France’s Orange has announced a $1.4 billion sale of its business in the Dominican Republic to private-equity player Altice.
Earlier this week, the two companies were reported by the UK’s Financial Times newspaper to be holding talks about a sale of Orange Dominicana, with Stephane Richard, Orange’s (Paris, France) chief executive, promising to provide an update to investors within days.
Privately held Cox Communications is considering bidding for Time Warner Cable either on its own or as part of a joint bid, The Wall Street Journal reported on Tuesday, citing anonymous sources.
Recent media reports suggest Time Warner Cable (New York City, NY, USA) is currently being circled by Charter Communications (Stamford, CT, USA) and top cable provider Comcast (Philadelphia, PA, USA) could jump into the fray with a joint bid for Time Warner Cable along with Charter.
Vivendi's supervisory board on Tuesday unanimously backed a plan to demerge the group's SFR business as it reduces exposure to telecoms and focuses on media.
The French group named Hearst Magazines' (New York City, NY, USA) Arnaud de Puyfontaine head of media and content activities to run the remaining businesses - Universal Music Group (Santa Monica, CA, USA), pay-TV company Canal Plus (Issy-les-Moulineaux, Franc) and Brazilian telecom unit GVT (Curitiba, Brazil).
The supervisory board also confirmed top shareholder Vincent Bollore as chairman of the future Vivendi.
French telecoms incumbent is reportedly in discussions to sell its business in the Dominican Republic to private-equity player Altice for the sum of about €1 billion ($1.35 billion).
According to a report from the UK’s Financial Times newspaper, which cites a source close to the situation, Altice is participating in an auction process being conducted by Orange (Paris, France).
Finnish operator DNA has announced the appointment of Jukka Leinonen as its new chief executive.
Leinonen was previously the company’s vice president of corporate business but has been acting chief executive since the end of August 2013, when former chief executive Riitta Tiuraniemi quit the role.
“The aim of the Board of Directors was to find a CEO who has a strong ability to map out new opportunities for DNA (Helsinki, Finland) in the midst of the upheaval in the telecommunications industry,” said Jarmo Leino, DNA’s chairman.
Legislation to implement a major overhaul of Mexico's telecommunications industry will not be approved until early next year, pushing back a deadline set for December, two senior lawmakers said on Saturday.
The secondary laws set out the fine print for a telecoms reform promulgated in June by President Enrique Pena Nieto which gives regulators sweeping powers to rein in billionaire Carlos Slim's telecoms giant America Movil (Mexico City, Mexico) and dominant broadcaster Televisa (Mexico City, Mexico).
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Russian telecoms incumbent Rostelecom has flagged growth in revenues and profits on the back of rising demand for broadband and pay-TV services.
The state-controlled operator reported a 12% increase in net profit for the three months ending September, to RUB10.5 billion ($319 million), and a 2% rise in revenues, to RUB78.2 billion, compared with the same period of 2012.
Deutsche Telekom is reported to be holding exclusive talks with private-equity player Hellman & Friedman over the sale of its Scout24 online classifieds portal.
According to a report from the UK’s Financial Times newspaper, citing sources familiar with the matter, the German incumbent is on the verge of selling a 70% stake in Scout24 to Hellman & Friedman (San Francisco, CA, USA) for the fee of about €1.5 billion ($2 billion).
A rally in European telecom stocks has closed the big valuation gap with U.S. peers seen nine months ago, boosted by hopes that regulators will allow more mergers in the industry as it starts to recover from the bruising recession.
A series of telecoms and cable industry deals this year has helped fuel speculation that competition regulators will loosen the leash on mobile firms wanting to merge to encourage the investment needed for Europe to catch up on building faster broadband networks.