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América Móvil
Выбор редакции
19 января, 01:30

Billionaire Carlos Slim To Launch U.S. TV Channel 'For Mexicans By Mexicans'

Spanish-language network Nuestra Visión, a subsidiary of Slim's América Móvil, counts on success by targeting the largest segment of the U.S. Hispanic audience.

10 января, 16:00

Ceragon Networks (CRNT) Catches Eye: Stock Jumps 8%

Ceragon Networks Ltd.(CRNT) was a big mover last session, as the company saw its shares rise over 8% on the day

30 ноября 2016, 01:19

Ericsson to Drive Digital Transformation for Claro Colombia

Ericsson (ERIC) picked by Claro Colombia for transforming its legacy OSS/BSS architecture.

16 ноября 2016, 21:54

Donald Trump's Win Likely To "Severely" Impact Mexican Billionaires' Corporations, Warns Fitch

Assessing the risk level associated with Donald Trump's anti-NAFTA policies, Fitch assigned "red" light or "negative potential impact" to América Móvil, TV Azteca and Televisa

14 июля 2016, 00:21

В Беларуси мобильные операторы используются для слежки за инакомыслящими

Белорусские власти используют телефонные сети некоторых из крупнейших в мире телекоммуникационных компаний для подавления свободы слова и инакомыслия, заявила организация Amnesty International в опубликованном сегодня докладе, который поступил в распоряжение LB.ua.В докладе под названием "ДОСТАТОЧНО ОСОЗНАВАТЬ, ЧТО ОНА ЕСТЬ: Гражданское общество, секретность и слежка в Беларуси" говорится о том, как потенциально неограниченная, круглосуточная и неконтролируемая слежка подтачивает силы активистов НКО, ведь рискованными становятся самые элементарные действия, например назначение встречи по телефону. Фото: EPA/UPG Белорусские милиционеры задерживают участников акции протеста против режима президента Лукашенко в центре Минска"В стране, где вас могут задержать за участие в акции протеста или критику президента, одной угрозы того, что власти за вами шпионят, бывает достаточно, чтобы сделать работу активистов почти невозможной", - сказал Джошуа Франко, исследователь Amnesty International по технологиям и правам человека.Всё это происходит с согласия телекоммуникационных операторов (включая тех, что принадлежат группе Telekom Austria и компании Turkcell), которые предоставляют властям почти неограниченный доступ к коммуникациям и данным своих клиентов. Обеспечение властям удалённого доступа к телефонным и интернет-коммуникациям всех своих абонентов - условие работы в Беларуси."Действующие в Беларуси компании обязаны предоставлять властям доступ к каким угодно данным и когда угодно. Поэтому если КГБ хочет за кем-то шпионить, ему не нужен ордер, не нужно просить компанию о доступе", - отметил Джошуа Франко. Читайте: Спрыгнет ли Лукашенко с российского "Титаника" и что до этого момента делать Украине "На телекоммуникационные компании возлагается огромная ответственность. Обычно технологии способствуют свободе слова, однако с распространением коммуникационных технологий в Беларуси угроза репрессий повысилась. Важно, чтобы телекоммуникационные компании не давали злоупотреблять коммуникационными технологиями, используя их для возмутительного посягательства на неприкосновенность частной жизни и свободу выражения мнений, - продолжил он. - Будущее свободы в интернете зависит от того, станут телекоммуникационные компании сопротивляться правительствам, которые вторгаются в частную жизнь и пространство свободы слова, или же смиренно согласятся на все их условия, чтобы только не потерять в прибыли".В телефонных и интернет-сетях у белорусского КГБ и других силовых ведомств есть бесплатный, постоянный удалённый доступ к коммуникационным данным как в реальном времени, так и к их сохранённым копиям.В основу доклада легли интервью, взятые с августа 2015 года по май 2016 года более чем у 50 правозащитников, журналистов, адвокатов, представителей политической оппозиции, технических экспертов и прочих людей, которые проживают в Беларуси и в эмиграции. Они демонстрируют, как страх перед слежкой сказывается на частной жизни, свободе выражения мнений, свободе мирных собраний и свободе объединений. Фото: EPA/UPG Белорусский оппозиционер Дмитрий Бондаренко разговаривает по телефону после освобожденияКак рассказали организации Amnesty International активисты, из-за тотальной секретности, окружающей слежку, они вынуждены считать, что за ними постоянно следят. Один независимый журналист, чья личность не раскрывается, заметил: "Большинство людей боятся открыто говорить по телефону. Это стало частью образа мышления. Ты заведомо полагаешь, что жить страшно и плохо, что ты ничего не можешь ни контролировать, ни изменить. В принципе, говорю ли я в помещении, по телефону, пишу ли электронную почту, я считаю, что всё это попадёт в КГБ".