UK media and telecoms correspondent
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Apr 30, 2013

Unilever offers $5.4 billion to raise HUL stake; stock soars

MUMBAI/LONDON (Reuters) – Unilever plans to pay up to $5.4 billion to raise its stake in its Indian subsidiary, making its biggest deal in 13 years a huge bet on the strength of demand for personal care and food products in Asia’s third-largest economy.

The Anglo-Dutch giant said it planned to lift its share in Hindustan Unilever(HLL.NS: Quote, Profile, Research), India’s largest consumer goods maker, known for its Dove and Lipton brands, to as much as 75 percent from 52 at present.

Apr 30, 2013

Unilever places $5 bln bet on Indian growth

MUMBAI/LONDON, April 30 (Reuters) – Unilever
plans to pay up to $5.4 billion to raise its stake in
its Indian subsidiary, making its biggest deal in 13 years a
huge bet on the strength of demand for personal care and food
products in Asia’s third-largest economy.

The Anglo-Dutch giant said it planned to lift its share in
Hindustan Unilever, India’s largest consumer goods
maker, known for its Dove and Lipton brands, to as much as 75
percent from 52 at present.

Apr 25, 2013

Verizon eyes roughly $100 bln bid for Vodafone’s wireless stake

NEW YORK/LONDON, April 25 (Reuters) – Verizon Communications
Inc has hired advisers to prepare a possible $100 billion
bid to take full control of Verizon Wireless from its partner
Vodafone Group Plc, two people familiar with the matter
said.

Verizon is contemplating a roughly 50:50 cash and stock bid
for the 45 percent stake in Verizon Wireless it does not already
own, an asset it has long coveted, the sources said. It has not
put a proposal to Vodafone yet but has hired banking and legal
advisers for a possible offer, the sources said late Wednesday.

Apr 25, 2013

Exclusive: Verizon eyes $100 billion bid for Vodafone’s Wireless stake

NEW YORK/LONDON (Reuters) – Verizon Communications has hired advisers to prepare a possible $100 billion bid to take full control of Verizon Wireless from its partner Vodafone, two people familiar with the matter said.

The two sources said Verizon was considering a 50:50 cash and stock bid for the 45 percent stake it does not already own, an asset it has long coveted but that Vodafone will take some persuading to give up. It has not put a proposal to Vodafone yet but has hired both banking and legal advisers for a possible offer, the sources said.

Apr 25, 2013

Verizon eyes $100 bln bid for Vodafone’s Wireless stake

NEW YORK/LONDON, April 25 (Reuters) – Verizon Communications
has hired advisers to prepare a possible $100 billion bid
to take full control of Verizon Wireless from its partner
Vodafone, two people familiar with the matter said.

The two sources said Verizon was considering a 50:50 cash
and stock bid for the 45 percent stake it does not already own,
an asset it has long coveted but that Vodafone will take some
persuading to give up. It has not put a proposal to Vodafone yet
but has hired both banking and legal advisers for a possible
offer, the sources said.

Apr 23, 2013

Publicis to consider cash return by year end

LONDON (Reuters) – Advertising group Publicis could return cash to shareholders this year via a share buyback or special dividend by sticking to a plan of only making small acquisitions, its chief executive said.

Speaking to Reuters during an investor event eight days after a trading update rattled the market, Maurice Levy said he was confident shareholders would keep faith in the French group’s ability to improve as the year goes on.

Apr 23, 2013

EE’s 4G headstart fails to stem service revenue fall

LONDON, April 23 (Reuters) – EE, Britain’s biggest mobile
operator, posted a fall in first- quarter service revenue as the
addition of 318,000 customers to its new superfast 4G service
failed to offset a fall in its wider subscriber base.

EE, giving 4G subscriber numbers for the first time since it
stole a march on rivals by being first into the market, said
customer loyalty overall remained strong and the amount each
user was paying had increased year-on-year.

Apr 18, 2013

Vodafone moves towards US-style pricing model

LONDON, April 18 (Reuters) – Vodafone unveiled a
raft of changes to its pricing model on Thursday, moving more
towards an American-style system to help protect its income from
technologies offering rival services over the Internet.

The changes are designed to deter customers from choosing
popular “over-the-top” services such as Skype, What’s App and
Viber to message friends for free.

Apr 17, 2013

Tesco quits U.S. and takes $3.5 bln global writedown

LONDON, April 17 (Reuters) – Britain’s biggest retailer,
Tesco, wrote down the value of its global operations by
$3.5 billion and announced plans to exit the United States, as
it sought to rebuild after a year in which profit fell for the
first time in two decades.

The group, the world’s third largest retailer after Wal-Mart
and Carrefour, said on Wednesday abandoning
loss-making Fresh & Easy in the U.S. would mean restructuring
and other one-off costs of 1 billion pounds ($1.5 billion).

Apr 17, 2013

Tesco quits U.S. as profits fall for first time in 20 years

LONDON (Reuters) – Tesco, Britain’s biggest retailer, will exit its loss-making business in the United States, taking a $1.5 billion writeoff that caused its annual profit to fall for the first time in 20 years.

The group also wrote down the value of its property in Britain by 800 million pounds and its businesses in Poland, Czech Republic and Turkey by half a billion pounds and said growth in its core home market had slowed despite huge investment.

    • About Kate

      "I am based in London and cover the UK media and telecoms sectors including BSkyB, Vodafone and WPP. I have previously covered UK general news and sports including major events such as the Olympics and football World Cups."
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