LONDON/NEW YORK (Reuters) – Verizon Communications is close to buying the remaining stake in Verizon Wireless from Vodafone Group PLC it does not own for potentially $130 billion, according to people familiar with the talks, in what could be the third-biggest deal of all time.
Verizon, the number one U.S. mobile carrier, has made no secret of its desire to gain full ownership of a network that is growing fast and generating billions of dollars in free cash flow, hoping to reap the monetary benefits.
LONDON/NEW YORK, Aug 29 (Reuters) – Vodafone Group PLC
said on Thursday that it was in talks with Verizon
Communications Inc to sell its prized stake in Verizon
Wireless, the number one U.S. mobile carrier, in what would be
the third-biggest deal of all time.
Verizon has made no secret of its desire to gain full
ownership of a network that is growing at a rapid rate and
generating billions of dollars in free cash flow, but the
companies have tussled over how such a deal should be valued.
LONDON (Reuters) – Britain’s economy grew faster than expected in the second quarter, benefiting from a broad-based pick-up in activity that looked to have put the country’s burgeoning recovery on a firmer footing.
Gross domestic product expanded 0.7 percent from the previous quarter, data from the Office for National Statistics showed on Friday, beating its initial estimate and economists’ forecasts and putting Britain’s growth rate on a par with European powerhouse Germany.
LONDON, Aug 15 (Reuters) – IAG, the owner of
British Airways and Iberia, has picked Airbus again
for the latest stage of its fleet modernisation, planning to
acquire up to 220 A320s worth $20 billion to renew and expand
its short-haul fleet.
The move is the latest major deal to be agreed between the
International Consolidated Airlines Group and Airbus, rather
than British Airways’ long-time partner Boeing, and
follows the arrival in London last month of its first Airbus
LONDON (Reuters) – Britain’s BT will launch its much heralded sports TV service on Thursday in the biggest challenge to the dominance of BSkyB since Rupert Murdoch launched the pay-TV group over 20 years ago.
The former telecoms monopoly, which has committed around 1 billion pounds ($1.5 billion) to the project, is stepping into an arena where others have failed, invariably outmaneuvered by BSkyB in the battle for programming and subscribers.
LONDON, July 31 (Reuters) – Demand from U.S. drinkers for
expensive whiskies and new spirits is helping Diageo to
offset slowing growth in some emerging markets, the world’s
biggest spirits maker said on Wednesday, echoing a trend seen
elsewhere in the luxury sector.
In its first set of results under new boss Ivan Menezes, the
maker of Johnnie Walker whisky and Guinness stout met forecasts
with an 8 percent rise in annual operating profit and stuck to
its medium-term growth targets.
LONDON/PARIS (Reuters) – A plan to merge Publicis PUB.PA and Omnicom (OMC.N: Quote, Profile, Research, Stock Buzz) into the world’s biggest advertising group has begun a scramble by rivals to poach their blue-chip clients worried the new agency might face conflicts of interest.
Without any defections, the Franco-U.S. giant would bring the accounts of major competitors in a number of industries such as Apple and Samsung, or Coca Cola and PepsiCo, under one roof.
LONDON (Reuters) – Martin Sorrell, head of world No. 1 ad group WPP, congratulated long-time rival Maurice Levy on persuading Omnicom to merge, adding that further consolidation was inevitable in the industry.
Sorrell was reacting to news that France’s Publicis and U.S. group Omnicom had agreed to combine in a deal that would catapult the world’s third- and second-largest advertising companies above UK-based WPP.
LONDON, July 26 (Reuters) – BSkyB plans to provide
more and cheaper ways to access its premium content and Internet
services to counter cash-rich rival BT’s offer of free
Premier League football to broadband customers.
The group, which has dominated pay-TV in Britain since
Rupert Murdoch launched it in 1989 and reaches 10 million homes,
said it would invest about 70 million pounds ($100 million) in
the next financial year to improve on-demand programming and
LONDON (Reuters) – Outgoing BT (BT.L: Quote, Profile, Research, Stock Buzz) boss Ian Livingston is set to leave on a high note after results that carried all the hallmarks of his five years at the telecom operator’s helm, with costs down, profits up and investment in place for the future.
His successor, head of retail Gavin Patterson, will step into the chief executive role with the company’s stock trading near a six-year high after a recovery from the two major profit warnings Livingston delivered at the start of his tenure.