Такие простейшие действия, как поиск финансирования для своей организации, телефонные звонки, назначение встречи превращаются в рискованные, потому что, по словам активистов, они боятся, что их личная либо финансовая информация может быть использования для возбуждения против них дела, дискредитации или шантажа.Активисты также рассказывали Amnesty International о том, как милиция оказывается проинформированной о месте и времени встреч, акций протеста и прочих публичных мероприятий ещё до того, как они случаются, причём даже тогда, когда они обсуждались лишь во время частных телефонных переговоров."Для правозащитников в Беларуси шифрование - последняя линия обороны от репрессивного государства и его могущественного аппарата слежения. Всем правительствам, которые хотят ослабить шифрование и усилить полномочия по слежке, следует задуматься над потенциальными последствиями для прав человека", - сказал Джошуа Франко.По белорусскому законодательству сети операторов должны быть совместимы с системой технических средств для обеспечения оперативно-розыскных мероприятий (СОРМ), благодаря чему властям для получения доступа к коммуникациям больше не нужно ни направлять запрос оператору связи, ни уведомлять его. Компании должны также хранить данные об устройствах клиентов и оказанных им услугах доступа к интернету в течение пяти, а может, и 10 лет, чтобы у властей сохранялась возможность удалённого доступа к такой информации.Всё происходит почти бесконтрольно, и нет никакой открытой информации о том, насколько часто используется эта система и для каких целей. Юридические основания для слежки определяются чрезвычайно широко. В частности, слежка может вестись в связи с угрозой национальной безопасности. В белорусском законодательстве описаны 30 видов угроз национальной безопасности, включая "снижение уровня благосостояния и качества жизни населения", "рост безработицы", "недостаточные объёмы и низкое качество иностранных инвестиций", а также "попытки разрушения национальных духовно-нравственных традиций и необъективного пересмотра истории". Для инициирования слежки властям не нужна санкция суда.Amnesty International призывает белорусские власти создать систему сдержек и противовесов в сфере слежки, чтобы привести её применение в соответствие с международными стандартами в области прав человека.Организация также призывает телекоммуникационные компании, которым целиком или частично принадлежат белорусские операторы, оспорить правовые нормы, которые не позволяют им соблюдать неприкосновенность частной жизни, и проинформировать своих клиентов в Беларуси о том, что власти в любой момент могут получить доступ к их данным. Фото: Sputnik/Роман Шантар Офис Velcom в МинскеТри крупнейших оператора сотовой связи в Беларуси частично принадлежат иностранным компаниям: Компания "Велком" является дочерним предприятием группы Telekom Austria и полностью принадлежит ей. В Telekom Austria организации Amnesty International сообщили, что обязаны соблюдать требования белорусского законодательства. Компания не публикует никакой информации о том, каким образом происходит управление доступом к данным клиентов "Велкома". В свою очередь, контрольный пакет Telekom Austria принадлежит América Móvil. Компания América Móvil никак не отреагировала на письма Amnesty International.Компания life:) на 80% принадлежит турецкой компании Turkcell, а 38% последней принадлежит шведской компании Teliasonera. В Teliasonera организации Amnesty International сообщили, что компания твёрдо проводит политику против прямого доступа к телекоммуникационным данным, однако не может отвечать за действия компании Turkcell, поскольку не является обладателем её контрольного пакета. Компания Turkcell не ответила на письма Amnesty International.МТС совместно владеют российская компания МТС и государственный белорусский телекоммуникационный оператор "Белтелеком". Компания МТС (Беларусь) не ответила на письма Amnesty International.Amnesty International считает, что эти компании нарушают прочно установившиеся стандарты в области бизнеса и прав человека. Согласно принятым ООН Руководящим принципам предпринимательской деятельности в аспекте прав человека, национальное законодательство страны, где работает компания, не может служить оправданием для нарушения прав человека."Назойливая слежка - не новость для Беларуси. Единственно изменение заключается в том, что благодаря технологиям она выходит на совершенно иной уровень. У властей теперь есть огромный аппарат слежения, позволяющий без каких-либо ограничений вмешиваться в частную жизнь. При помощи детализации звонков КГБ способно видеть, где и с кем человек находится. Мобильный телефон превратился в портативного милиционера, приставленного к человеку", - подытожил Джошуа Франко.Перевод: Юрий Михайлов.(http://uinp.info/world_ne...)

