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Etisalat offers EUR 4.5 bln for Maroc Telecom stake
2013-07-23 09:31:00| Telecompaper Headlines
(Telecompaper) French conglomerate Vivendi and UAE-based operator Etisalat have entered into exclusive negotiations to finalise an agreement for the sale of Vivendi's 53 percent shareholding in Maroc Telecom. Etisalat's offer values the controlling stake at MAD 92.6 per share, resulting in proceeds for Vivendi of EUR 4.2 billion in cash, including the 2012 dividend of EUR 310 million. Including Maroc Telecom's net debt, the enterprise value for Vivendi's stake is EUR 4.5 billion, equal to 6.2x EBITDA. Vivendi said a final agreement still depends on consultations with works councils and an agreement between Etisalat and the Moroccan government, which is the other major shareholder in Maroc Telecom. Negotiations are also underway with Moroccan institutional investors that may invest in the operator. Pending regulatory approval, the companies aim to close the deal by the end of this year.
Tags: offers
eur
telecom
maroc
EUR 10 bn investment plan and 50,000 new jobs by the end of 2013
2013-07-11 22:05:54| Agriculture - Topix.net
Government identified through the National Investment Plan launched on Thursday five strategic areas on which it intends to focus: energy, mineral resources, agriculture, industry and infrastructure.
EUR: Marketing, innovation director Europe quits Diageo
2013-07-10 16:35:00| Daily beverage news and comment - from just-drinks.com
Diageo has confirmed a change of marketing & innovation director for Western Europe.
Tags: eur
marketing
director
europe
Movistar launches first Firefox phone for EUR 69
2013-07-01 14:25:00| Telecompaper Headlines
(Telecompaper) Telefonica announced it will launch the first smartphone running the Firefox OS from Mozilla on 02 July. Movistar will offer the ZTE Open phone in Spain for EUR 69, including EUR 30 credit for prepaid customers and 4 GB microSD card. Telefonica said it plans to offer more Firefox devices later this year and will expand distribution of the ZTE Open in the coming weeks to other countries, such as Colombia and Venezuela. The ZTE phone features a 3.5-inch, HVGA TFT touchscreen display, 256MB RAM, 512MB internal storage and a 3.2MP camera. Aimed at first-time smartphone users, the phone supports messaging, e-mail, calendar, FM radio, camera with built-in style filters, location-based services from Nokia HERE maps and browsing via the Firefox Web browser. The Firefox OS comes with a new search capability that allows the device to adapt to the user's search enquiries. Swipe to the right from the home screen and enter a search term and the phone will customize itself to that search. For example, search for an artist and get results to buy songs, watch music videos, buy concert tickets and listen to them instantly without having to download and install any apps.
Tags: phone
eur
firefox
launches
Nokia to pay EUR 1.7 bln for rest of Nokia Siemens Networks
2013-07-01 07:37:00| Telecompaper Headlines
(Telecompaper) Nokia has entered into a definitive agreement to pay EUR 1.7 billion to buy Siemens' 50 percent of mobile network equipment joint venture Nokia Siemens Networks. The transaction includes EUR 500 million borrowed from Siemens, to be paid back a year after completion. The operation has been approved by the two companies' boards and is expected to close before the end of September. Nokia plans to keep existing management and will announce the subsidiary's new name at closing. Siemens will continue to concentrate on its core areas, which no longer include telecom.
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