The following bids, mergers, acquisitions and disposals were reported on Friday. The following bids, mergers, acquisitions and disposals were reported on Friday:- Healthcare conglomerate Danaher Corp has teamed up with Blackstone Group LP BX.
Tags: Telecom Italia
Telecom Italia says it tells regulators no bids received for Brazil business
Italy-based Telecom Italia told regulators that it did not get any offers for its unit in Brazil and that it intends to keep the unit. The company issued the statement in response to a request from an Italian regulator regarding Telecom Italia's plans for its Brazilian business.
Telecom Italia taps Morgan Stanley in tower lot sale - sources
According to sources who were familiar with the deliberations, Telecom Italia SpA obtained the services of Morgan Stanley to decide on the telecommunications company's divestment of its 7,000 tower lot in Brazil.
Top deals of the Day - Bids, Mergers and Acquisitions
The following bids, mergers, acquisitions and disposals were reported on Wednesday including Telefonica Deutschland, Devon Energy, Metro AG, Devon Energy Corp and others
Telecom Italia aims to sell Italy, Brazil towers next year
Telecom Italia expects to conclude the sale and lease back of its mobile towers in Italy and Brazil next year, its chief executive said on Wednesday, along with a separate sale of some digital broadcasting assets.
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The assets it owns in Argentina as well as towers in Italy and Brazil are but some of the assets seeking Telecom Italia seeks to unload.
Telecom Italia, a company considered strategic in the Italian political spectrum, is undergoing a change in leadership.
Due to the loss of support from the largest shareholders of Telecom Italia, CEO Franco Bernabe is planning to submit his resignation on October 3.
Telefonica seeks to retain control over Telecom Italia through buyout of venture partners in Telco. Telefonica, the telecommunications group from Spain, had formalized a deal to secure control of Telecom Italia without the need to launch a full takeover.
Spanish telecoms group Telefonica had agreed on Tuesday to increase its stake in Telco, of which the latter is the controlling shareholder of Telecom Italia, via cash-and-share deals.
A government source had told Reuters that Italy would not be intervening on possible takeovers in Telecom Italia and Alitalia.
In order to save the debt of Telecom Italia from being downgraded to junk status, a future with Telefonica SA seems to be the best option available for the Italian telecommunications firm.
Mediobanca, one of the shareholders in Telco SpA who is the majority shareholder in Telecom Italia SpA, announced the cut in its stake in the holdings company, lowering the value of the shares of the telecommunications firm.
The cancellation of the Telecom Italia board meeting buys the firm more time to plan out ways to revitalize its flagging business.