07 мая 2016, 00:08

Mexico's Top Broadcasters Forgo Airing Rio Olympics

Grupo Televisa and TV Azteca failed to reach an agreement to buy the rights from Carlos Slim’s América Móvil to broadcast the Summer Games in Brazil.

02 мая 2016, 20:58

WhatsApp Is Blocked In Brazil, Again

SAO PAULO (Reuters) - A Brazilian judge ordered wireless phone carriers to block access to Facebook Inc's WhatsApp for 72 hours throughout Latin America's largest country starting Monday afternoon, the second such incident against the popular messaging application in five months. The decision by the judge in the northeastern state of Sergipe applies to the five main wireless operators in Brazil. The reason for the order is not known due to legal secrecy in an ongoing case in the Sergipe state court. Representatives at Facebook in Sao Paulo could not immediately be reached for comment, nor could executives at the five carriers - Telefonica Brasil SA, América Móvil SAB's Claro, TIM Participações SA, Oi SA and Nextel Participações SA. Judge Marcel Maia Montalvão is the same judge who in March ordered the imprisonment of a Facebook executive based in Brazil for failing to comply with an attempted block on WhatsApp. He was jailed and subsequently freed. This is the second time since mid-December that the ubiquitous text message and Internet voice telephone service for smartphones has been target of a blocking order. A judge in the state of São Paulo ordered that the service be shut down for 48 hours after Facebook failed to comply with an order, although another court shortly after interrupted that suspension. (Reporting by Alberto Alerigi Jr and Guillermo Parra-Bernal; Editing by Mary Milliken) -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.

10 февраля 2016, 04:52

América Móvil recovers in final quarter

Latin America’s biggest mobile phone group helped by lower costs and foreign exchange fluctuations

Выбор редакции
29 октября 2014, 23:50

Carlos Slim's América Móvil Says It's Not Interested In Buying T-Mobile

An América Móvil's spokesperson denied that they were interested in buying T-Mobile US, as reported by Germany's Monthly Manager Magazin

Выбор редакции
24 октября 2014, 04:12

América Móvil’s profits tumble

Figure comes in well below market estimates

Выбор редакции
09 сентября 2014, 18:07

América Móvil eyes Telecom Italia unit

Brazilian mobile operators, including Oi and Telefónica, considering working together on joint bid for controlling stake of TIM Participacoes

Выбор редакции
22 июля 2014, 05:38

Regulations hit América Móvil home earnings

Mexican telecoms group blames new regulatory regime as second-quarter earnings show a 9% drop in mobile revenues at home

21 июля 2014, 12:38

Карлос Слим: мы должны работать три дня в неделю

 Мы неправильно смотрим на ситуацию, отметил Карлос Слим, мексиканский медийный магнат и богатейший человек мира: мы должны работать только три дня в неделю.  В ходе выступления на бизнес-конференции в Парагвае, Слим заявил, что пришло время для “радикальной перестройки” рабочего графика людей. Вместо того чтобы уходить на пенсию в 50 или 60 лет, мы должны уходить на пенсию в более старшем возрасте. “Людям следует работать дольше, до 70 или 75 лет и всего три дня в неделю – примерно 11 часов в день”, - подчеркнул он на конференции, согласно информационному агентству Paraguay.com. Работаю три неделю в работе, у нас будет больше времени для отдыха, что повысит качество жизни. Если у человека будет четыре свободных дня, это станет хорошим катализатором для индустрии развлечения, люди найдут, чем себя занять. 74-летний магнат выразил уверенность, что такая реформа поспособствует оздоровлению и повышению продуктивности рабочей силы, и это поможет справиться с финансовыми проблемами, связанными с долголетием. На прошлой неделе Карлос Слим Хелу снова стал самым богатым человеком в мире, во многом благодаря резкому увеличению стоимости акций телекоммуникационного гиганта America Movil на обоих фондовых рынках США и Мексики. Слим сместил сооснователя Microsoft с позиции богатейшего человека планеты, которую Гейтс занял еще в мае 2013 г. Перемещение произошло, когда стоимость телефонной компании Слима América Móvil, его крупнейшего холдинга, выросла на 1%, или $805,6 млн, что по версии Forbes увеличило его лично состояние до $79,6 млрд против $79,1 Гейтса. Котировки акций América Móvil растут, с тех пор как компания объявила на прошлой неделе о планах избавиться от непрофильных активов в соответствии с новыми нормами антимонопольного законодательства, регулирующего рынок телекоммуникационных технологий Мексики.

