Integrated Telecommunications Services

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Portugal Telecom SGPS SA and Oi SA announce agreement on terms to proceed with business combination

Monday, 28 Jul 2014 05:16pm EDT

Portugal Telecom SGPS SA (PT SGPS) and Oi SA:Announce that they have reached an agreement on the final terms of the key contracts following the Memorandum of Understanding (MOU) announced on July 16.The documentation establishes that PT SGPS will exchange with Oi the 897 million euros treasury applications in Rio Forte Investments SA (Rioforte debt) for 474,348,720 Oi ON shares plus 948,697,440 Oi PN shares (the Oi Call Shares).PT SGPS will be granted a non-transferable American-type call (Call) to repurchase the Oi Call Shares (strike prices of 2.0104 Brazilian reais ON and 1.8529 reais PN), which will be adjusted by the Brazilian CDI rate plus 1.5 pct per year.The Call on the Oi Call Shares will become effective on the date of the Exchange, will have a 6-year maturity, and the Oi Call Shares that PT SGPS has the right to call will be reduced by 10 pct at the end of the first year and by 18 pct per year thereafter.Any proceeds received as a result of a monetization of the Call through the issuance of derivatives or back to back instruments must be used to exercise the Call.PT SGPS can only acquire Oi or CorpCo shares through the exercise of the Call.

NTELOS Holdings Corp reiterates FY 2014 EBITDA guidance

Monday, 28 Jul 2014 06:10am EDT

NTELOS Holdings Corp:Reiterates its FY 2014 adjusted EBITDA guidance of between $128.0 and $135.0 million.FY 2014 EBITDA of $130.6 mln - Thomson Reuters I/B/E/S.

NTELOS Holdings Corp announces management change

Monday, 28 Jul 2014 06:00am EDT

NTELOS Holdings Corp:Says its Board of Directors has accepted the resignation of James A. Hyde as Chief Executive Officer, President and member of the Board, effective immediately.Appoints Rodney D. Dir, a director, as President and Chief Operating Officer.

Tellza Communications Inc gives H2 2014 profit guidance

Friday, 25 Jul 2014 05:01pm EDT

Tellza Communications Inc:Expects profits to grow in H2 2014, as routedynamix (SMS platform) commercializes and it complete the migration of networks across all of portfolio businesses.

EI Towers SpA confirms FY 2014 guidance

Thursday, 24 Jul 2014 11:38am EDT

EI Towers SpA:Says the economic-financial guidance for FY 2014 already disclosed to the market can be confirmed.Expects the achievement of an EBITDA close to 110 mln euros for FY 2014.FY 2014 EBITDA at 109.73 mln euros-Thomson Reuters I/B/E/S.

Altice acquires 34.6% stake in Numericable from Carlyle & Cinven

Thursday, 24 Jul 2014 11:33am EDT

Altice SA:Says its wholly-owned subsidiary, Altice France SA, is acquiring a 34.6 pct stake in Numericable Group from Carlyle Cable Investments SC ("Carlyle") and CCI (F3) Sarl ("Cinven").First portion, representing about 20.6 pct of Numericable shares out of the 34.6 pct purchased, will be financed by the issuance of 24,751,873 new ordinary shares by Altice SA.Listing of shares on Euronext Amsterdam expected on July 25.New ordinary shares of 0.01 euro in Altice will be subscribed for by Carlyle and Cinven in exchange for the contribution in kind to Altice of, in aggregate, 25,517,396 shares in Numericable.This represents stake of 20.6 pct in Numericable, which Altice SA will transfer on same date to Altice France.Remaining portion, representing 14 pct of Numericable shares out of the 34.6 pct purchased, will be settled in cash by Altice France by Jan. 31, 2015.Altice France's stake in share capital of Numericable increases from 40 pct to 74.6 pct.These transactions terminate the shareholders` agreement entered into between Altice France, Carlyle and Cinven, in place since the initial public offering of Numericable.

Altice acquires 34.6% stake in Numericable from Carlyle & Cinven

Thursday, 24 Jul 2014 11:33am EDT

Altice SA:Says its wholly-owned subsidiary, Altice France SA, is acquiring a 34.6 pct stake in Numericable Group from Carlyle Cable Investments SC ("Carlyle") and CCI (F3) Sarl ("Cinven").First portion, representing about 20.6 pct of Numericable shares out of the 34.6 pct purchased, will be financed by the issuance of 24,751,873 new ordinary shares by Altice SA.Listing of shares on Euronext Amsterdam expected on July 25.New ordinary shares of 0.01 euro in Altice will be subscribed for by Carlyle and Cinven in exchange for the contribution in kind to Altice of, in aggregate, 25,517,396 shares in Numericable.This represents stake of 20.6 pct in Numericable, which Altice SA will transfer on same date to Altice France.Remaining portion, representing 14 pct of Numericable shares out of the 34.6 pct purchased, will be settled in cash by Altice France by Jan. 31, 2015.Altice France's stake in share capital of Numericable increases from 40 pct to 74.6 pct.These transactions terminate the shareholders` agreement entered into between Altice France, Carlyle and Cinven, in place since the initial public offering of Numericable.

Standard and Poors Ratings Services upgrades Turk Telekomunikasyon AS's credit rating

Thursday, 24 Jul 2014 07:22am EDT

Turk Telekomunikasyon AS:Says Standard and Poors Ratings Services, (S&P), has upgraded its long-term foreign credit rating from BB+ to BBB-, with a negative outlook.Says S&P also upgraded the Company's long-term senior unsecured debt rating from BB+ to BBB-.

Magyar Telekom Tavkozlesi Nyrt reaches agreement with trade unions

Thursday, 24 Jul 2014 03:30am EDT

Magyar Telekom Tavkozlesi Nyrt:Announces that it has reached an agreement with the trade unions on its headcount reduction and wage increase measures for FY 2015/2016.Says according to the terms of the agreement, the company plans to make maximum 1700 employees redundant.Says 40 per cent is expected to leave the company between Oct. 1 and March 1, 2015 while the remaining 60 per cent is expected to leave as of Jan. 1, 2016.

Xtranet names Mats Ferm new CEO

Thursday, 24 Jul 2014 03:24am EDT

Xtranet Gruppen i Stockholm publ AB:Names Mats Ferm new Chief Executive (CEO).Says Ferm has been previously responsible for business development.

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