VENTURE CAPITAL POST

Datamolino, a Slovak startup processes invoices and receipts without the need for manual data entry, has received €500,000 for its seed financing round from Slovak Innovations and Technologies Fund, TechCrunch reported.

UK-based telecommunications firm Vodafone Group Plc is in talks to purchase Spain-based cable operator Grupo Corporativo ONO SA, according to unnamed sources cited by Bloomberg.

In a bid to match Silicon Valley's success, the European Commission (EC) launched the Startup Europe Partnership tech startup accelerator and the European Digital Forum think tank at the World Economic Forum in Davos.

Spain's Telefonica said it was not thinking of making a joint bid for TIM Brasil, the Brazil-based wireless network operator of Telecom Italia, Reuters reported.

Italian newspaper Il Sole 24 Ore said Telefonica is planning a joint offer of TIM Brasil, the local wireless unit of Telecom Italia, Reuters reported.

Shareholders of Telecom Italia on Friday thwarted by a slim majority a proposal by rebel investor Marco Fossati to oust its board. Fossati, the third-largest shareholder in Telecom Italia, may consider pursuing a legal challenge.

New York-based money manager BlackRock Inc. increased its stake in Telecom Italia to 10%, becoming its second-largest shareholder. This could potentially tip the balance at a shareholder meeting set to vote on the proposed ouster of Telecom Italia's board, according to a Reuters report.

Telecom Italia's activist investor Marco Fossati campaigned against the enforced sale of TIM Brasil. Brazil's competition regulatory body ruled earlier this week that Telecom Italia must divest its stake in the Brazilian mobile carrier.

The antitrust regulator of Brazil has instructed Telefonica to bring down its influence in the country's telecommunications business either by reducing its holdings or convincing Telecom Italia to sell its local unit.

Spanish telecom group, Telefonica, announced on Thursday that it was open to talks about mergers, acquisitions and deals to share its networks in Mexico in order to streamline its operations.

Telecom Italia, the largest telecommunications company in Italy, will be selling its controlling stake in Buenos Aires-based Telecom Argentina to investment firm Fintech for EUR4 billion.

Spanish telecommunications firm Telefonica said it had sold a 65.9% interest in its Czech unit to investment group PPF.

PPF Group, a Czech investment group, had discussed with Telefonica regarding a possible acquisition deal for the Spanish telecoms' unit in Czech Republic.

Sources told Bloomberg that Telefonica was preparing to sell the 69% stake it holds in Telefonica Czech Republic.

Telefonica seeks to retain control over Telecom Italia through buyout of venture partners in Telco.