UK media and telecoms correspondent
Kate's Feed
Oct 8, 2013

Aston Martin scraps Cygnet city car after dire sales

LONDON (Reuters) – Aston Martin ASTON.UL has abandoned its attempt to tap into the popularity of so-called city cars after selling fewer than 150 of its “Cygnet” model, an embarrassing blow to the struggling 100-year-old British luxury sports car maker.

A source close to Aston Martin said its two-door Cygnet, which started production in 2011 based on the Toyota 77203.T iQ but was marketed at three times the price, had been dropped from the company’s line-up after dismal sales of the 32,000 pound ($51,500) vehicle.

Oct 8, 2013

Vodafone plans to boost stake in Indian unit – source

LONDON/NEW DELHI, Oct 8 (Reuters) – Vodafone intends
to increase its stake in its Indian subsidiary after the country
cleared foreign companies to take full ownership of local
carriers, a source familiar with the group’s plans said on
Monday.

The British company is set to seek approval in the coming
weeks from the Indian government’s Foreign Investment Promotion
Board to buy stakes from minority partners, the source said,
adding that it has yet to decide if it will buy out all
partners.

Sep 3, 2013

Verizon, Vodafone agree to $130 billion Wireless deal

LONDON/SAN DIEGO (Reuters) – Verizon Communications agreed on Monday to pay $130 billion to buy Vodafone Group out of its U.S. wireless business, signing history’s third largest corporate deal announcement to bring an end to an often tense 14-year marriage.

The deal in cash and stock will give Verizon full access to the profits from the United States’ largest mobile operator, handing it fresh firepower to invest in its mobile network and fend off challengers in a tough market that is fast becoming even more competitive.

Sep 2, 2013

Verizon and Vodafone agree $130 bln Wireless deal

LONDON/SAN DIEGO, Sept 2 (Reuters) – Verizon Communications
agreed on Monday to pay $130 billion to buy Vodafone
out of its U.S. wireless business, signing history’s
third largest corporate deal to bring an end to an often
fractious 14-year marriage.

The two firms said Vodafone would get $58.9 billion in cash,
$60.2 billion in Verizon stock, and an additional $11 billion
from smaller transactions in a deal that is due to close in the
first quarter of next year.

Sep 2, 2013

Vittorio Colao caps Vodafone revamp with U.S. megadeal

PARIS/LONDON (Reuters) – Vittorio Colao, the urbane Italian boss of Vodafone (VOD.L: Quote, Profile, Research, Stock Buzz), believes that negotiating major deals is an art whose finest practitioners know how to wield power and resist pressure.

The 51-year-old chief executive, who cut his teeth as a management consultant at McKinsey, used these lessons at the negotiating table to do what his predecessors could not: outlast Verizon Communications (VZ.N: Quote, Profile, Research, Stock Buzz) in a test of will over the biggest U.S. mobile provider, Verizon Wireless.

Sep 2, 2013

Verizon and Vodafone agree $130 bln Verizon Wireless deal

LONDON/NEW YORK, Sept 2 (Reuters) – Verizon Communications
agreed on Monday to pay $130 billion to buy Vodafone
out of its U.S. wireless business, signing history’s
third largest corporate deal to bring an end to a decade-long
corporate stand-off.

The two firms said Vodafone would get $58.9 billion in cash,
$60.2 billion in Verizon stock, and an additional $11 billion
from smaller transactions that would take the total deal value
to $130 billion.

Sep 2, 2013

Verizon poised for historic $130 billion Vodafone deal

LONDON, Sept 2 (Reuters) – Verizon Communications was
poised on Monday to finally take full control of its U.S.
wireless business with a $130 billion deal that would buy out
Vodafone and bring an end to a decade-long corporate
standoff.

The British firm said late on Sunday it was in advanced
talks with Verizon to sell its 45 percent stake in the Verizon
Wireless joint venture for cash and common shares in what would
be the world’s third-largest deal of all time.

Sep 2, 2013

Verizon, Vodafone to announce $130 billion U.S. deal

NEW YORK/LONDON (Reuters) – Verizon Communications and Vodafone plan to announce a $130 billion deal on Monday that will give the U.S. telecom giant complete control of Verizon Wireless, subject to final board approval, people familiar with the matter said.

Vodafone said in a statement late on Sunday it was in advanced talks with Verizon to sell its 45 percent stake in the joint venture for $130 billion, comprising cash and common shares, but that there was no certainty an agreement would be reached.

Sep 1, 2013

Verizon, Vodafone to announce $130 billion U.S. deal on Monday

NEW YORK/LONDON (Reuters) – Verizon Communications and Vodafone plan to announce a $130 billion (83.7 billion pounds) deal on Monday that will give the U.S. telecom giant complete control of Verizon Wireless, subject to final board approval, people familiar with the matter said.

Vodafone said in a statement late on Sunday it was in advanced talks with Verizon to sell its 45 percent stake in the joint venture for $130 billion, comprising cash and common shares, but that there was no certainty an agreement would be reached.

Sep 1, 2013

Verizon, Vodafone to announce $130 bln US deal on Monday

NEW YORK/LONDON, Sept 1 (Reuters) – Verizon Communications
and Vodafone plan to announce a $130 billion deal
on Monday that will give the U.S. telecom giant complete control
of Verizon Wireless, subject to final board approval, people
familiar with the matter said.

Vodafone said in a statement late on Sunday it was in
advanced talks with Verizon to sell its 45 percent stake in the
joint venture for $130 billion, comprising cash and common
shares, but that there was no certainty an agreement would be
reached.

    • 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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