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Sky Italia subscribers down another 21,000 in 3Q 2014
2014-11-04 23:00:04| Digital TV News
Twenty-First Century Fox (NASDAQ: FOXA, FOX) has reported results for the three months ended September 30, 2014. Sky Deutschland grew net direct subscribers by 96,000 during the quarter, while SKY Italias subscriber base declined by 21,000.
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Telecom Italia unaware of any TIM Brasil offers
2014-11-03 08:47:00| Telecompaper Headlines
(Telecompaper) Telecom Italia CEO Marco Patuano has dismissed reports in the Brazilian press that the operator has received an offer to sell its Brazilian mobile unit TIM Brasil. According to the reports, America Movil, Telefonica and Grupo Oi have agreed to launch a USD 13 billion bid for Telecom Italia's controlling stake in TIM Brasil. However, Patuano said the company had not received any offer for TIM Brasil, which remained a strategic asset, as demonstrated by the EUR 1 billion spent in a recent 4G auction. "We have a major investment programme in place and have just participated in the auction for 4G services," he said. Telecom Italia chairman Giuseppe Recchi also said that no takeover offers had been received for TIM Brasil. Both Recchi and Patuano have repeatedly stated that Brazil remains a strategic market, but that they would consider selling TIM if the price is right. Telefonica's Brazil unit, Telefonica Brasil SA, also confirmed in a statement issued to the Brazilian securities regulator that it was not involved in any talks related to a joint bid for TIM Brasil, while Brazilian operator Oi said it had engaged BTG Pactual to act as its agent to come up with a bid for TIM Brasil but that no understanding or agreement had yet been reached.
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Telecom Italia denies latest Brazil asset sale rumour
2014-10-31 01:00:00| Total Telecom industry news
Brazilian press report claims America Movil, Telefonica and Oi will offer 10 billion for TIM Brasil.
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Vimpelcom fails to reach deal on Wind, 3 Italia merger
2014-10-28 09:38:00| Telecompaper Headlines
(Telecompaper) The possibility of a merger between Wind and 3 Italia, the Italian mobile phone units of Vimpelcom and Hutchison Whampoa, has been called off by Vimpelcom after the companies failed to reach an agreement. Without identifying the potential partner, Vimpelcom confirmed in a statement that it had "held discussions to explore the potential value which would accrue to shareholders through a 50-50 joint venture in Italy," going on to add that "no conclusion to these discussions was reached." The companies have been holding on-off talks since December, with Wind's debt of around EUR 9.5 billion representing the main a hurdle to a deal, but the debt refinancing plan implemented by Vimpelcom in April gave fresh impetus to a possible merger, with Italian press reports stating that Goldman Sachs and Deutsche Bank had been working on behalf of 3 Italia and Wind respectively to iron out any remaining problems. In its statement Vimpelcom added that it will continue to "explore value-adding transactions."
Telecom Italia sells 17% of Argentina stake
2014-10-27 08:54:00| Telecompaper Headlines
(Telecompaper) Telecom Italia has agreed to sell only a part of its stake in Telecom Argentina to US-backed investment fund Fintech, with the rest to follow once the deal secures regulatory approval from Argentine authorities. The Italian operator first announced an agreement to sell its controlling stake in Telecom Argentina's holding company Sofora Telecomunicaciones to Fintech for USD 960 million back in November 2013. However, Fintech's 40 percent stake in Argentine cable TV company Cablevision has proved a stumbling block due to local regulations limiting telecoms and media cross holdings. As a result, Telecom Italia has now announced an amended agreement to sell a 17 percent minority interest in Sofora to Fintech by end-October for USD 215.7 million. The sale of the remaining 51 percent controlling stake in Sofora will go through once the Argentine telecoms regulator SeCom gives the green light, which "is expected to occur within the next two and one-half years", according to Telecom Italia. In a statement, Telecom Italia confirmed that if the sale of its 51 percent of Sofora to Fintech is not completed within two and a half years, it could elect to terminate the deal or seek a third party buyer under a guarantee scheme with Fintech that ensures it will receive at least the same amount (USD 630.6 million).
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