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’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,
Weekend catch-up
In case you missed these (FT) reports:
Fannie and Freddie doubts grow
Shares in Fannie Mae and Freddie Mac fell Friday amid concerns foreign investors are cutting their exposure to the troubled US mortgage financiers’ bonds and guaranteed securities.
Snap news
The latest on Monday,
- Bradford & Bingley rights issue sees just 28% takeup – statement.
- Vodafone acquires 70% in Ghana Telecommunications for $900m – statement.
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Snap news
The latest on Wednesday,
- Vodafone introduces £1bn share buyback programme with immediate effect: board says shareprice “signifcantly undervalues vodafone” – statement
- Centrica takes 51% stake
Not so good to talk: Vodafone crunched
It’s a miniature telecoms crash on Tuesday.
Sweden’s Ericsson has reported a 70 per cent fall in Q2 profit – with declining revenues in its Sony joint venture as the main culprit.
The big story though – and the one dominating the London market this morning – is Vodafone.
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.
Verizon in talks to buy Alltel
Verizon Communications, the second-largest US telecoms group, is in talks to acquire Alltel, the fifth-largest US mobile network operator, for $27bn in cash and paper, reports the FT. The talks come just six months after Alltel was bought for $27.5bn by TPG Capital and Goldman Sachs Capital Partners.
Vodadeals
How’s this for a piece of multi-billion dollar corporate multi-tasking.
Having just announced the out-of-the-blue departure of its chief executive, Arun Sarin, Vodafone is seemingly closing in on two deals – one stirring a battle for control of fast-developing emerging telecoms markets,
Snap news
The latest on Tuesday,
- Vodafone to make formal €1.6bn bid in next 24 hours for Tiscali at €2.8 a share – Dow Jones.
- GfK and Taylor Nelson Sofres boards agree terms for merger of equals –
Snap news
The latest on Tuesday,
- Board of InBev reportedly to decide as early as Tuesday on whether to pursue takeover talks with Anheuser Busch. Reuters
- Baugur pulls bid for Moss Bros – statement
- Vodafone says adjusted operating profit 2007/08 up 5.7% to £10.1bn;
Sarin to stand down from Vodafone
Arun Sarin is to announce he is standing down as chief executive of Vodafone after five years of leading the world’s largest mobile phone operator by revenue, reports the FT. Sarin, 53, will surprise many in the telecommunications industry by saying he will step down in July.
Vodafone enters chase for Tiscali
Vodafone has emerged as one of the frontrunners in the auction for Tiscali after it submitted a bid for the entire €1.4bn (£1.1bn) Italy-based broadband company, reports the Daily Telegraph. It is understood that BSkyB,
Vodafone denies MTN interest
Vodafone insisted at the weekend it had no plans to make a bid for MTN, a leading mobile phone operator in Africa and the Middle East, reports the FT. The UK group last week reviewed the case for bidding for MTN after Bharti Airtel,
Vodafone plans IPO for Qatari unit
Vodafone is preparing for an IPO of its Qatari subsidiary, to sell about 20% of the shares before the end of the year. In December, a consortium led by the UK-based operator won a licence to break the mobile phone monopoly in Qatar,
Vodafone’s SA hopes revive on Oger talks
Vodafone’s hopes of securing control of South Africa’s largest mobile phone operator have been revived by the actions of a Middle East telecoms group. Oger Telecom, the Dubai-based company which owns Cell C,
Vivendi ‘patient’ on Vodafone’s SFR stake
Vivendi, the French conglomerate, on Wednesday underlined its determination to secure full ownership of SFR, France’s second largest mobile phone operator by buying out Vodafone’s stake. Jean-Bernard Lévy,
AT&T eyes stake in Malaysia’s TM
AT&T, the biggest US phone company, wants to buy an unspecified stake in the mobile arm of state-controlled phone firm Telekom Malaysia, reports Reuters, citing a Malaysian newspaper report on Wednesday.
Vodafone forges Indian alliance
Vodafone has finalised a mobile phone infrastructure sharing agreement with rivals in India that should accelerate wireless coverage across the country and provide the participating companies with significant cost savings,
Vodafone’s Africa plans suffer setback
Vodafone was on Wednesday dealt a setback in its attempt to gain a leading presence in Africa. Telkom, South Africa’s former telecommunications monopoly, called off talks on a deal that could have given the UK mobile phone group control of Vodacom,
Vodafone plans expansion in China
Vodafone is seeking to increase its presence in China through a government-led restructuring of the country’s telecoms industry. Arun Sarin, Vodafone’s chief executive, told the FT that the UK mobile phone group’s $13bn stake in China Mobile,
India’s Essar to raise $3.6bn syndicated loan
India’s Essar on Tuesday started the process of raising the country’s second-largest syndicated loan, ignoring tremors in global credit markets. The group, which owns 33% of Vodafone Essar, India’s fourth-largest mobile phone group,
Sarin seeks to control, not own, Vodacom
Vodafone could take control of Vodacom, South Africa’s leading mobile operator, for far less than the $10bn-$11bn previously mooted by analysts, its chief executive indicated on Wednesday.
Arun Sarin told a conference in New York that Vodafone would not be interested in buying all of the 50% stake in the joint venture it does not already own.
Vodafone eyes deals in Italy and Spain
Vodafone is considering buying telecoms infrastructure in Italy and Spain to allow it to supply fixed-line broadband to its mobile phone customers. The UK group, the world’s largest mobile operator by revenue,
Vodafone, Vodacom and how Telkom’s coach could turn into a pumpkin
Vodafone could pay up to $10bn to take full control of Vodacom, South Africa’s largest mobile group, in a deal that Business Day, South Africa’s main business newspaper, says “has an endearing neatness about it”.
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,