Telecompaper Headlines

(Telecompaper) UK supermarket chain Tesco has held talks with banks about the possible sale of MVNO Tesco Mobile, its 50/50 joint venture with O2 UK, people familiar with the situation told the Financial Times. The move is part of new CEO Dave Lewis's strategy of selling non-core assets to return the group to financial health. Tesco Mobile could be worth hundreds of millions of pounds, as it contributed around GBP 100 million of profit for Tesco in 2014 and benefits from the valuable Tesco brand. The MVNO had over 4 million subscribers at the end of 2014, according to Ovum. There are over 250 Tesco Phone shops and the company sells up to 2 million handsets a year. Tesco Mobile competes with value-led MVNOs TalkTalk and Giffgaff. The supermarket chain has already sold its Blinkbox VoD service and fixed-line business to TalkTalk, which could be a potential acquirer. None of the companies would comment on the matter.

Tags: report sale mobile talks

Singapore bond bankers vie for deals as OCBC closes gap on DBS

2015-04-07 03:14:21| IT Services - Topix.net

Oversea-Chinese Banking Corp is closing the gap on top-ranked Singapore dollar bond arranger DBS Group Holdings, trailing by the narrowest margin on record last quarter. OCBC helped issue $1.56 billion of offerings at home in the three months to March 31, boosting its market share to 32.4 per cent, more than triple a year earlier, according to data compiled by Bloomberg.

Tags: on deals vie singapore

Banker's Caddy: Square 1 Bank is North Carolina's highest performer

2015-03-11 14:48:44| IT Services - Topix.net

Is Durham's own Square 1 Bank the highest performing bank in the state? It is according to Banker's Caddy. Banker's Caddy, a St. Louis-based research firm that tracks and ranks banks on several ratios, including earnings, asset quality, capitalization, growth and liquidity, released its 2014 bank rankings this week, putting entrepreneur-focused Square 1 Bank, which is about to be acquired by Los Angeles-based PacWest , at the top of the list.

Tags: north highest bank square

NY wants bankers to vow they're not funding terrorism

2015-02-26 02:33:52| IT Services - Topix.net

Benjamin Lawsky, superintendent of the New York state Department of Financial Services, wants to put senior banking executives on the book for detecting money laundering. When accounting scandals at Enron, WorldCom and other corporations shook the markets more than a decade ago, federal lawmakers responded by requiring top executives to personally attest that their companies' financial statements were accurate.

Tags: funding terrorism bankers vow