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Alibaba buys 18% stake in Weibo for USD 586 mln
2013-04-29 15:38:00| Telecompaper Headlines
(Telecompaper) Chinese e-commerce company Alibaba has acquired an 18 percent stake in Chinese microblogging service Weibo for USD 586 million. Alibaba bought the stake as part of a broader alliance with Weibo's owner Sina to develop new e-commerce and marketing services over the social network. Sina, which runs China's biggest web portal, will cooperate with Alibaba in the areas of user account connectivity, data exchange, online payment and online marketing, among other things, as well explore new business models for social commerce based on the interactions of the hundreds of millions of users on Weibo and Alibaba's e-commerce platforms. The strategic alliance is expected to generate USD 380 million in advertising and social commerce services revenues for Weibo over the next three years. Alibaba also receives an option to increase its stake in Weibo to 30 percent in future.
Verizon plans USD 100 bln bid for Verizon Wireless - report
2013-04-25 11:00:00| Telecompaper Headlines
(Telecompaper) Verizon has hired advisers to prepare a possible USD 100 billion cash and stock bid to take full control of Verizon Wireless from joint venture partner Vodafone, two people familiar with the matter told Reuters. Verizon, which already owns 55 percent of Verizon Wireless, has not yet put forward a proposal to Vodafone but it has hired both banking and legal advisers for a possible bid, the report said. Verizon hopes to start discussions with Vodafone soon for a friendly deal but is prepared to take a bid public if the British company does not engage in talks, one of the sources added. Verizon aims to raise around USD 50 billion of the purchase price through bank financing, with the remainder to be paid in its own shares. The US operator's board is expected to discuss details of the potential buy-out next week at a scheduled meeting. A Verizon spokesman declined to comment, apart from reiterating that the company would be a willing buyer of Vodafone's share in Verizon Wireless.
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Google revenue rises 31% to USD 13.97 bln in first quarter
2013-04-19 08:14:00| Telecompaper Headlines
(Telecompaper) Google reported USD 13.97 billion of consolidated revenue in the first quarter, up 31 percent on the first quarter of 2012. The group's Motorola Mobile subsidiary had USD 1.02 billion of revenues, or 7 percent of consolidated revenues, and reported a USD 271 million operating loss, for a -27 percent operating margin. Google's operating income increased to USD 3.48 billion, or 25 percent of revenue, compared to USD 3.39 billion, or 32 percent of revenue, a year earlier. Net income, including net income from discontinued operations, reached USD 3.35 billion in the first quarter, compared with USD 2.89 billion in the year-earlier period.
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Intelsat raises USD 472 million in IPO
2013-04-18 14:02:00| Telecompaper Headlines
(Telecompaper) Satellite operator Intelsat has raised USD 471.7 million in its initial public offering of shares, net of underwriting costs. The company sold 19.32 million common shares at USD 18 per share, below the indicated range of USD 21-25 per share, as well as 3 million convertible, non-voting preference shares at USD 50 each. The preference shares carry a dividend rate of 5.75 percent and will convert automatically to common shares on 01 May 2016. The underwriters have a 30-day option to purchase up to an additional 2.9 million common shares and 450,000 preferred shares. Intelsat's shares will be listed on the New York Stock Exchange. The company intends to use substantially all of the net proceeds from the IPO to reduce debt.
Avago to buy CyOptics for USD 400 mln
2013-04-12 08:44:00| Telecompaper Headlines
(Telecompaper) Avago Technologies has agreed to acquire CyOptics, a maker of Indium Phosphide (InP) optical chips and components for the data communications and telecommunications markets, for USD 400 million in cash. Avago said the deal will strengthen its fibre-optics product portfolio for emerging 40G and 100G enterprise and data centre applications, helped by CyOptics' single-mode InP laser, receiver and photonics integration capability. Avago's optical transceiver products primarily leverage VCSEL-based technology today. In addition, the acquisition of CyOptics will facilitate Avago's establishment of a complementary optical components business, to serve growing segments of the access, metro and long-haul markets, as well as enterprise and data centre segments. CyOptics revenue has more than tripled over the past three years and reached USD 210 million in 2012. Avago intends to fund the transaction with cash on-hand. The takeover is expected to close during Avago's third fiscal quarter of 2013.
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