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.
American Tower Corp said it would buy the parent of telecom tower operator Global Tower Partners for $3.3 billion as it seeks a bigger share of the billions of dollars that U.S. telecom carriers are spending to upgrade their networks.
American Tower (Boston, MA, USA) shares rose about 4.5 percent in late morning trade on the New York Stock Exchange as investors cheered the acquisition, the latest in a string of deals in the sector.
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.
Microsoft Corp will buy Nokia's phone business and license its patents for 5.44 billion euros ($7.2 billion), a bold foray into mobile devices that also brings potential chief executive contender Stephen Elop back into the fold.
Two years after hitching its fate to Microsoft's (Seattle, WA, USA) Windows Phone software, the Finnish phone maker that once dominated the global market collapsed into the arms of the U.S. software giant, its mobile business ravaged by nimbler rivals Apple Inc (Cupertino, CA, USA) and Samsung Electronics (Seoul, South Korea).
Mobile communications and M2M player Gemalto has realized impressive gains in revenues and profit for the first half of 2013 thanks in part to a better product mix at its M2M division.
The company saw overall revenues increase by 11% over the same period of 2012, to €1.13 billion ($1.49 billion), while net profit rose by 9.3%, to €105 million.
“Gemalto [Amsterdam, Netherlands] recorded another strong semester of profitable growth, more than offsetting increased investments in operations made in the second part of last year,” said Olivier Piou, Gemalto’s chief executive.
M2M gateway developer Option has swung to a massive loss and witnessed a huge decline in revenues following the expiration of a licensing agreement with China’s Huawei.
The Belgian company reported a net loss of €7 million ($9.22 million) for the first half of the year, compared with a net profit of €3.67 million for the same period of 2012, and saw revenues fall to just €5.15 million from €23.28 million over the same period.