Victoria's Feed
Sep 2, 2011

Anti-trust shadow looms over European telco deals

LONDON, Sept 2 (Reuters) – The block on AT&T’s (T.N: Quote, Profile, Research, Stock Buzz) $39
billion purchase of T-Mobile USA is a grim reminder of the need
to do anti-trust homework on deals in mature, slow growth
telecoms markets and could put some European players off their
takeover plans.

U.S. regulators said the combination of No.2 US wireless
provider AT&T with Deutsche Telekom’s (DTEGn.DE: Quote, Profile, Research, Stock Buzz) T-Mobile was
anti-competitive and could cause wireless prices to rise because
it would reduce the number of large players from four to three.
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Aug 31, 2011

Bankers may lose big if AT&T deal collapses

LONDON/NEW YORK, Aug 31 (Reuters) – U.S. antitrust
regulators may have dealt a body blow to an already fragile
mergers and acquisitions market with their decision to block
AT&T Inc’s (T.N: Quote, Profile, Research, Stock Buzz) $39 billion deal to buy T-Mobile USA.

For AT&T and T-Mobile’s advisers, the immediate cost if the
deal collapses would be about $150 million in fees.

Aug 31, 2011

AT&T, T-Mobile banks could lose $150 million in fees

LONDON (Reuters) – Advisers to AT&T and Deutsche Telekom’s T-Mobile USA stand to lose $150 million in fees if the $39 billion deal collapses in what would be a massive blow to the increasingly fragile deals market.

The U.S. government has sued to block the bid, the largest since miner BHP Billiton’s $43.2 billion offer for Potash was withdrawn, also in the face of political opposition, a year ago.

Aug 19, 2011

Dealtalk: RBS insurance disposal still a tough sell

LONDON (Reuters) – Royal Bank of Scotland Group Plc (RBS.L: Quote, Profile, Research, Stock Buzz) will struggle to fetch a good price for its insurance arm despite a dramatic turnaround at the unit, with grim market conditions, scarce capital and memories of earlier failed sale attempts conspiring to deter buyers.

RBS Insurance (RBSI)), Britain’s No. 1 motor insurer trading under the Direct Line and Churchill brands, is up for sale to appease regulators irked by RBS’s bailout during the credit crisis and analysts put its value at about 4 billion pounds ($6.6 billion).

Aug 12, 2011

Crisis could cost Europe $2 bln in M&A fees

LONDON, Aug 12 (Reuters) – Shadows that started to fall over
the pitch books of European dealmakers in the second quarter are
darkening, threatening to rob banks of a few billion dollars in
potential M&A fees.

As rumours swirled this week about a French downgrade and
riots spread across British cities, bankers said European M&A
would probably only equal last year’s mediocre performance if
turmoil continued in September.

Aug 12, 2011

Dealtalk: Crisis could cost Europe $2 billion in M&A fees

LONDON (Reuters) – Shadows that started to fall over the pitch books of European dealmakers in the second quarter are darkening, threatening to rob banks of a few billion dollars in potential M&A fees.

As rumors swirled this week about a French downgrade and riots spread across British cities, bankers said European M&A would probably only equal last year’s mediocre performance if turmoil continued in September.

Aug 8, 2011

Private equity circling Orange Switzerland -sources

LONDON/PARIS, Aug 8 (Reuters) – Private equity firms are
likely to dominate the auction for France Telecom’s
Swiss business, with Apax, EQT and Providence among those
expected to take a look at the asset, banking sources said on
Monday.

Analysts have said that the business, known as Orange
Switzerland, could sell for around 1.5 billion euros. France
Telecom has said it would return at least half of the proceeds
to shareholders.

Aug 8, 2011

Dealtalk: Market volatility could lower Charter bid price

LONDON (Reuters) – A sharp drop in Charter International’s (CHTR.L: Quote, Profile, Research, Stock Buzz) share price over the past week is adding to pressure for it to accept a bid from Melrose MYN.L at a price close to or even below the manufacturing buyout firm’s sweetened offer.

Shares in the British industrial toolmaker fell nearly 15 percent last week, touching a low of 616.5 pence on Friday — a level the company traded at before the Melrose offer was made public in June — and far below the latest bid of 840 pence.

Aug 8, 2011

Market volatility could lower Charter bid price

LONDON, Aug 8 (Reuters) – A sharp drop in Charter
International’s share price over the past week is
adding to pressure for it to accept a bid from Melrose
at a price close to or even below the manufacturing buyout
firm’s sweetened offer.

Shares in the British industrial toolmaker fell nearly 15
percent last week, touching a low of 616.5 pence on Friday — a
level the company traded at before the Melrose offer was made
public in June — and far below the latest bid of 840 pence.

Aug 2, 2011

DealTalk: Charter deal seen closer as shareholders speak out

LONDON (Reuters) – Manufacturing buyout firm Melrose MYN.L need only raise its takeover offer slightly to gain access to the books of reluctant target Charter International (CHTR.L: Quote, Profile, Research, Stock Buzz), bankers, shareholders and analysts said on Tuesday.

Some of Charter’s shareholders — such as Aviva Investors, the asset management arm of insurer Aviva (AV.L: Quote, Profile, Research, Stock Buzz) — have already spoken out publicly that the British engineer should allow Melrose to look at its books.