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Tim Dooling as new president of Koda Care vertical
2015-11-02 06:00:00| Happi Breaking News
Tags: care
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Oi enters exclusive talks with L1 on TIM deal
2015-10-31 16:17:00| Telecompaper Headlines
(Telecompaper) Brazilian operator Oi has agreed to enter exclusive talks with L1 Technology on its proposal for a capital injection conditional on agreeing a merger with TIM Brasil. Oi said it made a proposal to L1, a company owned by Russian billionaire Mikhail Fridman, for an exclusivity period of seven months, starting from 23 October. L1 confirmed the talks in a statement, saying discussions were still at a preliminary stage. The two companies will explore proposals "to develop viable structuring and financing options that would enable Oi to participate in any consolidation of the Brazilian telecommunications sector". L1 Technology said it is a long-term investor, and its team has ten years' experience in the telecoms sector in emerging and developed markets. If the transaction is completed, Oi said it expects it will lead to a reduction in leverage and help turn the company into a more robust player, supported by the generation of important synergies and economies of scale. A potential business combination of Oi and TIM would create a more complete and well-positioned telecommunications operator that would be able to compete against global players already operating in Brazil, Oi said.
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Oi to hold exclusive talks on TIM merger
2015-10-30 01:00:00| Total Telecom industry news
Brazilian operator agrees to seven-month exclusivity period with Letter One with a view to brokering TIM tie-up.
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BSA elects Tim Breen as President.
2015-10-28 13:31:09| Industrial Newsroom - All News for Today
Bearing Specialists Association has elected Tim Breen, Motion Industries, Inc., as President for 2015–2016. Reporting on BSA’s recent Distributor Survey, Breen told attendees at the 2015 Annual Convention that the results reveal 2014 aggregate bearing sales volume for participating distributors was $2,840,000,000. This represents an increase of 3.3% over the 2013 volume of $2,750,000,000. In addition, participant estimates indicate that 2015 will continue this trend with a gain of 8% over 2014.
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Oi gets offer for capital injection with TIM deal
2015-10-26 13:37:00| Telecompaper Headlines
(Telecompaper) The LetterOne (L1) fund, owned by Russian billionaire Mikhail Fridman, has made an offer to provide USD 4 billion to Brazilian operator Oi to help the company participate in market consolidation. The transaction is conditional on Oi agreeing a merger with TIM Brasil, the operator controlled by Telecom Italia. Oi confirmed the offer received by its shareholder BTG Pactual, which is advising Oi on restructuring and financing with an eye on pursuing consolidation. Oi said it will carefully study the offer with its advisers.
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