Tue, Feb. 9, 11:49 AM
- Turkcell (TKC -1.5%) is going forward with an effort to buy out partner TeliaSonera (OTCPK:TLSNY +1.3%) in their Fintur Eurasian joint venture, its CEO says.
- The company has a non-binding bid in and will follow with a another offer after it completes due diligence, says CEO Kaan Terzioglu. TeliaSonera owns the other 58.55% of the venture, which owns operators in Azerbaijan, Georgia, Kazakhstan and Moldova.
- Meanwhile, despite tough timing on the sale, TeliaSonera says "Several parties are interested in our holdings in Fintur and one of them is Turkcell."
- As much as TeliaSonera is interested in getting out of the region, Turkcell has been pursuing more cross-border expansion after the end of a long boardroom deadlock broken by regulators.
- Previously: TeliaSonera facing tough economic timing on Eurasian sale (Jan. 29 2016)
- Previously: RenCap: Turkey may be best bet for emerging telecom growth, dividends (Jan. 04 2016)
Oct. 19, 2015, 11:26 AM
- With some new interest from suitors, Sweden's TeliaSonera (OTCPK:TLSNY -0.4%) has brought back a plan to sell its Spanish mobile unit Yoigo in a deal that could bring €500M (about $567M), Bloomberg reports.
- Spain's Másmovil Ibercom is showing interest, as well as private-equity firms, sources said.
- TeliaSonera took Yoigo off the market in 2012, disappointed with the bids received (said to have hit more than €700M at the time, with Vodafone ).
- Meanwhile, Másmovil has stepped up its presence, taking advantage of a required Orange divestment to buy Jazztel broadband assets in August.
- TeliaSonera owns about 77% of Yoigo.
- Previously: Orange to sell Jazztel broadband assets to Másmovil (Aug. 11 2015)
- Previously: Virgin Group may get into Spain wireless with Yoigo buy (Jun. 12 2015)
Sep. 11, 2015, 11:41 AM
- Sweden's TeliaSonera (OTCPK:TLSNY +0.1%) and Norway's Telenor (OTCPK:TELNY -1.7%) have abandoned a merger of operations in Denmark amid strict opposition from EU regulators -- the first such opposition after a couple of years of mobile consolidation.
- That consolidation happened under then-Competition Commissioner Joaquin Almunia, who was succeeded by Margrethe Vestager last November.
- "What we were looking at were very serious concerns," said Vestager about the Danish market. "To me it was necessary to have a fourth mobile operator." She said there shouldn't be conclusions drawn about the UK and Italy, however, where similar deals could reduce the number of national operators to three each.
- TeliaSonera and Telenor faced a relatively easier tie-up in Denmark operationally, as the two already share a network, but also thus had fewer options for divestment to satisfy regulators.
- Shares in Danish market leader TDC fell 7.7% in Copenhagen, and are down 8.2% in OTC trading (OTCPK:TDCAF).
Jun. 22, 2015, 12:13 PM
- With consolidation in the air, telecom players are trading significantly higher today Europe-wide.
- Telefonica (TEF +4.5%), Telecom Italia (TI +1.9%), Orange (ORAN +8.2%), Vodafone (VOD +1.8%), KPN (OTCPK:KKPNY +5.5%), Deutsche Telekom (OTCQX:DTEGY +5.4%), Belgacom (OTCPK:BGAOY +2.7%), TeliaSonera (OTCPK:TLSNY +1.9%) and Pharol (OTCPK:PTGCY +8.5%) are all among firms getting a punch up today.
- The richness of the proposed deal by Numericable-SFR (Altice, OTC:ATCEY) for Bouygues Telecom (OTCPK:BOUYY) -- at €10B, it suggests one of the highest regional industry EBITDA multiples (14.4x) in years -- may be lifting firms in a consolidation-friendly atmosphere, even with the hurdles this deal has to overcome.
- French regulators have gone on the record against the deal, calling for investment: “Consolidation isn’t advisable for the sector,” says econ minister Emmanuel Macron. “Employment, investment and giving customers the best possible service should be the priority.”
- In addition, a reluctant Martin Bouygues would need to be convinced to change his mind and sell.
- Previously: Altice confirms Bouygues Telecom bid (Jun. 22 2015)
Jun. 12, 2015, 9:01 AM
- Virgin Group, looking for a a way into Spain's telecom market, is poking around buying mobile firm Yoigo from TeliaSonera (OTCPK:TLSNY).
- It would be a second go-round for a sale of Yoigo, as a first pass two years ago failed to draw big enough bids. Vodafone, a buyer at that time, entered via a purchase of cable operator Ono.
- Even now Yoigo may draw less than Ono, or Jazztel (OTCPK:JAZTF) in its recent sale to Orange. In 2013 it was expected to go for about €1B.