Jul. 7, 2015, 9:53 AM
- A continuing rout in China is pressing the country's mobile providers.
- In U.S. trade, China Telecom (NYSE:CHA) is off 5.6%; China Unicom (NYSE:CHU) down 4.9% and China Mobile (NYSE:CHL) down 2.9%.
- Hong Kong's PCCW (OTCPK:PCCWY) is off 6.2% in over-the-counter trading as well.
- The Shanghai Composite is back to a selloff despite a rash of support measures from Beijing. Several hundred companies have taken the risky move of filing for a trading halt in Shanghai and Shenzhen in an attempt to escape the downdraft.
Apr. 6, 2015, 2:41 PM
- Vivendi (OTCPK:VIVHY) is offering €250M to Orange (NYSE:ORAN) for most of video-sharing site Dailymotion, according to Le Monde, and Orange's board will meet Tuesday to discuss the bid.
- Orange has been looking for an international partner, and entered into exclusive talks with Hong Kong's PCCW (OTCPK:PCCWY), but PCCW ended those talks as the French government made clear it would prefer a European partner.
- France, which is Orange's biggest shareholder, came in to oppose the 2013 deal where Orange would sell a stake to Yahoo.
- Previously: France may get double votes at Orange in 2016 (Apr. 06 2015)
- Previously: French econ minister: Orange should hear all comers for Dailymotion (Apr. 02 2015)
- Previously: Vivendi fight: Bolloré raises stake again, to 12% (Apr. 02 2015)
Apr. 2, 2015, 10:49 AM
- French telecom Orange (NYSE:ORAN) needs to look at all offers as it seeks to sell a Dailymotion stake, says France's Economy Minister Emmanuel Macron.
- Orange entered exclusive talks with Hong Kong's PCCW (OTCPK:PCCWY) and is reportedly entertaining an offer that values the video site at €250M.
- Macron says he's not opposed to a deal with PCCW, but: "What I said was: 'Should we enter into exclusive negotiations?' The answer is no. We should look at all the offers."
- France takes a heavy hand in foreign investment into French operations, and considers Dailymotion a "jewel." The country killed a Dailymotion stake sale to Yahoo in 2013 over such concerns, and is likely to favor a European partner.
- France is the biggest shareholder in Orange, at about 25%.
- Previously: WSJ: Orange in exclusive talks to sell Dailymotion stake (Mar. 13 2015)
Apr. 2, 2015, 9:15 AM
- Government licensing action is moving TV stocks in Hong Kong, as PCCW (OTCPK:PCCWY) moved up as much as 8.6% in regional trading after the government gave it a 12-year free-to-air broadcast license.
- The move comes after the city had been left with just one such broadcaster as the government shut down the license of Asia Television, Hong Kong's oldest TV station.
- HKTV had risen almost 30% in U.S. trading Tuesday on expectations it was stepping in to save the nearly bankrupt ATV, but gave back gains yesterday, -21.2%, as the company denied those reports. HKTV was down 12.5% in Hong Kong trading Thursday.
- I-Cable Communications (OTCPK:ICABY) is awaiting word on its OTA license and moved up more than 4% in Hong Kong on positive hopes there.
Mar. 13, 2015, 12:40 PM
- Having not succeeded at first (or second), Orange (ORAN -1.8%) is trying again to sell a stake of about 49% in video site Dailymotion -- this time through exclusive talks with Hong Kong telecom PCCW (OTCPK:PCCWY).
- PCCW's made an offer valuing Dailymotion at €250M ($264.5M), a source tells The Wall Street Journal.
- The goal would be expansion, an area in which France-based Dailymotion hasn't kept up with competitors like YouTube. The French government, which killed a 2013 stake sale to Yahoo, may now be more open to foreign investment.