PARIS/MADRID (Reuters) - Orange has offered buy Spanish telecoms operator Jazztel for around 3.4 billion euros (4.40 billion US dollar), a deal that could help the French company jump ahead of rival Vodafone in the country's mobile market.
Orange's offer for Jazztel is at 13 euros per share in cash, valuing it at 3.4 billion euros. The French company will pay for the acquisition with hybrid bonds and a capital increase of up to 2 billion euros.
Jazztel Chairman Leopoldo Fernandez Pujals has agreed to sell his 14.5 percent stake.
WASHINGTON (Reuters) - Verizon Communications Inc is open to divesting its network's assets including its cell towers, the company's chief financial officer said on Wednesday.
Verizon, which in February completed a $130 billion deal to buy Vodafone's stake in Verizon Wireless and get full ownership over the company, has previously announced plans to trim some aspects of its portfolio.
KUALA LUMPUR (Reuters) - Malaysian telecoms company U Mobile is planning an initial public offering as it embarks on a 1.5 billion ringgit ($470 million) network expansion, Chief Executive Officer Wong Heang Tuck told Reuters on Tuesday.
Wong declined to say much the company planned to raise or when it would launch the IPO. Asked about the offering, Wong said: "It depends on where the market is at that point in time... but we are on our way there."
(Reuters) - U.S. network gear makers are bracing for slower revenue growth in the second half of the year as telecom operators, their main customers, postpone spending until the dust settles on several big mergers.
Telecom giants AT&T Inc and Sprint Corp are taking time to decide whether to upgrade existing wired networks or roll out 4G networks, forcing gear makers to cut expectations for what is usually the stronger half of their year.
(Reuters) - Dish Network Corp's <DISH.O> chairman, Charlie Ergen, recently contacted Deutsche Telekom AG <DTEGn.DE> to express interest in acquiring the German company's unit, T-Mobile US Inc <TMUS.N>, Bloomberg reported, citing people with knowledge of the matter.
Ergen has not made a formal offer or hired any bank to advise it on the potential deal, the report said.
(Reuters) - Employees of Time Warner Cable will be $416 million richer even if the cable operator's merger with Comcast does not close, a move designed to keep staff from bolting while federal regulators contemplate the deal.
A proxy statement, prepared for the shareholders meetings of both companies in October to vote on the merger, also lays out the nearly $81.8 million golden parachute that Time Warner Cable's chairman and chief executive, Robert D. Marcus, would receive.
WASHINGTON (Reuters) - Verizon Communications Inc will pay $7.4 million to settle a U.S. investigation that found the company failed to notify properly some customers of their privacy rights before using their information for marketing, U.S. regulators said on Wednesday.
By Paul Carsten
BEIJING (Reuters) - Baidu Inc launched on Wednesday a service that helps retailers advertise on the smartphones of nearby users as China's dominant search engine company expands its location-based technology to drive growth.
Baidu currently makes most of its income from desktop-based search advertising and has lagged peers such as Tencent Holdings Ltd in capitalizing on the popularity of mobile internet in China, the world's largest market for smartphones.
FRANKFURT (Reuters) - German internet service provider United Internet said on Wednesday it had agreed to acquire buyout group KKR's 74.9 percent stake in cable group Versatel for about 586 million euros ($769 million) in cash.
United Internet, which already controls 25.1 percent of Versatel, had said last month it was considering a complete takeover of the company, which owns Germany's second-largest fiber optic cable network with a length of about 37,000 kilometers.
RIO DE JANEIRO/PARIS (Reuters) - Brazil’s Grupo Oi SA unveiled plans on Wednesday to take over Telecom Italia's local mobile unit, in a move sources said was aimed at breaking up the country’s second-biggest wireless carrier and upstaging merger bids by foreign rivals.
Oi said on Wednesday that it hired Brazilian investment bank and shareholder Grupo BTG Pactual SA to explore alternatives to acquire Telecom Italia SpA's 67 percent stake in TIM Participações SA, the country's second biggest wireless carrier.