Vodafone may have to increase its bid for Kabel Deutschland to around €11 billion ($14.7 billion) to sway the deal, according to the UK’s Sunday Times newspaper, after the German cable company rebuffed the UK operator’s initial advances last week.
Kabel Deutschland (Unterfoehring, Germany), the largest cable company in Germany, last week turned down Vodafone’s offer of €10 billion and has reportedly said that Vodafone (Newbury, UK) will have to make a higher offer simply to gain access to its books.
Scandinavia’s TeliaSonera has named Johan Dennelind as its new chief executive, saying the current Vodacom executive will take up his new position on September 1.
Dennelind is currently employed as chief executive of South Africa’s Vodacom International (Johannesburg) but has worked in a number of roles in the telecoms industry throughout a 20-year career.
The future of France Telecom Chief Executive Stephane Richard remained in question on Thursday, after he was put under investigation for conspiracy to commit fraud during his time as a top government aide.
The board of Europe's fourth-largest telecom group, which is 27 percent owned by the state, is set to meet in coming days to discuss Richard's fate.
Cisco Systems Inc predicts that a new product it unveiled on Wednesday will increase its cumulative revenue from core routers, which direct Internet data traffic, by 25 percent - to $10 billion - within the next two years.
The leading network equipment maker expects to cash in on ever increasing demand for Internet services with its new CRS-X router, its third in the CRS product series.
Vodafone said on Wednesday it had made an approach to buy Germany's biggest cable company Kabel Deutschland in what could be its largest deal since 2007 and mark a departure from its roots as a pure mobile operator.
Vodafone (Newbury, UK) had been pursuing a possible 10 billion euro ($13.3 billion) bid for the German firm since earlier this year, and hired Goldman Sachs to advise on options in February, sources told Reuters at the time.
"(Vodafone) confirms that it has made a preliminary approach to KD regarding a possible offer for the company," it said.
French mobile phone operator SFR is preparing to hold an initial public offering in late 2014 or early 2015, according to a report from Les Echos.
SFR (Paris, France) chairman Stephane Roussel told the newspaper that SFR must re-organize to be more independent from parent company Vivendi (Paris, France), with an IPO.
Roussel had been chief executive of SFR since June 2012, but relinquished that role in late May to Jean-Yves Charlier – a change in governance that appears to have been motivated by the prospect of “an initial public offering if market conditions permit”.
New Zealand operator Chorus has lashed out at regulatory moves to slash wholesale prices for access to its copper broadband services, arguing it will put the “once in a generation” transition to fiber at risk.
Meeting with New Zealand’s Commerce Commission, as well as representatives of the country’s retail operators, Mark Ratcliffe the chief executive of Chorus (Wellington, New Zealand), said the regulatory proposals had led to a “dramatic flight of international capital out of Chorus and New Zealand”.
Vodafone Group Plc has made an informal takeover bid within the past week for Germany's biggest cable company, Kabel Deutschland Holding AG, Bloomberg reported, citing people with knowledge of the matter.
Takeover talks have not formally begun because Kabel Deutschland (Unterfoehring, Germany) believes the price Vodafone (Newbury, UK) suggested was too low, Bloomberg said, citing people who were not authorized to speak publicly on the matter.
Japanese mobile operator SoftBank Corp said it agreed with Sprint Nextel Corp to raise its offer for the U.S. wireless carrier to $21.6 billion from $20.1 billion, as it fights off a counter bid by Dish Network Corp.
SoftBank's amended offer, Japan's biggest outbound deal, won the backing of hedge fund Paulson & Co, Sprint's second-biggest shareholder, which had earlier supported the Dish bid. Paulson said it would vote all its shares in favor of SoftBank's improved offer.
Telus Corp, Canada's second-largest wireless company by subscribers, ended its plan to buy struggling startup Mobilicity after the government blocked the deal in an effort to boost competition in the sector.
Last week, Canada rejected the transfer of Mobilicity's wireless spectrum licenses to Telus (Burnaby, Canada), effectively blocking its takeover of the startup as the government tries to hold back the industry's bigger companies from swallowing smaller rivals.