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Comcast to buy rest of NBCUniversal for USD 16.7 bln
2013-02-13 09:06:00| Telecompaper Headlines
(Telecompaper) US cable operator Comcast has agreed to buy the rest of NBCUniversal from GE for USD 16.7 billion. This includes the remaining 49 percent in the broadcast and production company and properties used by NBCUniversal at 30 Rockefeller Plaza and CNBC's headquarters in New Jersey for USD 1.4 billion. Comcast acquired an initial 51 percent in NBCUniversal two years ago, when it also agreed options to take full control from GE. The latest takeover will be funded with USD 11.4 billion of cash on hand, USD 4.0 billion of senior unsecured notes to be issued to GE, USD 2.0 billion of borrowings under bank credit facilities and USD 725 million of preferred stock to be issued to GE. The takeover is expected to close by the end of the first quarter.
Liberty Global to buy Virgin Media for USD 23 bln
2013-02-06 08:51:00| Telecompaper Headlines
(Telecompaper) Liberty Global has agreed to acquire UK cable operator Virgin Media for USD 23.3 billion. Virgin Media shareholders will receive USD 17.50 in cash, 0.2582 Liberty Global Series A shares and 0.1928 Liberty Global Series C shares for each Virgin Media share they hold. This implies a price of USD 47.87 per Virgin Media share, a 24 percent premium on the closing price the day before merger talks were first announced. Liberty Global said it expects the takeover to result in operating and capex synergies of around USD 180 million in the first full year of integration. Virgin Media is also expected to help the company's strategy in mobile and business services, where it has been looking to grow. Liberty plans to finance the cash portion of the takeover, worth about USD 5.9 billion, with its own cash and that of Virgin Media, as well as an increase in Virgin's debt by around USD 3.0 billion. The shares component will give Virgin shareholders 36 percent of Liberty Global's capital and 26 percent of the voting rights. Liberty Global also plans to move its holding company from the US to the UK after the takeover, and said it could later pursue a stock listing in Europe. The deal still requires shareholder approval, planned for the second quarter, and Liberty's largest shareholder, John Malone with 35 percent, has pledged to support the deal.
Oracle to buy Acme Packet for USD 1.7 bln
2013-02-04 15:37:00| Telecompaper Headlines
(Telecompaper) Oracle has agreed to buy SBC specialist Acme Packet for USD 1.7 billion. The company will pay USD 29.25 per share for Acme Packet, representing a fully diluted equity value of USD 2.1 billion. Net of Acme packet's cash, the price is USD 1.7 billion. Acme Packet's session border controls enable delivery of voice, data and unified communications services and applications over IP networks. The company's products are deployed by more than 1,900 service providers and enterprises globally, including 89 of the world's top 100 operators. Oracle said the takeover will boost its portfolio for communications providers looking to migrate to all-IP networks. The takeover is expected to close in the first half of 2013, subject to Acme Packet shareholder approval and regulatory clearance.
Facebook Q4 revenues rise 40% to USD 1.59 billion
2013-01-31 08:31:00| Telecompaper Headlines
(Telecompaper) Facebook reported 40 percent growth in revenue to USD 1.59 billion in the fourth quarter, compared with USD 1.13 billion in the year-earlier period. Advertising revenues rose by 41 percent to USD 1.33 billion, or 84 percent of turnover. The remaining revenue came from payments and other fees, essentially flat year-on-year. Facebook increased its costs and expenses 82 percent to USD 1.06 billion in the fourth quarter, with capital expenditure at USD 198 million. Net income from operations slipped to USD 523 million from USD 548 million in the fourth quarter of 2011. Facebook's net profit fell to USD 64 million from USD 302 million, and EPS to USD 0.03 from USD 0.14. Founder and CEO Mark Zuckerberg said, "In 2012, we connected over a billion people and became a mobile company. We enter 2013 with good momentum and will continue to invest to achieve our mission and become a stronger, more valuable company.
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Lenovo mobile sales jump 77% to USD 1 bln
2013-01-30 11:37:00| Telecompaper Headlines
(Telecompaper) Lenovo reported sales for its fiscal third quarter to December up 12 percent from a year earlier to USD 9.4 billion. Net profit rose 34 percent to USD 205 million, and operating profit was up 26 percent to USD 243 million. The company finished the period with net cash of USD 4.2 billion. Lenovo said its Mobile Internet and Digital Home (MIDH) revenues, which includes smartphones, tablets and smart TVs, accounted for a record 11 percent of company revenue in the quarter, with sales up 77 percent year-over-year to USD 998 million. For the first time, its smartphone business in China was profitable, and Lenovo estimates it had a 12.3 percent share of the Chinese market. The company's global PC shipments outpaced the market contraction and grew 7.9 percent, giving it a 15.9 percent market share. Lenovo recently realigned its product development and supply chain organizations to create two new groups: the Lenovo Business Group, which will focus on mainstream PCs, mobile internet and digital home products; and the Think Business Group, which will focus on Think-branded products targeting high-end consumers and enterprises.
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