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Altice IPO raises EUR 1.3 billion
2014-01-31 09:14:00| Telecompaper Headlines
(Telecompaper) Cable operator Altice has priced its initial public offering at EUR 28.25 per share, the mid-point of the earlier indicated range, giving the group a market capitalisation of EUR 5.7 billion. The company is selling 26.5 million new shares to raise around EUR 750 million, while existing shareholder Next, the holding company of founder and chairman Patrick Drahi, will sell shares worth around EUR 555 million. The IPO will give the company a free float of 22.8 percent of outstanding shares, or 26.2 percent if the over-allotment option in the offering is exercised. The shares start trading in Amsterdam on 31 January.
Liberty Global to acquire Ziggo for EUR 10 bln
2014-01-27 09:02:00| Telecompaper Headlines
(Telecompaper) Liberty Global has agreed to buy Dutch cable operator Ziggo for EUR 10 billion in cash and shares. The merger of Ziggo with Liberty's Dutch subsidiary UPC will create the Netherlands' largest cable operator, with a network passing over 90 percent of homes in the Netherlands. Liberty acquired a nearly 30 percent stake in Ziggo last year, and the two confirmed in December talks on a takeover. The offer values Ziggo at EUR 34.53 per share, a premium of 22 percent compared to its price in mid-October when talks first emerged of a possible deal with Liberty. Liberty is offering EUR 11.0 cash, 0.2282 Liberty Global Class A ordinary shares and 0.5630 Liberty Global Class C ordinary shares for each Ziggo share. Liberty also announced plans for a dividend of one Class C share for every other share held by its existing shareholders, to be paid in early March.
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GEA Group Aktiengesellschaft : Asian Demand For Dairy Products Affords GEA Another EUR 120M Of Large Orders In Q4 (Jan 09, 2014)
2014-01-17 06:30:55| dairynetwork News Articles
In Q4 2013 the mechanical engineering group GEA was awarded large dairy processing orders worth more thanEUR 120 millionin total. The new projects will comprise a wide range of process technology from GEA and will benefit from GEA's ability to leverage its expertise as a leading system provider to the food industry
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jan
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French data protection authority fines Google EUR 150,000
2014-01-09 07:31:00| Telecompaper Headlines
(Telecompaper) French data protection agency CNIL has fined Google EUR 150,000 upon considering that the privacy policy implemented by the company since 1 March 2012 does not comply with the country's data protection act. CNIL also has ordered Google to publish a statement on the decision at the Google.fr homepage by 11 January. In its decision, CNIL's sanctions committee said that the data processed by the company about the users of its services in France must be qualified as personal data. It also judged that French law applies to the processing of personal data relating to internet users established in France, contrary to the company's claim. Its conclusions are similar to those made by the Dutch and Spanish data protection authorities in November and December 2013 on the basis of their respective national laws.
Altice to raise EUR 750 mln in Amsterdam IPO
2014-01-07 09:14:00| Telecompaper Headlines
(Telecompaper) European cable operator Altice has announced plans to list its shares on the stock market in Amsterdam. The company intends to list around a quarter of its shares, raising EUR 750 million for reducing debt. In addition to issuing new shares, the IPO will include the sale of shares by founder and executive chairman Patrick Drahi and other members of management. Altice controls the Israeli cable operator Hot, as well as Numericable in Belgium and Cabovisao in Portugal. It also recently acquired a large stake in Numericable France, during the latter's IPO. The company reported revenues of EUR 2.40 billion for the first nine months of 2013, up 1.1 percent from a year earlier, and EBITDA grew to EUR 1.02 billion from EUR 959 million. Cash flow, measured as EBITDA minus capex, was EUR 563 million. Altice counted 3 million cable customers and another 4.6 million mobile subscribers at the end of September, including its pending acquisition of Tricom and Orange's activities in Dominican Republic.
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