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A major telecom company said it was in the early stages of thinking about euthanising a corporate basket-case on Monday.
Cable & Wireless Worldwide shares were up 28 per cent at pixel time:
FT Alphaville were left scratching their heads about what Vodafone might want.
Snap news
Breaking pre-market news on Monday,
- Vodafone considering an all-cash offer for Cable & Wireless Worldwide — statement
- Olympus forecasts $412m annual loss, “no concrete talks” on tie-up — statement and report
- Fidessa revenue up six per cent,
Snap news
Breaking pre-market news on Tuesday,
- Olympus admits to covering up losses since 90′s — statement and statement.
- Lloyds Banking Group warns medium-term financial targets may be delayed; however Q3 Net Interest Margin in line with forecasts — statement.
Snap news
Breaking pre-market news on Monday,
- Vodafone confirms in talks with Wind Hellas on possible business combination — statement.
- Gazprom posts RUB 1,317bn revenues in first quarter — statement.
Snap news
Breaking pre-market news on Friday,
- BSkyB says will launch £750m buyback, announces 20 per cent dividend hike – statement.
- Vodafone to pay special dividend of £2.0bn from Verizon Wireless – statement.
Snap news
Breaking pre-market news on Friday,
- Vodafone reiterates guidance but sales performance in Europe disappoints — statement.
- TomTom reports Q2 loss after taking large impairment charge — statement.
Snap news
Breaking pre-market news on Tuesday,
- Talks between BP, Rosneft and AAR shareholders fail to reach agreement – Reuters.
- Babcock full-year profit soars 57 per cent to £228.2m – statement.
- Vodafone sets 2012 guidance in line with forecasts,
TalkTalk(ing) non bid rumours
Shares in TalkTalk Telecom Group, Britain’s second-biggest broadband provider, are sharply higher on Thursday morning.
But if any broker tries to push the tired old Vodafone takeover story, tell them to xxxx off.
Snap news
Breaking pre-market news on Wednesday,
- BBVA announces 9 per cent rise in full year profits, says bad debts stable — statement.
- Roche forecasts low single digit sales growth in 2011 — statement.
Snap news
Breaking pre-market news on Friday,
- Vodafone reiterates full-year outlook – statement.
- BP says relief wells suspended due to storm Bonnie – statement.
- De Beers says H1 profit surges, CEO to step down – Reuters.
Snap news
Breaking pre-market news on Tuesday,
- Vodafone expects 2011 operating profits to be in the range of £11.2bn to £12bn; takes impairment charge of £2.3bn on Indian operations – statement.
- Yell announces retirement of chief executive and chief financial officer;
Snap news
Breaking pre-market news on Thursday,
- Deutsche Bank reports net income of €5bn for the year 2009, versus €3.9bn loss in 2008 – statement.
- Santander reports annual results and announces large rise in loan loss provisions – statement.
For corporate bonds, a week is an eternity
“Corporate markets head for indigestion”, was the headline last week for a bleak prognosis:
After the busiest start to any year for sovereign emerging-market debt, it’s corporate bond investors around the world who now seem to be heading for a massive case of indigestion,
Dear Vodafone
Bernstein analyst Robin Bienenstock has opened her heart to the management and board of Vodafone — via an open letter.
And she does not hold back.
In it she laments the fact that Vodafone “has the potential to become the most compelling transformational story in European Telecoms,”
Mobile JV puts heat on Vodafone, Telefónica
Vodafone and Telefónica of Spain are under mounting pressure to strengthen their positions in the UK after the publication of plans for a joint venture between France Telecom’s Orange UK and Deutsche Telekom’s T-Mobile UK.
Fight is on for T-Mobile UK
A bidding war has started for T-Mobile UK after Vodafone and Telefónica made informal offers worth about £4bn for Deutsche Telekom’s British subsidiary. The cash offers, submitted at the end of August,
Deutsche Telekom in UK unit sale talks
Deutsche Telekom has started talks with the UK’s Vodafone, France Telecom, and Telefónica of Spain about selling T-Mobile UK, its flagging mobile phone unit which was valued in early summer at €3bn-€4bn.
Telefónica eyes T-Mobile UK bid
The prospect of a bidding war for T-Mobile UK loomed on Wednesday night as it emerged that Telefónica of Spain is considering a bid for the UK’s fourth largest mobile phone operator. Telefonica fears competitive threats to O2,
Vodafone stays quiet on T-Mobile UK
Vodafone was trying to lie low on Monday night, refusing to comment on its interest in Deutsche Telekom’s T-Mobile UK, after the FT reported on Monday that the world’s largest mobile phone operator by revenue was considering an offer to buy T-Mobile UK.
Vodafone eyes T-Mobile UK bid
Vodafone is considering an offer to buy T-Mobile UK, in an audacious move that would have huge impact on the UK mobile phone market. The world’s largest mobile operator by revenue is looking at the case for acquiring T-Mobile UK,
Vodafone threatens to join UK exodus
Vodafone has raised the prospect of joining the tax exodus from Britain after demanding a “dialogue with the government” on the subject of tax on foreign earnings, reports The Times. Andy Halford, Vodafone’s finance director,
UK broking battle heats up
The dogfight for FTSE 100 brokerage mandates is heating up as rival banks take aim at the clients served by UBS and Bank of America/Merrill Lynch, two market leaders that are perceived to be vulnerable.
Snap news
Breaking pre-market news on Thursday,
- Telefonica, Vodafone said to be preparing bids for Hansenet – Bloomberg.
- Nationwide reports surprise bounce in March house prices – statement.
- National Express appoints John Devaney as chairman – statement.
CDS report: Hammerson, Fortis grab spotlight in quiet markets
Hammerson made headlines in what were generally subdued credit markets on Monday. The UK property group announced a £584.2m rights issue backstopped by shareholders to fortify its balance sheet as declining property prices brought it close to breaking bank covenants.
CDS update: Credit sentiment improves, tracking equities
This CDS report was written by Markit’s Gavan Nolan
European credit indices tightened today, tracking a strong performance from equities. The Markit iTraxx Europe index was trading around 160bp, over 5bp tighter than Monday’s close.
Yahoo eyes ex-Vodafone chief Sarin
Arun Sarin, the former chief executive of Vodafone, is among those being considered by board members at Yahoo to take the top job at the internet firm, reports the WSJ. Yahoo’s directors are moving closer to a recommendation and have authorised checking references on a few key candidates,
Snap news
The latest on Tuesday,
- T1 scuppers Gemfields offer – statement
- ONGC Videsh says Russian regulatory conditions have been met in bid for Imperial Energy – statement
- Corporate results: Aveva,
Vodafone makes offer for Vodacom
Vodafone’s strategy of seeking to boost growth by expanding in emerging markets took a big step forward Thursday night when it announced a R22.5bn ($2.5bn) offer for a controlling stake in Vodacom, South Africa’s biggest mobile phone operator.
Vodafone-Essar dispute deepens
A dispute between Vodafone and a local Indian partner is escalating after the UK-based company won an order blocking the sale of shares of a mobile phone unit controlled by the Essar group. An arbitration panel has ordered Essar to freeze the sale of any shares of the mobile unit,