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Tag: bln
Italy frees up EUR 2.2 bln for broadband expansion
2015-09-28 09:12:00| Telecompaper Headlines
(Telecompaper) Italy's Court of Auditors has finally freed up EUR 2.2 billion of public funds to begin work on the country's EUR 12 billion broadband expansion plan after the Council of Ministers passed the corresponding bill last month. The Court confirmed that priority would be given to southern rural zones (clusters C and D) that have been hitherto unable to attract private investment. However, only EUR 40 million of funds will be available next year, with EUR 350 million coming in 2017 and 2018, EUR 400 million in 2019, EUR 450 million in 2020 and 2021, and EUR 160 million in 2022. The announcement suggests the government has delayed its target of bringing high-speed broadband of 100 Mbps to 85 percent of Italy's population and 30 Mbps broadband to the rest of the country by two years, from 2020 to 2022.
Tags: eur
italy
expansion
broadband
Vocus, M2 Group to merge into company worth over AUD 3 bln
2015-09-28 08:57:00| Telecompaper Headlines
(Telecompaper) Australian and New Zealand wholesale IP transit and voice supplier Vocus and M2 Group have signed a merger agreement that will create the fourth-largest telecoms company in Australia by market value and the third biggest in New Zealand. The new company will be worth more than AUD 3 billion and have revenues of around AUD 1.8 billion. Vocus said it has offered 1.625 of its shares for each M2 share, implying an AUD 1.93 billion value for M2. The price represents a 25 percent premium to the closing price for M2 shares on 25 September. The deal, expected to generate up to AUD 40 million a year in savings, has been unanimously approved by each company's board ahead of a shareholder vote.
Tags: group
company
worth
merge
Chinese IoT market reaches USD 90 bln in 2014
2015-09-25 12:01:00| Telecompaper Headlines
(Telecompaper) China's Internet of Things (IoT) industry reached a value of CNY 580 billion (approximately USD 90 bln) in 2014, which represents a growth of 18.46 percent year-on-year, according to a report issued by Xinhua News Agency on an IoT expo in Wuxi City, east China's Jiangsu Province. The study also found that IoT technologies have continued to integrate with both traditional industries (agriculture and manufacturing) and emerging industries (new energy and new materials). The report further shows that the major challenges faced by the Chinese IoT market include its reliance on imports of sensor and chip technology, as well as issues in application, information and data security.
Tags: market
chinese
usd
reaches
Flipkart ends fundraising round with valuation at USD 15 bln
2015-09-25 09:01:00| Telecompaper Headlines
(Telecompaper) Indian e-commerce company Flipkart has closed its latest fundraising round, with valuation now at USD 15 billion, the Financial Times reported. The company, found by two former Amazon employees, said it recently raised USD 700 million from new and existing investors. Earlier this week, the company announced it had hired Dan Rawson, the former head of fulfilment for Amazon in North America, to manage its logistics and supply chain. Flipkart says it has around 50 million individual customers. In its bid to reach more, the company will put focus now on smaller towns and run vernacular language advertisements, using local celebrities.
Tags: round
usd
ends
valuation
Digicel valued at USD 5 bln in IPO
2015-09-23 08:39:00| Telecompaper Headlines
(Telecompaper) Caribbean mobile operator Digicel has announced in a filing to the SEC that it expects its imminent initial public offering to be priced at between USD 13 and USD 16 per share, valuing the company at just over USD 5 billion at the top end of the range. The company is selling 124.1 million class A shares in the US IPO, which could raise as much as USD 2 billion. Digicel's owner, Irish billionaire Denis O'Brien, will continue to own all of the group's Class B shares and control around 94 percent of the voting power after the IPO. Digicel added in its filing that it plans to list its shares on the New York Stock Exchange under the symbol "DCEL".
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