Выбор редакции
14 июля 2014, 01:56

Carlos Slim Inches Close To Retaking World's Richest Man Title From Bill Gates

Mexican telecom tycoon Carlos Slim is getting close to dethroning Bill Gates as the world's richest man after an unexpected announcement to sell assets sent Slim's América Móvil's shares sky high in the U.S. and Mexico markets.

11 июля 2014, 22:37

How Mexico Plans to Boost Its GDP by 2 Percent Per Year

 At 74-years-old, he boasts never having owned a computer and still sports a plastic wristwatch that doubles as a calculator, a staple of the 1980s. Living a rather ascetic and low-key existence, he has shunned most of the penchants that usually accompany huge wealth, living with his extended family in a cozy six-bedroom house a mile away from his office. His only expensive pleasure is the occasional Cuban cigar, from a box that is always at arm's length. But don't let such modest appearances fool you -- he is Carlos Slim Helu, the world's second richest man, with a fortune estimated at $72 billion. Such austere ways have left a deep imprint in the way Slim does business. Growing up, he was fascinated by his father's personality, a Lebanese immigrant who settled in Mexico in the early 1900s. Unlike most of the boys his age, at 11 he was buying government bonds. When he was 15 he bought a stake in Mexico's biggest bank, Banco Nacional de Mexico. At 26 he was already worth $40 million. Slim's big break came in 1982, following the collapse in the price of oil, which sent Mexico's stock market in a downward spiral. With enough capital on hand, Slim expanded his portfolio by buying dozens of companies for a shred of their actual worth. According to the Wall Street Journal, the plan was fairly straightforward -- buy undervalued companies, bolster their value, and then root out your competitors. The gamble paid off and now Slim singlehandedly owns close to 8 percent of Mexico's GDP. Confessing that he has lost track of the number of companies he owns, his business interests span the entirety of Mexico's economy, from telecom to football teams, from media to aquariums. His grasp over the Latin country is so far-reaching that, according to several estimates, every Mexican doles out on average $1.50 per day to one of Slim's companies, subsidiaries or holdings. One Mexican official, taking about the lack of government oversight over his businesses, morbidly quipped to the WSJ in 2007 "When Slim dies, we can finally regulate his kids." Pundits have described the Slim business empire more akin to Warren Buffet's dispassionate buying up of assets than Steve Jobs' emotional attachments to a particular company. With this in mind, his decision to put $7 billion of his flagship telecom empire, América Móvil, on the block shouldn't surprise anyone. The company and its subsidiaries control 70 percent of Mexico's mobile phone subscribers and 80 percent of all landlines. The move came moments before the Parliament passed a stringent anti-monopoly law, complementing last year's reform on telecoms and broadcasting. The monopoly-busting law, approved in the wee hours of July 9, is meant to increase competition in the telecom sector by abolishing long-distance phone charges and broaden access to free-to-air television stations. The harshest element of this new law requires preponderant players (companies that own more than 50 percent of the market) to reduce their market share or face penalties of up to 10 percent of their annual sales. Its wording was meant to target Mexico's most notorious monopolies: América Móvil and Televisa, a TV broadcaster. As to the identity of the company or individual who will snap up chunks of Slim's telecom champion, nothing is yet confirmed. Once the transaction goes through, multiple avenues of investment will arise for the billionaire. He plans to put more money in other sectors, such as energy, infrastructure and real estate, mainly outside Mexico. A swap with Emilio Azcarraga, the owner of Grupo Televisa is also possible. Since the two men are the only casualties of the law and given the interconnectivity between Slim's telecom empire and Azcarraga's media empire, it seems reasonable to expect them to shake hands on a deal. At the end of the day, following the shakeup, the clear winner will be the Mexican consumer. According to a report published by the OECD in 2012, Slim's monopoly has had a disastrous effect on the general welfare of the middle class. The lack of competition has pushed prices to "extremely high levels", costing the Mexican taxpayer some $25 billion each year, or the "equivalent to nearly 2 percent of GDP". This rounds up to a loss of $600 per year per family, a burdening figure for an emerging economy struggling with some of Latin America's most extreme pockets of poverty. After intense wrangling and years of collusion with its powerful business interests, Mexico's government finally mustered the political will to take meaningful steps towards adopting modern anti-monopoly practices. If this proves successful in the long run, other struggling Latin American countries could very well adopt this practice. What better way to boost the economy and reign in corporate interests at the same time?

