France’s Numericable is reported to have announced plans for an initial public offering valuing the cable company at some €5.57 billion ($7.69 billion).
According to a report from Dow Jones Newswires, the operator plans to raise around €652.5 million in new capital, including €250 million from a capital increase.
Meanwhile, private-equity owners Carlyle and Cinven are looking to sell another €402.2 million as part of the offering, which would give Numericable (Paris, France) an enterprise value of between €5.06 billion and €5.57 billion, including €2.75 billion in debt.
French telecoms incumbent Orange has reported a slump in earnings and revenues for the three months ending September, with regulation and competition weighing heavily on the operator in its economically challenged European heartlands.
The operator witnessed a 4% drop in revenues, to €10.16 billion ($14 billion), and saw restated earnings before interest, taxation, depreciation and amortization (EBITDA) fall by 7%, to €3.37 billion, in its third quarter.
Telecoms industry executives have rated interoperability as the key challenge they face in deploying superfast broadband networks, according to a recent survey conducted by Informa Telecoms & Media.
The market-research company surveyed a total of 237 so-called “broadband stakeholders” and said that 54% of respondents cited interoperability as one of the top three challenges they face, with 25% of operators viewing it as the main challenge.
The number of mobile phone connections in Spain increased for a fourth straight month in August, data published on Tuesday showed, marking a tentative recovery after two years of client losses.
Cash-strapped consumers in Spain, where one in four of the workforce is jobless, have been cutting mobile usage and switching to cheaper deals to save money as recession dragged on. Yet the economy is expected to have returned to growth in the second half of the year, prompting a gentle pick-up in consumer confidence.
The UK’s Vodafone has completed its €7.7 billion ($10.43 billion) takeover of Kabel Deutschland, according to a statement on the German cable company’s website.
The deal puts Vodafone (Newbury, UK) in control of 76.57% of Kabel Deutschland’s (Unterfoehring, Germany) shares and will aid its push into Germany’s high-speed broadband market and allow it to better compete against telecoms incumbent Deutsche Telekom (Bonn, Germany) on bundled packages that include fixed, broadband and mobile services.
Telecom equipment maker Alcatel-Lucent said on Tuesday it would cut 10,000 jobs worldwide, calling it the last chance to turn the company around from heavy losses.
It was the latest step in a plan to focus on high-growth areas ranging from 4G mobile to high-speed broadband, and to lower fixed costs by more than 15 percent, saving a total of 1 billion euros ($1.36 billion).
The product of a 2006 Franco-U.S. merger aimed at creating a global giant, Alcatel-Lucent (Paris, France) told a European works council meeting it intends to axe nearly one in seven of its employees.
US cable company Time Warner Cable has agreed a $600 million takeover of DukeNet Communications, which operates a fiber-optic network across various Southeastern states.
DukeNet (Charlotte, NC, USA) is currently 50% owned by Duke Energy (Charlotte, NC, USA), the country’s largest electric power holding company, with the other 50% held by investment firm Alinda Capital (Greenwich, CT, USA).
The companies expect the transaction to close in the first quarter of 2014, subject to normal regulatory approvals.
US operator AT&T is responding to Google’s entry into the high-speed broadband market by promising to launch its own ultra-fast offer in Austin, Texas – where the internet giant plans to switch on a 1Gbps service in mid-2014.
The operator this week said it had begun work on the deployment of a network in Austin that would match Google’s (Mountain View, CA, USA) on connection speeds when finally developed.
European Union (EU) authorities have approved Vodafone’s €7.7 billion ($10.4 billion) takeover of Kabel Deutschland, clearing the way for a deal aimed at creating a player that can stand up to incumbent Deutsche Telekom in the market for so-called multi-play offerings.
“The Commission’s investigation confirmed that the activities of the merging parties were mainly complementary,” said the European Commission in a statement.
Three hedge funds who tendered shares enabling Vodafone to successfully bid for Germany's largest cable firm plan to sue for a better price for their outstanding holdings, three financial sources with knowledge of the matter said on Friday.
Vodafone (Newbury UK), which wants Kabel Deutschland (Unterfoehring, Germany) in order to offer more television and fixed-line services in its largest European market, said late on Thursday it had secured more than 75 percent of shares in the company, a condition for its 7.7 billion euro ($10 billion), 87 euro-per-share, offer.