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’Deutsche Telekom’s win/win deal
Wow!
The price action in Deutsche Telekom on Monday morning:
That’s a rise of 12 per cent for the €40bn company.
Make no mistake, the deal to sell its struggling US business to AT&T for $39bn in cash and stock is an excellent one.
Vodafone must wait for Verizon bonus
Vodafone will receive no dividend from its stake in Verizon Wireless until 2012 at the earliest after the US wireless carrier’s $28bn acquisition of rival Alltel but the deal will “significantly increase” the investment’s value,
AllVeriFone – Verizon Wireless takeover is a done deal
Marvellous, innit, how this:
“There is no deal at this time. It is premature.”
Can become this:
Verizon Wireless has entered into an agreement with Alltel Corporation and Atlantis Holdings LLC,
LBO risk transfer
Verizon in talks to buy Alltel mobile network – FT
The above chart is rebased. In real terms, Alltel CDS tightened an incredible 389bps yesterday.
Vodafone faces Verizon dividend delay
Britain’s Vodafone is unlikely to receive dividends on its 45 per cent stake in Verizon Wireless, the second-largest US mobile operator, until 2010 or later, based on an FT analysis of the joint venture’s debt and potential spending plans.
Tribunal thwarts Vodafone tax hopes
Vodafone has had its hopes dashed of securing a swift resolution to its dispute with the UK authorities over a potential £2.5bn tax bill. A London tribunal on Wednesday turned down Vodafone’s attempt to halt an inquiry by HM Revenue & Customs into the tax treatment of its Luxembourg subsidiary.
Vodafone passes on Verizon put
Vodafone, as expected, on Wednesday opted for the status quo, saying that it would not exercise its right to sell part of its stake in Verizon Wireless.
The put option, the existence of which became widely known last month and prompted a wholesale look at Vodafone’s US strategy,
Vodafone rejects sale of Verizon stake
Vodafone is to retain its stake in Verizon Wireless after opting not to exercise an entitlement to sell its $54bn stake in the US joint venture, reports The Times. The UK mobile group has until Thursday to exercise a “put” option entitling it to sell up to $10bn of shares in the venture to Verizon Communications,
Verizon Wireless buys Rural for $2.67bn
Verizon Wireless, a joint venture between Verizon Communications, the second-largest US mobile carrier, and Britain’s Vodafone, is to acquire Rural Cellular in a deal valued at $2.67bn that will expand its US wireless service coverage in rural markets and add about 700,000 subscribers.
Vodafone sees off rebel ECS
Vodafone’s board has comfortably defeated rebel shareholder Efficient Capital Structures, which was urging the UK telecoms group to spin off its 45 per cent stake in Verizon Wireless, the US mobile operator.
Vodafone board to face tough call
Vodafone’s board is expected to meet Monday to discuss the future of its 45 per cent stake in Verizon Wireless, a leading US mobile operator, ahead of Vodafone’s annual meeting on Tuesday. Efficient Capital Structures,
Vodafone defends stake
Vodafone conceded on Thursday there was “no absolute guarantee” it would receive dividends from Verizon Wireless, the second-largest US mobile operator, in two years’ time. Vodafone has been reassuring investors about the merits of retaining its minority stake in Verizon Wireless by stating dividend payments could resume in about two years.
Vodafone’s Verizon saga…
Vodafone said on Monday it had “no plans” to bid for Verizon Communications, the parent of US mobile phone operator Verizon Wireless, after FT Alphaville reported that the UK mobile network operator considered making a full,
[Vodafone and Verizon] The nitty-gritty on Vodafone/Verizon – III
One intriguing detail (albeit a multi-billion dollar detail) accompanying Vodafone’s abortive work on a possible bid for its American partner, Verizon Communications, is that Vodafone has been pressing Verizon Wireless to expand in the US by acquisition while simultaneously mulling its own transatlantic takeover plan.
[Vodafone and Verizon] The nitty-gritty on Vodafone/Verizon – II
A key driver in Vodafone’s quest to find a solution to the long-running tensions over Verizon Wireless, the 45/55 joint venture with Verizon Communications, has been Vodafone’s desire to get cash out of the American mobile business.
[Vodafone and Verizon] The nitty-gritty on Vodafone/Verizon – I
A short statement on Monday lunchtime from Vodafone stated, quite clearly, that the British mobile phone group has no plans to bid for Verizon, its US counterpart. It followed news earlier on FT Alphaville saying Vodafone has been considering a $160bn offer.
[Vodafone and Verizon] Vodafone’s extraordinary $160bn Verizon plan
Mobile phone group Vodafone has been considering a $160bn takeover bid for its American peer and partner, Verizon Communications — a deal that, if consummated, would rival AOL’s takeover of Time Warner and Vodafone’s earlier acquisition of Germany’s Mannesmann as one of the largest M&A transactions on record,
ECS: Verizon a ‘cash drain’ on Vodafone
A rebel shareholder will on Tuesday highlight how Vodafone’s stake in a US mobile phone operator is a “cash drain” on the UK group. Efficient Capital Structures, an activist shareholder backed by John Mayo,
Vodafone investors cheer call for change
The rebel shareholder demanding far-reaching change at Vodafone on Thursday won cheers from some of the company’s leading investors for sparking a debate on the management’s strategy. Efficient Capital Structures,
Verizon spin off frees resources
Verizon Communications further reduced its debt on Tuesday by agreeing a $2.7bn deal to spin off part of its fixed-line business in New England and merge it with FairPoint Communications, a company focused on rural and small urban markets.