11 июля 2014, 16:27

What's Next For Mexico's Carlos Slim?

Carlos Slim, Latin America’s wealthiest businessman, is on the move. According to the Financial Times, “Carlos Slim is to break up the América Móvil empire he has built in Mexico over nearly a quarter of a century, selling a large chunk of the country’s fixed-line and mobile assets in the face of [...]

Выбор редакции
10 июля 2014, 18:59

Telecoms in Mexico: Slimming down

TOUGH new anti-monopoly legislation in Mexico got off to a strong start on July 8th when América Móvil, the telecoms empire owned by the country’s most powerful businessman, Carlos Slim, unexpectedly said it would sell part of its business. It was the strongest sign yet that the reforms orchestrated by President Enrique Peña Nieto could draw blood, though the canny Mr Slim appeared determined to stay one step ahead of his competitors.The announcement came just as legislators in the lower house of Congress were struggling to stay awake during a 20-hour session to ratify laws underpinning last year’s constitutional reform on telecoms and broadcasting. The laws, which they approved early on July 9th (and which the Senate has already passed), are far-reaching. They will abolish long-distance phone charges next year, make it easier for customers to switch phone companies, and broaden access to free-to-air television stations. However, it is their success in curbing the power of two companies, América Móvil and Televisa, a TV broadcaster, by which they will be judged. For as long as the two firms continue to enjoy a market share of more than 50% in their respective businesses, the laws subject them to strict, “asymmetric” pricing regimes.Arturo Elías Ayub, Mr Slim’s son-in-law and an executive at his firm, said that as a result of the reforms América Móvil seeks to cut its market...

Выбор редакции
28 июня 2014, 03:18

AT&T sells off América Móvil stake

US wireless company sells 8.3% stake worth about $6bn as parts ways with Mexican telecoms group

