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Dogan offers USD 742 mln for Digiturk
2013-09-03 08:51:00| Telecompaper Headlines
(Telecompaper) Turkey's Dogan Holding made a USD 742 million non-binding offer for a 53 percent stake in Turkish pay-television operator Digiturk, writes The Financial Times. The offer, which values Digiturk at USD 1.4 billion, is higher than Turk Telekom's July bid of USD 530 million for the 53 percent stake in the television operator. Dogan already owns D-Smart, Turkey's second-biggest pay television operator. The remaining 47 percent of Digiturk is owned by US private equity group Providence.
Vodafone agrees Verizon Wireless sale for USD 130 bln
2013-09-03 08:43:00| Telecompaper Headlines
(Telecompaper) Vodafone has reached an agreement to sell its 45 percent stake in Verizon Wireless to its US partner Verizon Communications, giving the latter 100 percent control of the mobile operator. Verizon will pay a total USD 130 billion, including USD 58.9 billion in cash, USD 60.2 billion in Verizon shares, USD 5.0 billion in the form of Verizon loan notes, Verizon's 23 percent stake in Vodafone Italia (valued at USD 3.5 billion), and Verizon's assumption of USD 2.5 billion in Vodafone debt related to the US group. Vodafone plans to return 71 percent of the proceeds to its shareholders, while GBP 6 billion will be go to a new three-year investment programme called Project Spring. The latter will see the group accelerate its 4G roll-out to 90 percent of its five main European markets by 2017, enhance 3G coverage and capacity in mature and emerging markets, extend its fixed broadband services based on fibre and VDSL, upgrade distribution outlets, improve the portfolio of enterprise services, speed up the deployment of mobile payment services and develop new systems to improve customer experience and simplify operations. The shareholder pay-out will include a mix of the Verizon shares and cash, worth in total 112 pence per share. In addition Vodafone pledged to increase its 2014 dividend by 8 percent to 11 pence per share. After the divestment of the Verizon Wireless stake, shareholder pay-out and proposed Kabel Deutschland takeover, the company's balance sheet will remain strong, with net debt at 1.0 times EBITDA.
Tags: sale
wireless
usd
agrees
Vodafone values Verizon Wireless stake at USD 130 bln
2013-09-02 08:37:00| Telecompaper Headlines
(Telecompaper) Vodafone has confirmed the price tag for its 45 percent stake in Verizon Wireless, at USD 130 billion. Responding to press speculation that a deal to sell the stake to Verizon Communications is imminent, the company said in a statement that the payment would be a mixture of Verizon shares and cash. People familiar with the matter told the Wall Street Journal that a deal could be announced as early as 02 September. Vodafone would pay about USD 5 billion in tax on the sale, while also receive Verizon's stake in Vodafone Italia, which is valued at about USD 5 billion as part of the payment, the Financial Times reported. The remaining USD 120 billion would be split equally between cash and equity in Verizon, according to the paper's sources.
Tags: values
wireless
usd
vodafone
Court approves USD 20 mln Facebook advertising settlement
2013-08-27 09:59:00| Telecompaper Headlines
(Telecompaper) Facebook has secured a San Francisco court's final approval for its USD 20 million settlement of a lawsuit over targeted advertising, despite critics seeing the deal as falling short in protecting childrens' privacy, Reuters reports. The BBC writes that as a result of the settlement, some 614,000 Facebook users whose personal details appeared in ads on the site without their permission will receive a payout of USD 15 each. Child rights groups argued that minors' content should be shared with advertisers. Under the deal Facebook will pay USD 20 million to the plaintiffs and pledged to give users more control over the way in which their content is shared.
Tags: advertising
court
usd
settlement
Ethio Telecom signs USD 800 mln expansion deal with ZTE
2013-08-19 13:00:00| Telecompaper Headlines
(Telecompaper) Ethio Telecom has signed an USD 800 million agreement with China's ZTE to expand its telecommunications network, AFP reports. CEO Andualem Admassie told journalists that the expansion project was vital to attain Ethio Telecom's objective of increasing coverage across the country and to upgrade its existing. The agreement is part of a USD 1.6 billion expansion project shared with China's Huawei. The two equipment vendors have split the cost of the scheme. The expansion project aims to increase mobile phone and 3G Internet access throughout the country and to introduce 4G broadband Internet in the capital Addis Ababa. Ethio Telecom, the country's monopoly phone and internet provider, aims to increase mobile coverage to 80 percent of Ethiopia. Andualem said the expansion is part of Ethiopia's "growth and transformation plan," an economic blueprint that aims to help Ethiopia reach middle-income status by 2025. Less than one percent of Ethiopia's 85 million people have access to the mobile internet and 23 percent subscribe to mobile phones, according to the ITU.
Tags: deal
usd
signs
expansion
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