Finance shorts
- France isn't the only country currently rubbing EU regulators up the wrong way. Brussels is also investigating a [euro] 112m government-guaranteed bailout loan for troubled German mobile operator MobilCom. As if to soften the blow, the EU also approved a [euro] 50m loan granted by Berlin last September.
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- Just when you thought Vodafone's spending spree was grinding to a halt, the UK giant starts bidding for the shares it doesn't own in Dutch subsidiary Libertel. Vodafone said it would pay [pound] 11 in cash for each share, a premium of 36% to the price before Vodafone revealed its interest. Vodafone already has 84% of Libertel and is confident of success.
- Shares in Telecom Italia plunged 10% on the news of the company's plans to merge with Olivetti. CEO Marco Tronchetti Provera wants to simplify the chain of seven publicly traded companies that ultimately control TI.
- Olivetti has [euro] 15.2bn in debt and is effectively financed by TI. Investors, who twice rejected financial terms offered by Roberto Colaninno, Mr Tronchetti Provera's predecessor to reduce the chain, could yet scupper the merger if they don't like the terms. Olivetti will offer seven of its shares for each Telecom Italia share, with one new savings share in the merged group for each existing Telecom Italia savings share.
In addition, make sure to read these articles:
- T-Mobile HotSpot Announces Wi-Fi Roaming Agreements with Six Other International Wireless...
- iBasis and KPN Extend Outside Date of Transaction.
- iBasis and KPN Extend Outside Date of Transaction.
- Stream Posts Q1 Loss, Ups Subs
- J.P. Morgan Announces Appointment of Italian Member toInternational Advisory Board.
- Pirelli Interested in Further Alliances.
- Finance shorts
- Italy: Keep it in the family
- Italia On Pay Tv Road Without Spinoff Route
- Reinventing Tiremaking.
- Week In Review Digest
- Shorts
- TI's Austrian waltz ends
- Europe: Olivetti plans merger with Telecom ltalia
- Corning to Acquire Pirelli's Optical Componentsand Devices Business For $3.6 Billion.
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