19 мая 2014, 15:32

Frontrunning: May 19

Qatar Bank: Deutsche Bank to raise $11 bln with help from Qatar (Reuters) AstraZeneca rejects Pfizer's take-it-or-leave-it offer (Reuters) China Home-Price Growth Slowdown Spreads as Sellers Discount (BBG) The new face of NSA: Mike Rogers (Reuters) Putin orders troops near Ukraine to return home (AP) Wall of Worry Rebuilt as Nasdaq Rout Sends Cash to High (Nasdaq) Bank of England's Mark Carney highlights housing market's risk to UK economy (Guardian) Greek Selloff Shows Rush for Exit Recalling Crisis (BBG) Anti-austerity Greek radicals ahead in Athens local election (AFP) German Economy Will Grow at Slower Tempo, Says Bundesbank  (WSJ) China, Europe drag world stocks lower; dollar slips (Reuters) In Taking Crimea, Putin Gains a Sea of Fuel Reserves (NYT) Gunmen loyal to ex-general storm Libyan parliament, demand suspension (Reuters) Overnight Media Digest WSJ * AT&T Inc agreed to acquire DirecTV for $49 billion, a deal that would make it a major player in pay television and increase its clout with media companies at a time when video consumption is moving online. (http://r.reuters.com/jen49v) * Citigroup Inc last year quietly ousted two top executives at its Banamex USA unit after regulators raised concerns about that bank's oversight of money transfers across the U.S.-Mexico border, according to people familiar with the matter. (http://r.reuters.com/men49v) * Deutsche Bank AG plans to sell 8 billion euros ($10.96 billion) of new shares in a bid to quell concerns about its capital buffers in a challenging business and regulatory environment. (http://r.reuters.com/ten49v) * Pfizer Inc said it made a final offer for AstraZeneca PLC valued at about $120 billion, after the British pharmaceutical company rebuffed its latest effort to enter takeover talks. New York-based Pfizer said its new offer increases the cash component of the proposed deal to 45 percent of the total price and values AstraZeneca shares at 55 pounds each. (http://r.reuters.com/cun49v) * Google Inc is in talks about a possible acquisition of Twitch, a fast-growing, live-video-streaming service, according to two people familiar with the matter. The talks are at an early stage, and a deal is not imminent, the people said. (http://r.reuters.com/mun49v)   FT U.S. drugmaker Pfizer said on Sunday it had raised its offer for AstraZeneca to 69 billion pounds ($116.12 billion), and vowed to would walk away if the British rival did not accept it. Frankfurt-based Deutsche Bank launched plans to raise 8 billion euros ($11 billion) in new capital with the Qatari royal family a major new investor, in a bid by Germany's largest bank to end questions about its capital strength. BT Group Plc plans to hire 1,600 engineers for installations and repair of its fibre networks across Britain in a bid to adhere to stricter targets for telephone and broadband lines. Royal Bank of Scotland said on Sunday it is winding down its interest-rate trading business as capital and operating costs increase. Swiss voters on Sunday rejected proposals to introduce the world's highest minimum wage, bringing relief to business leaders worried the measure would have hurt competitiveness and damaged the Swiss workplace. ($1 = 0.5942 British Pounds)   NYT * AT&T Corp agreed on Sunday to buy satellite television operator DirecTV for $48.5 billion, trying to tilt the balance of power with media companies as the market for broadband internet and video shifts. With the acquisition, AT&T becomes the latest telecommunications giant seeking to establish an even greater reach. (http://r.reuters.com/qen49v) * BlackBerry Ltd's partnership with Foxconn Technology Group, a major manufacturer of Apple Inc's iPhones and iPads, comes at a critical time for the Canadian firm. Although sales of the company's devices have plummeted globally in recent years, the revenue from the phone business remains vital as John Chen, BlackBerry's chief executive, tries to shift the organization's focus to services and software. (http://r.reuters.com/maq49v) * Pfizer Inc has again raised its offer for AstraZeneca PLC, making what it said was a final effort to bring the giant British drug maker to the negotiating table. The latest offer, made Sunday evening, is worth about $119 billion. It comes after AstraZeneca's rejection of several private and public offers from Pfizer. (http://r.reuters.com/wen49v) * Blackstone Group LP has agreed to sell five office properties in the Boston area for $2.1 billion, disposing of part of a sprawling real estate portfolio it bought before the financial crisis, a person briefed on the matter said on Sunday. (http://r.reuters.com/zen49v) * Deutsche Bank, the largest German bank, said on Sunday that it would raise roughly $11 billion in new capital from existing shareholders and the royal family of Qatar, responding to regulatory pressure on banks to reduce risk. (http://r.reuters.com/dun49v)   Canada THE GLOBE AND MAIL * As work proceeded over the weekend to repair the costly, crumbling Champlain Bridge in Montreal, a vital commercial and commuter link, the politically radioactive issue of tolls to pay the replacement bill is expected to figure prominently in Quebec, leading into the next federal election in 2015. (http://r.reuters.com/jep49v) * Britain's Prince