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Dow Chemical raises buyback program by $5 bln to $9.5 bln
2014-11-12 21:20:46| Chemicals - Topix.net
Dow Chemical Co said it would buy back shares worth $5 billion, bringing its total stock repurchase program to up to $9.5 billion. The company also increased its quarterly dividend to 42 cents per share from 37 cents.
Colt to acquire KVH for JPY 18.6 bln
2014-11-12 09:27:00| Telecompaper Headlines
(Telecompaper) European carrier Colt has agreed to buy Asian information delivery platform KVH for JPY 18.6 billion, or around EUR 130.0 million. The deal will be funded by existing Colt cash at hand and committed bank facilities. Colt said the deal will provide it with scale and complementary capability in key Asian cities, namely Tokyo, Singapore, Hong Kong and Seoul, and give a platform for the company to enter the APAC ICT services market, which is growing at around 12 percent per year. The transaction will also enhance Colt's competitive position in serving multi-national customers (MNCs) and so provide attractive opportunities for growth. Colt expects the acquisition to deliver annual cost and capex synergies of EUR 8.5 million by 2017 and contribute to earnings and cash flow from 2016. KVH is fully owned by FMR, FIL and their associates. FMR, FIL and certain of their associaties are also shareholders of Colt. The deal therefore constitutes a related party transaction which is subject to the approval of independent shareholders. Colt will therefore hold an AGM on 16 December in order to seek approval.
AT&T to acquire Mexico's Iusacell for USD 2.5 bln
2014-11-08 05:18:00| Telecompaper Headlines
(Telecompaper) AT&T has reached an agreement with Mexican holding Grupo Salinas to acquire mobile operator Iusacell for USD 2.5 billion, inclusive of Iusacell debt. Under the terms of the agreement, the US telco will acquire all of Iusacell's mobile properties, including licences, network assets, retail stores and approximately 8.6 million mobile subscribers. The acquisition will be completed after Grupo Salinas, the current owner of 50 percent of Iusacell, closes its announced purchase of the other 50 percent of Iusacell, previously owned by Televisa. Iusacell offers mobile service under both the Iusacell and Unefon brands with a network that covers about 70 percent of Mexico's population. AT&T said that it plans to expand Iusacell's network infrastructure to cover millions of additional consumers and businesses in Mexico. AT&T chairman and CEO Randall Stephenson said that the acquisition of Iusacell is a direct result of the telecoms reforms implemented by President Pena Nieto to encourage more competition and more investment in the local telecoms sector.
Nvidia Q3 revenues reach record USD 1.23 bln
2014-11-07 09:44:00| Telecompaper Headlines
(Telecompaper) Nvidia reported record revenues for its fiscal third quarter to 26 October, with the figure rising 16 percent from the year before to USD 1.23 billion. Record revenues were also reported for the year-to-date, up 15 percent to USD 3.43 billion. CEO Jen-Hsun Huang attributed the strong earnings to the company's focus on creating visual computing platforms for datacentre, mobile and PC. The gross margin went to 55.2 percent from 55.4 percent the year earlier while the net profit lifted 45 percent to USD 173 million. Nvidia intends to return USD 600 million to shareholders in fiscal 2016 through ongoing quarterly cash dividends and share repurchases. The company will pay its next quarterly cash dividend of USD 0.085 per share on 15 December. For the fourth quarter, the company is guiding for revenue of USD 1.20, plus or minus 2 percent, gross margin of 55.2 percent, plus or minus 50 basic points, and capex at USD 40-50 million.
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Xiaomi in talks to raise USD 1.5 bln in new funding - report
2014-11-07 09:29:00| Telecompaper Headlines
(Telecompaper) Xiaomi is in talks to raise USD 1.5 billion in new funding, the Financial Times reported, saying the capital would put the company's valuation at over USD 40 billion. The company is in talks with a number of investors including Russia's DST, but negotiations have not yet been finalised, sources familiar with the matter said. Xiaomi declined to comment on its fundraising plans.
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