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Veresen buys stake in U.S. natural gas pipeline system for US$1.425 billion
2014-09-23 04:29:59| Oil & Gas - Topix.net
Veresen Inc. is spending more than US$1.4 billion to buy a stake in a U.S. pipeline, a deal it says will bolster the company's plans to ship liquefied natural gas from a proposed terminal on the Oregon coast. The Calgary-based company on Monday announced a deal to buy a 50 per cent stake in the Ruby pipeline system from Global Infrastructure Partners.
Tags: system
natural
gas
billion
AT&T, Chernin venture buys control of Fullscreen
2014-09-22 16:56:00| Telecompaper Headlines
(Telecompaper) AT&T has partnered with the Chernin Group to buy a majority stake in the online media company Fullscreen. As part of the deal, Fullscreen CEO and founder George Strompolos will continue as CEO and maintain a material stake in the company. The acquisition will be by Otter Media, a joint venture set up by AT&T and The Chernin Group to invest in and launch over-the-top video services. Fullscreen, founded in January 2011, is a major YouTube partner, working with more than 50,000 content creators to engage subscribers and monetise online video content. AT&T said the deal will help strengthen its ability to reach young people. The acquisition is expected to close within the next month, subject to regulatory approval. WPP, which had invested in Fullscreen in a round of Series A funding led by the Chernin Group in 2013, also will continue as a strategic shareholder in the company. Chernin is already an investor in Fullscreen and founder Peter Chernin sits on its board.
Tags: control
att
venture
buys
Seamless buys mobile prepaid airtime line of Micro Mobility
2014-09-22 08:15:00| Telecompaper Headlines
(Telecompaper) Payment service provider Seamless has acquired Ingram Micro Mobility's mobile prepaid airtime line of business in Sweden and Denmark. The deal, which is still subject to certain conditions, should become effective from early 2015. The new line of business will become a strategic extension of the existing eProduct distribution of Seamless and add Denmark to the company's markets. The acquisition will more than double the revenue of Seamless. The parties said they will collaborate for a smooth transition of existing mobile prepaid airtime customers in Sweden and Denmark. No financial details were provided.
Tags: line
mobile
micro
mobility
Huawei buys IoT expertise with Neul deal
2014-09-22 02:00:00| Total Telecom industry news
Chinese vendor pays $25 million for U.K.-based R&D facility.
Tags: deal
expertise
buys
huawei
Telefonica buys GVT for EUR 7.2 bln in cash plus shares
2014-09-19 09:43:00| Telecompaper Headlines
(Telecompaper) Telefonica has confirmed its acquisition of Vivendi's Brazilian broadband operator GVT in a deal worth around EUR 7.2 billion in cash and shares. A final agreement was signed on 19 September after Vivendi had agreed to enter into exclusive negotiations with Telefonica on 28 August, snubbing a EUR 7 billion offer from Telecom Italia. The agreement, which was reached comfortably before the end of the three-month negotiation period, includes the payment of EUR 4.66 billion in cash, from which a bank debt of around EUR 450 million and adjustments in working capital must be deducted. In addition, Vivendi will receive 7.4 percent of Telefonica Brasil shares, at a stock market value of EUR 2.02 billion as of 18 September, and 5.7 percent of Telecom Italia shares at a stock market value of EUR 1.01 billion as of 18 September. Vivendi confirmed in a statement that it will also be liable for tax estimated at around EUR 500 million. It said the transaction should close before the end of the first-half of 2015, subject to regulatory approval from Anatel and Cade, Brazil's telecoms and competition authorities.
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