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Telefonica Colombia confirms EUR 1.8 bln capital hike, pays EUR 472 mln fine
2017-08-30 11:40:00| Telecompaper Headlines
(Telecompaper) Telefonica announced that it has come to an agreement with the Colombian government to increase the capital of its subsidiary Colombia Telecomunicaciones (Coltel) by around EUR 1.37 billion to pay debt owed to asset management fund Parapat. The company said its capital injection into ColTel will amount to around EUR 925 million and will fully settle its obligations with Parapat, the consortium that owns the telecommunications assets and manages the pension funds of the former companies that resulted in Coltel. Telefonica and the Colombian government also announced a further EUR 472 million capital increase in proportion to their respective stakes to comply with a Colombian arbitration fine for breaching a government contract for mobile services.
Vocus ends takeover talks with KKR, as FY profit hit by AUD 1.5 bln impairment
2017-08-21 09:23:00| Telecompaper Headlines
(Telecompaper) All takeover discussions between Australian operator Vocus and KKR have ceased, with the US investment house saying it is unable to come out with terms acceptable to the Vocus board. KKR made a bid in June for the company at AUD 3.50 per share. Vocus then received another takeover offer from private equity group Affinity, in July. Giving its preference to KKR, Vocus provided the investment firm with the opportunity to conduct due diligence on a non-exclusive basis but the parties were unable to reach a mutually acceptable deal.
Apple sets USD 1 bln budget for original content - report
2017-08-16 14:57:00| Telecompaper Headlines
(Telecompaper) The figure of USD 1 billion is equal to around half what HBO spent on content last year. Apple Senior Vice President Eddy Cue is hoping to make high-quality video similar to HBO shows such as Game of Thrones, the report said.
Tags: content
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Airtel sells 3.6% stake in Infratel tower unit for INR 26 bln
2017-08-09 07:55:00| Telecompaper Headlines
(Telecompaper) Indian operator Bharti Airtel has divested a 3.6 percent stake in its towers arm Bharti Infratel for INR 26 billion. Bharti Airtel sold 67.53 million shares in its subsidiary Bharti Infratel at a price of INR 380.6 per share, representing a discount of around 4 percent to the previous day's closing price. Following this transaction, Bharti Airtel owns a 58 percent stake in Bharti Infratel.
Alphabet profit falls in Q2 after USD 2.7 bln fine from EU
2017-07-24 23:15:00| Telecompaper Headlines
(Telecompaper) Alphabet, the parent company of Google, reported a drop in second-quarter net profit, hurt by the competition fine of USD 2.7 billion imposed on the company by the European Commission. In a rare occurrence for the company since it went public, net profit fell to USD 3.524 billion or USD 5.01 per share from USD 4.877 billion or USD 7.00 per share a year earlier. Excluding the fine, net profit was still up, at USD 6.260 billion, according to adjusted figures presented by Alphabet.
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