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Millicom confirms target for USD 9 bln in revenue in 2017
2014-09-25 09:03:00| Telecompaper Headlines
(Telecompaper) Millicom has confirmed a target of over USD 9 billion in revenue in 2017, compared to USD 5.2 billion in 2013. driven by recent acquisitions and expansion in the cable TV and online segments. At its Capital Markets Day, the company highlighted its current 9 percent annual growth in revenues (in local currency), with its mobile business advancing 6 percent, cable rising by 16 percent and mobile financial services up 41 percent. The recently completed takeover of UNE in Colombia will also contribute to growth. In 2014 Millicom expects the contribution from UNE to reach USD 550 million of revenues, around USD 120 million in EBITDA (before integration costs) and capex of USD 120 million. Millicom confirmed its initial estimate of synergies of USD 600 million (including integration costs) from the takeover. More details on synergies will be announced early next year following the completion of the integration planning phase. Having completed the UNE deal, the company said it now plans a period of focusing on debt deleveraging.
Toshiba focuses on Southeast Asia with USD 1 bln investment
2014-09-24 09:24:00| Telecompaper Headlines
(Telecompaper) Toshiba wants to invest USD 1 billion in Southeast Asia over the next five years and double its current sales to USD 7 billion. CEO Hisao Tanaka made the announcement as part of the manufacturer's strategy to expand its business in the region. Tanaka said that Southeast Asia has long been a strategic manufacturing hub for Toshiba's major businesses, including semiconductors, hard disk drives and SSD in the Storage business, transmission and distribution equipment and industrial motors, and TVs and home appliances. Toshiba will shortly start operation of a new infrastructure business in Indonesia, part of a regional network it is putting in place, and is also promoting major initiatives in healthcare. The company company recently positioned healthcare as one of its three main pillars of business and is building a new medical equipment manufacturing plant in Malaysia, alongside the medical equipment sales company it established this June.
Tags: asia
investment
usd
toshiba
Alibaba IPO priced at top of range, raises over USD 21 bln
2014-09-19 09:28:00| Telecompaper Headlines
(Telecompaper) Alibaba Group has priced its initial public offering at USD 68 per share, at the top end of the USD 66-68 range it gave, the Financial Times reported. The pricing translates to proceeds of USD 21.8 billion, making its New York Stock Exchange listing one of the world's largest and breaking the record for a technology IPO. With the over-allotment option, the group could raise up to USD 25 billion, and pass the largest listing ever, currently held by the Agricultural Bank of China which raised USD 22 billion in 2010. Alibaba's two-week roadshow went from Hong Kong and Singapore to London, New York, San Francisco and Boston. People familiar with the discussions said the company had been keenly focused on how the stock would trade, even if it meant leaving some money on the table. The price gives Alibaba a market capitalisation of USD 168 billion.
Microsoft buys Minecraft maker for USD 2.5 billion
2014-09-15 16:08:00| Telecompaper Headlines
(Telecompaper) Microsoft has agreed to buy Mojang, the Swedish maker of the popular 'Minecraft' video game, for USD 2.5 billion. The companies expect to complete the takeover by the end of this year. Microsoft said Minecraft will remain available on a wide range of platforms, including PC, iOS, Android, Xbox and Playstation. Players are expected to benefit from an improved user experience thanks to investments by Microsoft in cloud and mobile technologies for the game.
Tags: microsoft
usd
billion
maker
Alibaba to raise up to USD 24.3 billion in IPO
2014-09-08 09:29:00| Telecompaper Headlines
(Telecompaper) Alibaba has amended its IPO filing in the US to raise up to USD 24.3 billion. The Chinese company will sell up to 368 million shares at USD 60-66 each, according to the latest filing with the SEC. In addition to 123.1 million new American Depositary Shares, its existing shareholders Yahoo, executive chairman Jack Ma and executive vice chairman Joe Tsai will together sell 197.0 million ADS. The underwriters will have the option to sell another 48.0 million ADS if demand warrants. Yahoo is expected to reduce its stake in Alibaba to 16.3 percent from 22.4, and Softbank's stake will dilute to 32.4 percent from 34.1. Ma, also the founder of the company, will still hold 7.8 percent of the company after the offering.
Tags: usd
raise
billion
alibaba
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