Mexico's Senate on Tuesday approved seven nominees to head a new telecommunications regulator created by a sweeping sector overhaul that seeks to boost competition and tame billionaire Carlos Slim.
The regulator, known as Ifetel, will replace a weaker regulatory agency and have new powers to police a telecommunications market dominated by Slim's America Movil (Mexico City, Mexico) and Televisa (Mexico City, Mexico).
Vodafone urged Kabel Deutschland shareholders to accept its 7.7 billion euro ($10.1 billion) offer, warning the bid would lapse if less than three quarters of them agree to sell Germany's largest cable operator by Wednesday.
Earlier on Monday the Financial Times said the British mobile network operator may fail to reach the 75 percent acceptance threshold, citing anonymous shareholders.
Vodafone may fail to reach the 75 percent threshold of acceptances from shareholders needed to clinch Germany's largest cable operator Kabel Deutschland, the Financial Times said on Monday.
"Some of Kabel Deutschland's [Unterfoehring, Germany] shareholders believe that the amount of tenders offered will fall well short of this goal," the paper said, citing anonymous shareholders.
Vodafone (Newbury, UK) agreed a 7.7 billion euro ($10.13 billion) offer for Kabel Deutschland in June, a near 40 percent premium to Kabel's share price before its interest first emerged.
Dutch telecoms group KPN, the subject of a takeover bid by Mexico's America Movil, said on Monday its chief financial office Eric Hageman had resigned with immediate effect, only a year after taking the job.
The group said in a statement that Hageman was resigning due to personal circumstances and that this was not related to working relationships or the present situation of the group.
"KPN [The Hague, Netherlands] will make a further announcement regarding the CFO role as soon as possible," KPN said.
Vodafone's plan to boost investment in broadband and superfast mobile networks after its $130 billion deal with Verizon could force its European competitors to increase their own spending and even prompt further deal-making.
Under its "Project Spring", Vodafone (Newbury, UK) plans to raise its capital expenditures by 6 billion pounds ($9 billion) over three financial years to improve network quality for customers in Europe and emerging markets such as India and South Africa.
Verizon Communications Inc said on Tuesday that it could expand internationally or buy more spectrum in coming years even while it pays down debt from its $130 billion purchase of Vodafone Group Plc's 45 percent stake in Verizon Wireless.
Verizon (New York City, NY, USA) shares fell as much as 4.8 percent as investors reacted to the financial terms of the acquisition, which was announced on Monday, a U.S. public holiday when financial markets are closed.
Leading stakeholders in Telecom Italia are interested in selling their shares amid raised expectations following Verizon’s $130 billion deal to buy Vodafone out of their US joint venture, reports Reuters.
According to sources familiar with the matter, investors in Telco, which controls 22.4% of Telecom Italia (Milan, Italy), are looking to take advantage of the current market conditions and cash in their shares, with Vodafone (Newbury, UK), Japan’s SoftBank (Tokyo) and Mexico’s America Movil (Mexico City) seen as possible buyers, according to brokerage firm Bernstein.
VimpelCom has announced that Mikhail Slobodin will become chief executive of its Russia business unit, with Anton Kudryashov promoted to the role of chief business development and portfolio officer for the entire company.
Slobodin joins VimpelCom (Amsterdam, Netherlands) from energy company TNK-BP (Moscow, Russia), where he was executive vice president of strategy and new business development, and takes up his new position in the telecoms industry immediately.
Verizon Communications was poised on Monday to finally take full control of its U.S. wireless business with a $130 billion deal that would buy out Vodafone and bring an end to a decade-long corporate standoff.
The British firm said late on Sunday it was in advanced talks with Verizon (New York City, NY, USA) to sell its 45 percent stake in the Verizon Wireless joint venture for cash and common shares in what would be the world's third-largest deal of all time.
America Movil threatened to abandon its bid for Dutch telecom KPN on Friday, saying it has no plans to raise the 7.2 billion euro ($9.5 billion) offer, after a foundation representing KPN told the Mexican firm to improve its proposal or face a veto.
The foundation, an independent group of former Dutch companies' executives tasked with protecting KPN (The Hague, Netherlands) stakeholders, bought almost 50 percent of KPN's voting stock late on Thursday, moving to block the deal.