Jan. 3, 2014, 4:30 AM
- Vodafone (VOD) is in reportedly early discussions to acquire Tata Group's 59.45% stake in Tata Teleservices in a deal that would create India's largest telco with 248M subscribers.
- However, Japan's NTT DoCoMo (DCM), which owns just over a quarter Tata Teleservices, has a right of first refusal on the majority holding.
- Should Vodafone prevail, it would look to acquire all of Tata Teleservices, whose market cap is 16.28B rupees ($261M).
- Meanwhile, Vodafone Egypt has been accused of inciting terrorism by incorporating secret messages supporting the Muslim Brotherhood in an advertisement.
- Vodafone has denied the allegations, which Egyptian prosecutors are investigating amid an intensifying crackdown on the Muslim Brotherhood by the military government that deposed it.
- The accusations add another headache for multinationals that operate in Egypt to go with political instability, security worries and economic uncertainty.
Oct. 31, 2012, 8:37 AMSpectra Energy (SE) agrees to acquire a one-third interest in the Sand Hills and Southern Hills pipelines now under construction by DCP Midstream (DCM). SE, Phillips 66 (PSX) and DCM each would own a one-third interest in the pipelines and will equally fund the remaining capital expenditures through completion. SE's total investment in the two projects is expected at $700M-$800M. | Comment!
May 14, 2012, 2:32 PMNTT DoCoMo's (DCM) German subsidiary is spending $300M to acquire Buongiorno, an Italian mobile content provider that posted 2011 sales of $295M. Buongiorno, whose offerings include games, ringtones, and mobile payment services, claims its products are used by ~2B customers in 57 countries. DoCoMo has tried hard to gain a following for its i-mode mobile data platform in Europe, but with only modest success. | Comment!
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