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Orascom Telecom rejects Altimo buy-out offer
2013-05-15 08:54:00| Telecompaper Headlines
(Telecompaper) Egypt's Orascom Telecom announced that its board of directors has recommended shareholders reject an offer from Russian investor Altimo to buy out the mobile company for USD 0.70 a share. Independent financial adviser HC Securities and Investments put the fair value of Orascom's shares higher, at USD 0.86 per share, the company said. Altimo made the offer which values all of Orascom at USD 3.7 billion in early April. Altimo already has a 47.85 percent voting interest in Orascom's controlling shareholder Vimpelcom. Representatives of Vimpelcom, which owns 52.92 percent of Orascom Telecom, did not vote on the board's opinion of the bid. Vimpelcom said separately that it does not plan to tender its Orascom shares to Altimo under the current terms of the offer.
Tags: offer
telecom
rejects
buyout
West Michigan lawmaker: State rejects dune road request
2013-05-12 22:06:08| Waste Management - Topix.net
A western Michigan lawmaker says the state Department of Environmental Quality has rejected a proposal to build a 1,200-foot private driveway across a strip of government-owned Lake Michigan dune habitat.
FDA rejects 2 HIV drugs from Gilead Sciences
2013-04-29 19:18:37| Biotech - Topix.net
Gilead Sciences Inc. said Monday that the Food and Drug Administration rejected two marketing applications for HIV treatments, citing quality control problems at the company's manufacturing facilities.
Treasury rejects cash salary hikes for GM execs
2013-04-27 15:57:57| Automakers - Topix.net
Top executives at General Motors Co. and Ally Financial Inc., won't get cash salary pay raises this year, as the Treasury Department's pay czar took a tough line Friday.
Tags: cash
salary
treasury
rejects
Senate panel rejects bill requiring dispersants be considered last resort option
2013-04-23 22:29:24| Waste Management - Topix.net
A dispersant plane was photographed April 27 passing an oil skimmer working to clean the Gulf of Mexico oil leak.
Tags: considered
option
bill
panel
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