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.
Vodafone Group Plc
Shares in Tata Teleservices rallied to as much as 14.79% on Friday following news on buyout talks with British telecom company Vodafone. Indian conglomerate Tata Group is reportedly in talks with Vodafone to sell its 59.45% stake in Tata Teleservices.
Vodafone Group has agreed on a domination agreement with Kabel Deutschland a few months after purchasing the German cable company for €7.7 billion. Domination agreements are used in Germany by acquirers who wish to gain full control of the company without controlling all the shares.
Verizon Communications Inc. in September said that it will acquire Vodafone Group's 45% stake in their wireless joint venture. The American telco has set a shareholder meeting on January 28 to get investor approval for the deal.
As preparations regarding a potential merger between Vodafone Group Plc and AT&T Inc was happening, Paulson & Co said in its regulatory filing that it had increased its ownership stake in the phone company.
Elliot Management is holding out for a higher valuation of its shareholdings in Kabel Deutschland in the takeover bid by Vodafone Group Plc.
A source said Vodafone Group Plc was not interested in bidding for Telecom Italia's Tim Participacoes SA.
Rogers Communications had gone overseas in search of a new CEO to replace Nadir Mohamed who would step down from office on December 2.
The rates for the loans engaged by Verizon Communications to pay off the 45% Vodafone ownership in the Wireless venture was recently released.
The complications arise from the current bid by Vodafone Group Plc because of the increased shareholdings of Elliot Management Corp in Kabel Deutschland.
The boards of Verizon and Vodafone would vote over the weekend on the proposed USD130 billion buyout.
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