Norwegian telecoms group Telenor entered the online classifieds market on Monday, taking a stake in a Southeast Asian venture and establishing a South American business, it said in a statement.
Telenor (Fornebu, Norway) will take a 33.3 percent stake in Southeast Asia focused 701 Search, an existing venture between Singapore Press Holdings and Norwegian publishing house Schibsted, and agreed to establish a 50/50 joint venture with Schibsted to create SnT Classifieds with a focus on South America.
Spanish telecoms group Telefonica has struck a deal to gradually secure control of Telecom Italia and its lucrative South American business without having to launch a full takeover bid.
The multi-part 860 million euro ($1.2 billion) cash and shares deal secured on Tuesday will allow Telefonica (Madrid, Spain) to raise its stake in Telco, the holding company controlling about 22 percent of Telecom Italia (Milan, Italy), allowing Telco's other investors, Intesa Sanpaolo (Turin, Italy), Generali (Trieste, Italy) and Mediobanca (Milan, Italy) to eventually bow out.
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.
German phone company Deutsche Telekom will pick a buyer for its online classified advertising business Scout24 from four private equity firms, Focus magazine reported on Saturday.
Bidders Apax (London, UK), Silver Lake (Menlo Park, CA, USA), Hellman & Friedman (San Francisco, CA, USA) and TPG Capital (Fort Worth, TX, USA) must submit final bids by the end of October, the weekly magazine said, without citing a source.
The price range for Scout24 continues to be 1.5-2.0 billion euros ($2.03-2.70 billion), according to Focus.
Europe’s national regulatory authorities (NRAs) have rounded on proposed reforms by the European Commission (EC), arguing that regulation is being rushed through and will have dire implications for investment, competition and consumers across the region.
In a statement issued earlier this week, the Body of European Regulators for Electronic Communications (BEREC), which represents the interests of Europe’s NRAs, expressed concern that new rules would mark a shift away from a pro-competition approach to one that favored market consolidation.
AT&T Inc is planning to announce on Wednesday that it will expand its Latin American reach for business customers through a collaboration with Mexican billionaire Carlos Slim's America Movil.
AT&T (Dallas, TX, USA) will be able to do business in 15 countries, including Argentina, Chile and Colombia, through connections with America Movil (Mexico City, Mexico) networks, according to a representative for AT&T.
Investors have reacted glumly to the announcement by Oman’s government of plans to sell a 19% stake in Omantel, causing shares in the telecoms incumbent to fall to a ten-week low, reports Reuters.
Authorities have resurrected a plan to sell shares first unveiled in 2007, when eight operators from Europe, the Middle East and Asia managed to prequalify for the sale.
French cable company Numericable is planning an public offering this fall with an enterprise valuation of approximately €6 billion ($8 billion), reports French TV channel BFMTV and Dow Jones Newswires.
According to bankers cited by BFMTV, the company is to hold a meeting with financial analysts on Thursday at which it will discuss the details of the offering, with Deutsche Bank and JPMorgan Chase & Co acting as lead managers.
Board members of Telecom Italia are set to meet on October 3 to discuss options for the Italian telecoms incumbent amid ongoing speculation about its future ownership structure, according to Reuters.
Telecom Italia (Milan, Italy) has already scheduled a board meeting for this week and reports suggest that Spain’s Telefonica (Madrid) will make an offer to buy out other members of Telco, a consortium of shareholders that owns 22% of Telecom Italia.
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.