Sinead's Feed
Feb 10, 2014

Vodafone may have $30 billion-$40 billion acquisition capacity: CEO

NEW YORK (Reuters) – Vodafone Group Plc could have the capacity to spend $30 billion to $40 billion on acquisitions in coming years and no deal should be too big if it makes strategic sense, Chief Executive Vittorio Colao said on Monday.

Colao told reporters he was exploring possibilities for big acquisitions on top of investments in Vodafone’s existing business after a $130 billion windfall it will get from an asset sale to Verizon Communications later this month.

Feb 10, 2014

Vodafone may have $30 bln-$40 bln acquisition capacity -CEO

NEW YORK, Feb 10 (Reuters) – Vodafone Group Plc
could have the capacity to spend $30 billion to $40 billion on
acquisitions in coming years and no deal should be too big if it
makes strategic sense, Chief Executive Vittorio Colao said on
Monday.

Colao told reporters he was exploring possibilities for big
acquisitions on top of investments in Vodafone’s existing
business after a $130 billion windfall it will get from an asset
sale to Verizon Communications later this month.

Feb 9, 2014

Chastened HTC turns to cheaper smartphones in search for profit

TAIPEI/NEW YORK, Feb 10 (Reuters) – Smarting from growing
losses, Taiwanese phone maker HTC Corp says it will
expand its range of cheaper products as it fixes off-target
marketing for its premium smartphones.

The company that has long prided itself as a purveyor of
upscale, feature-loaded products says it needs to sell more
mid-tier and affordable smartphones after losing out in 2013.
Muscled off-track by fast-growing Chinese rivals like Xiaomi Inc
as well as giants like Samsung Electronics Co and
Apple Inc, HTC is seeking to reverse a two-year sales
slump matched by an 80 percent drop in its share price.

Feb 6, 2014

Sprint, T-Mobile shares fall on dwindling hopes for merger

NEW YORK (Reuters) – Shares in Sprint Corp (S.N: Quote, Profile, Research, Stock Buzz) and T-Mobile US (TMUS.N: Quote, Profile, Research, Stock Buzz) fell sharply on Thursday as investor hopes for a merger of the No. 3 and No. 4 U.S. mobile service providers faded on concerns about regulatory opposition.

Both companies’ shares were boosted in late 2013 by reports that SoftBank Corp (9984.T: Quote, Profile, Research, Stock Buzz), the owner of 80 percent of Sprint, was considering buying T-Mobile from its majority owner, Deutsche Telekom (DTEGn.DE: Quote, Profile, Research, Stock Buzz), to merge both companies.

Feb 4, 2014

Elliott readies own director slate as Juniper finalizes turnaround plan -sources

NEW YORK, Feb 3 (Reuters) – Hedge fund Elliott Management
Corp, which owns a 6.2 percent stake in Juniper Networks Inc
, has prepared a slate of directors in the event that
the network equipment maker’s pending turnaround plan does not
achieve goals laid out by the activist investor, people close to
the matter said.

Elliott, which in January urged Juniper to return cash to
investors, consider cutting costs and conduct a strategic review
of its product portfolio, said in a statement on Monday that it
has recruited a team of leading executives who have the
“operational skills” and “deep industry experience” to make its
plan a reality.

Feb 4, 2014

FCC chief tells Sprint chair he is skeptical on T-Mobile deal

By Alina Selyukh and Sinead Carew

(Reuters) – Federal Communications Commission Chairman Tom Wheeler expressed his skepticism about a potential merger between Sprint Corp (S.N: Quote, Profile, Research, Stock Buzz) and T-Mobile US Inc (TMUS.N: Quote, Profile, Research, Stock Buzz) in a meeting with Sprint Chairman Masayoshi Son on Monday, according to an FCC official briefed on the matter.

Son, chief executive at Tokyo-based SoftBank Corp (9984.T: Quote, Profile, Research, Stock Buzz), which acquired Sprint last year, met with the top U.S. telecommunications regulator alongside Sprint Chief Executive Dan Hesse.

Feb 3, 2014

Investors flee telecom on price-war fears after AT&T price cut

By Sinead Carew and Sruthi Ramakrishnan

(Reuters) – Shares in U.S. mobile operators fell sharply on Monday after a AT&T Inc price cut fueled fears from investors that market leader Verizon Wireless and other rivals would have to react.

AT&T shares closed down 4 percent a day after the No. 2 U.S. mobile services provider slashed the monthly fee for a data plan from $40 to $15.

Jan 29, 2014

AT&T disappoints on cash flow target, subscriber growth

NEW YORK, Jan 28 (Reuters) – AT&T Inc’s fourth quarter
wireless subscriber growth and its free cash flow target lagged
well behind analyst estimates, sending its shares down 2 percent
in late trade on Tuesday.

Chief Executive Randall Stephenson also told investors on
the company’s conference call that a U.S. spying scandal was
hurting its business irrespective of any effect it could have on
prospects for overseas acquisitions.

Jan 28, 2014

Vodafone, Verizon investors back $130 billion Verizon Wireless deal

LONDON/NEW YORK (Reuters) – Shareholders of both Vodafone (VOD.L: Quote, Profile, Research, Stock Buzz) and Verizon Communications Inc (VZ.N: Quote, Profile, Research, Stock Buzz) approved Verizon’s $130 billion takeover of their Verizon Wireless venture on Tuesday, paving the way for the third biggest deal in corporate history.

Vodafone shareholders voted for one of the biggest payouts ever as 71 percent of the deal’s net proceeds – or $84 billion including stock – will be returned to Vodafone shareholders from the sale of Vodafone’s 45 percent interest in Verizon Wireless to majority owner Verizon.

Jan 23, 2014

Sprint eyes job cuts, fourth-quarter $165 million charge

NEW YORK (Reuters) – Sprint Corp (S.N: Quote, Profile, Research, Stock Buzz) said on Thursday it would report a fourth-quarter charge of $165 million for severance and related items as a result of job cuts it is making across the company to reduce costs.

The No. 3 U.S. mobile operator, which is 80 percent owned by Japan’s SoftBank Corp (9984.T: Quote, Profile, Research, Stock Buzz), said it also expected more material charges in future periods associated with a workforce reduction plan that would include management and non-management positions throughout the company.

    • About Sinead

      "Sinead is a telecommunications industry correspondent. Her coverage area spans U.S. service providers, cellphone makers and chip makers. Before joining Reuters in 2002, she covered technology and telecoms for various trade publications."
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