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Telefonica announces EUR 3 bln share issue for GVT purchase
2015-03-26 08:53:00| Telecompaper Headlines
(Telecompaper) Telefonica has announced a capital hike of around EUR 3.05 billion to part fund its EUR 7.2 billion purchase of Brazilian broadband operator GVT. In a statement to Spain's market regulator CNMV, the Spanish operator confirmed it will sell some 281 million shares for EUR 10.84 each, with Telefonica shareholders given preferential rights to subscribe to the new shares. The company earlier confirmed it had finally received the approval of Brazil's antitrust authority, Cade, to acquire GVT from French media group Vivendi. Telefonica last week agreed to waive its voting rights in Telecom Italia in an unrestricted manner to comply with the regulator's demands. Cade also approved the break up of the Telefonica-dominated Telco SpA investor group that has controlled Telecom Italia for years. The demerger of the Telco pact was confirmed in a Telco board meeting held in June last year and the following month Telefonica sold bonds exchangeable into stocks to cut its stake by about a third. Subsequently, the Spanish company offered Vivendi a right to around 8 percent of Telecom Italia as part of its bid to buy GVT. As a result, Vivendi is expected to be confirmed as Telecom Italia's largest single shareholder at a 20 May meeting.
Tags: share
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Optimal Payments to buy Skrill for EUR 1.1 bln
2015-03-23 13:42:00| Telecompaper Headlines
(Telecompaper) UK-based online and mobile payment services provider Optimal Payments announced an agreement to acquire Skrill, a provider of prepaid services in Europe, for EUR 1.1 billion including debt. Skril's holding company Sentinel is owned by the private equity funds CVC, Investcorp and other shareholders. They will receive EUR 720 million cash and a 7.9 percent stake in the merged group. The deal values Skrill's equity at 9.4 times EBITDA for the year to September, including expected synergies from the merger of EUR 40 million per year. Skril provides a range of digital wallet services, including the paysafecard for online purchases, while Optimal Payments operates the online money transfer service Netelller. Optimal Payments has received backing from its shareholders to raise GBP 451 million in a rights issue. A new credit facillity of EUR 500 million will also support the acquisition plans. Subject to shareholder approval and the rights issue, the acquisition is expected to close in Q3.
Tags: buy
eur
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optimal
Telecom Italia posts EUR 1.35 bln profit, first since 2010
2015-03-20 09:18:00| Telecompaper Headlines
(Telecompaper) Telecom Italia reported a net income of EUR 1.35 billion in 2014, up from a EUR 674 million loss the previous year, in what was its first profit since 2010. All other financial results for 2014 were published last month to coincide with the launch of its 2015-2017 business plan to modernise its fixed and mobile broadband networks. The company's full-year revenues were down 7.8 percent to EUR 21.57 billion, a slight improvement on the previous year's fall of 9.1 percent, with EBITDA falling by 7.9 percent to EUR 8.79 billion. At the board meeting ratifying its full-year results, the company also announced that it would be launching a bond of up to EUR 2 billion bond on 20 March, with the final conversion price yet to be confirmed. The bond settlement is expected to take place on 26 March and the proceeds will be used to refinance Telecom Italia's existing net debt of EUR 26.7 billion. Looking ahead, the company said traditional services such as access and voice would continue to fall, but would be partly offset by revenues from innovative services due to the increasing demand for connectivity and digital services. Telecom Italia's CEO Marco Patuano said: "The positive trend of our business in the early months of 2015 is in line with goals we previously set and shows the company is on the right path."
Turkey to raise minimum EUR 2.3 bln in LTE auction
2015-03-18 14:34:00| Telecompaper Headlines
(Telecompaper) Turkey's telecommunications regulator announced a minimum reserve price of EUR 2.3 billion for 4G spectrum licences. The Information and Communication Technologies Authority will tender a total 390 MHz in the 800, 900, 1,800, 2,100 and 2,600 MHz bands in the auction. The successful bidders may pay for the licences in a single payment or in four installments every six months, plus interest, according to a decree from the cabinet published in the Official Gazette. Transport and Communication Minister Lutfi Elvan said earlier in March that the aim is for at least 90 percent of the population to have 4G coverage within six years, reported the Daily Hurriyet. The licence tender should be completed by the end of May, and the 4G services should start by the end of this year. In addition to the three existing operators Turkcell, Vodafone and Avea, the country aims to attract a fourth network operator in the auction. The fourth operator will be able to bid only for the 2,600 MHz band, but will be free from other operating obligations applied to the existing operators, the minister said.
Tags: eur
minimum
auction
turkey
ITV buys Talpa for EUR 500 mln cash, double if targets met
2015-03-12 09:20:00| Telecompaper Headlines
(Telecompaper) UK broadcaster ITV has agreed to acquire Dutch TV production company Talpa Media for approximately EUR 500 million in cash from Big Brother creator John de Mol. Talpa is behind such hit formats as The Voice, Utopia, I Love My Country and Dating in the Dark. Including future payments depending on performance, the maximum total consideration will be EUR 1.1 billion.
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