Charles arrived in Nova Scotia with his wife, Camilla, for the beginning of a four-day tour on Sunday, and was promptly sworn into the Queen's Privy Council of Canada by the governor-general in a private ceremony at Government House in Halifax. (http://r.reuters.com/vep49v) Reports in the business section: * On Tuesday, Air Canada will launch a new marketing campaign and a major repositioning of the company's brand image. The goal: to increase the carrier's presence on the world stage, and accelerate its strategy of becoming a global player in air travel. (http://r.reuters.com/xep49v) NATIONAL POST * An internal Royal Canadian Mounted Police study found 322 incidents of corruption within the national police force over an 11-year period, including a dozen examples involving organized crime. (http://r.reuters.com/dup49v) * The mountains of British Columbia cradle glaciers have scored the landscape over millennia, shaping the rugged West Coast. But they are in rapid retreat, and an American state-of-the-union report on climate change has singled out the rapid melt in British Columbia and Alaska as a major climate change issue. (http://r.reuters.com/fup49v) FINANCIAL POST * Early-stage financing is crucial for fostering innovative ventures and finding the next billion-dollar company. However, in Canada, nearly three-quarters of entrepreneurs say they struggle to find financing, a recent survey found. (http://r.reuters.com/pup49v)   Hong Kong  SOUTH CHINA MORNING POST -- Beijing has imposed a surprise roadblock to financial reform by foreshadowing severe restrictions on international accountants, including those from Hong Kong, when auditing mainland companies listing overseas, increasing investor concern over whether their books are clean. (link.reuters.com/bym49v) -- China Rongsheng Heavy Industries Group Holdings , one of the biggest shipbuilders in the country, signed a $1 billion contract with a European shipowner to build up to 36 bulk carriers within the next three years, thanks in part to a strong global shipping market. (link.reuters.com/cym49v) -- Mainland banks, under rising pressure to protect their net interest margin, will be less than keen about heeding the central bank's call last week for speedy and cheaper mortgage loans, indicating more policy relaxation or deeper cuts in home prices are needed to curb the downward spiral in the property market. (link.reuters.com/fym49v) THE STANDARD -- Conservationists are calling on the MTR Corp to suspend construction of the Sha Tin-Central rail link after more ancient relics were found along the planned route in Kowloon City. (link.reuters.com/gym49v) -- Last week's move to adjust the Double Stamp Duty failed to breathe new life into Hong Kong property market as the number of home sales done over the weekend did not change much from a week ago. (link.reuters.com/hym49v) -- Pork prices in the mainland may have hit bottom and now are rebounding after officials met representatives of leading suppliers China Yurun Food parent Yurun Group and China Agri-ndustries' parent COFCO Group. (link.reuters.com/jym49v) HONG KONG ECONOMIC JOURNAL -- CGM Ming Co Ltd said it buy the entire Beijing Sino-Kazakh for $133 million. Beijing Sino-Kazakh holds a 49 percent partnership interest in Semizbay-U which is involved in mining and extraction of natural uranium in the Republic of Kazakhstan. HONG KONG ECONOMIC TIMES -- Gold miner Hengxing Gold Holding Co Ltd is set to raise about HK$460 million ($59.34 million) in an initial public offering in Hong Kong, with dealing in shares expected to begin on May 29. Britain The Telegraph HEATHROW NOISE COMPLAINERS BEING 'FUSSY' CLAIMS BOARD MEMBER (http://link.reuters.com/wem49v) Qatar Airways chief executive Akbar Al Baker, who is also on the board of Heathrow, has said that European airports should open 24 hours a day if they want to compete with the emerging Gulf hubs in Dubai and Doha. CO-OP CHIEF WARNS IT WILL TAKE FIVE YEARS TO STEADY THE MUTUAL (http://link.reuters.com/xem49v) The head of the troubled Co-operative Group has warned that it will take five years to stabilise the mutual even after members voted unanimously to support wholesale reform of its failed governance structure. The Guardian BT TO HIRE 1,600 STAFF AMID INTERNET CONNECTIONS CRITICISM (http://link.reuters.com/zem49v) BT Group Plc is hiring 1,600 engineers amid criticism from regulators over the speed at which new internet connections are installed and faults are repaired. GLENCOREXSTRATA FACES QUESTIONS OVER DEALS MADE WITH FRIEND OF DRC LEADER (http://link.reuters.com/cum49v) Glencore Xstrata Plc, the world's largest commodities trader, enriched a friend of the Democratic Republic of the Congo's president by tens of millions of dollars while also giving him loans in excess of $500m (£298m), a report has claimed. The Times HSBC FINDS POLITICAL UNEXPLODED BOMB IN LONDON BRANCH (http://link.reuters.com/dum49v) Staff and customers at HSBC's Victoria Street London branch are expected to be told within days that it is being closed, as HSBC rushes to prevent a potentially explosive row with American regulators and jeopardising a landmark $1.9 billion (1.13 billion pounds) deferred prosecution deal agreed two years ago. BRITAIN'S TOP RETAIL PROPERTY GROUPS EYE UP BLUEWATER STAKE (http://link.reuters.com/fum49v) Land Securities, British Land in partnership with Norges Bank, the sovereign wealth fund of Norway, Hammerson and Westfield Group, of Australia, are understood to be the final bidders to buy a stake in Bluewater Shopping Centre in Kent for about 600 million pound. Sky News CARNEY AGREES TO HELP TO HEAL BANKERS' IMAGE (http://link.reuters.com/gum49v) Mark Carney has agreed to chair a selection panel that will be responsible for identifying the inaugural chairman of the organisation, which insiders said would be called the Banking Standards Review Council (BSRC). BRITAIN'S RICHEST 1,000 PEOPLE NOW WORTH 519 BLN STG (http://link.reuters.com/hum49v) The 1,000 richest people in Britain saw their wealth rise 15 percent last year to 519 billion pounds ($873.44 billion), latest figures have revealed. The Sunday Times' annual Rich List suggests the most well-off Britons now own the equivalent of a third of the country's gross domestic product (GDP).     Fly on The Wall 7:00 AM Market Snapshot ECONOMIC REPORTS No major domestic economic reports scheduled today. ANALYST RESEARCH Upgrades Abbott (ABT) upgraded to Outperform from Neutral at Credit Suisse Altera (ALTR) upgraded to Outperform from Sector Perform at RBC Capital Beacon Roofing (BECN) upgraded to Buy from Neutral at Longbow Broadcom (BRCM) upgraded to Outperform from Sector Perform at RBC Capital Energy XXI (EXXI) upgraded to Strong Buy from Outperform at Raymond James Fossil (FOSL) upgraded to Hold from Sell at Brean Capital Frank's International (FI) upgraded to Buy from Neutral at Guggenheim Fulton Financial (FULT) upgraded to Outperform from Market Perform at Keefe Bruyette Gogo (GOGO) upgraded to Buy from Neutral at UBS Legacy Reserves (LGCY) upgraded to Buy from Neutral at UBS Matson (MATX) upgraded to Outperform from Market Perform at FBR Capital Micron (MU) upgraded to Outperform from Sector Perform at RBC Capital NVIDIA (NVDA) upgraded to Outperform from Sector Perform at RBC Capital Reynolds American (RAI) upgraded to Outperform from Market Perform at Wells Fargo Texas Instruments (TXN) upgraded to Outperform from Sector Perform at RBC Capital Downgrades ATK (ATK) downgraded to Neutral from Buy at Goldman Altria Group (MO) downgraded to Market Perform from Outperform at Wells Fargo American Realty (ARCP) downgraded to Neutral from Outperform at RW Baird AstraZeneca (AZN) downgraded to Market Perform from Outperform at Leerink CenturyLink (CTL) downgraded to Equal Weight from Overweight at Morgan Stanley Ensco (ESV) downgraded to Hold from Buy at Jefferies Genworth (GNW) downgraded to Underweight from Equal Weight at Morgan Stanley Thermon Group (THR) downgraded to Hold from Buy at KeyBanc Initiations Deckers Outdoor (DECK) initiated with a Buy at Citigroup Hi-Crush Partners (HCLP) initiated with a Buy at BofA/Merrill LeMaitre (LMAT) initiated with a Buy at Brean Capital Sabra Health Care (SBRA) initiated with a Neutral at BofA/Merrill Sabra Health Care (SBRA) initiated with a Neutral at BofA/Merrill Skechers (SKX) initiated with a Buy at Citigroup COMPANY NEWS AT&T (T) announced it will acquire DirecTV (DTV) in a stock-and-cash transaction for $95 per share AT&T (T) will divest América Móvil (AMX) stake to aid in Latin America regulatory process (DTV) AstraZeneca (AZN) rejected final takeover proposal from Pfizer (PFE), which was comprised of GBP24.76 in cash and 1.747 Pfizer shares per AstraZeneca share Deutsche Bank (DB) announced a EUR8B capital raise, Qatar takes stake. The capital measures will increase the Common Equity Tier 1 ratio by approximately 230bps from 9.5% at the end of Q1 to 11.8% on a pro forma CRD4 fully-loaded basis Johnson Controls (JCI) said it will create an automotive-interiors business JV with China partner Google (GOOG) acquired Quest Visual, the company behind Word Lens EARNINGS AT&T (T) now sees FY14 EPS growth at low end of mid-single digit guidance Avista (AVA) confirmed FY14 earnings guidance NEWSPAPERS/WEBSITES AT&T (T) will not have to pay break-up fee if DirecTV (DTV) deal fails, Reuters reports Google's (GOOG) YouTube to acquire Twitch for $1B in cash, Variety says Apple (AAPL), Google (GOOG) settle litigation over smartphone patents, Bloomberg reports Facebook (FB) working on video app called Slingshot to go head-to-head with Snapchat, FT reports Siemens (SI) could announce formal Alstom (ALSMY) offer this week, Reuters says (GE) KKR (KKR) in advanced talks to buy Goodpack for at least $1B, WSJ reports Cisco (CSCO) CEO sends Obama letter expressing concerns of NSA activity, Re/code says Investors should show caution with Cisco's (CSCO) rebound, Barron's says Pitney Bowes (PBI) could jump 60% in three years, Barron's says Avon Products (AVP) shares look compelling, Barron's says TD Ameritrade (AMTD) shares could rise 35%, Barron's says Triumph Group (TGI) looks good, Barron's says SYNDICATE ARAMARK (ARMK) files to sell 20M shares of common stock for holders Emerald Oil (EOX) files to sell 12.99M shares of common stock for holders KKR (KKR) files to sell 5M common units representing limited partners Kona Grill (KONA) files to sell 2.3M shares of common stock Marrone Bio (MBII) files to sell $35M of common stock Monmouth Real Estate (MNR) files to sell 7M shares of common stock    

19 мая 2014, 01:45

AT&T Buys DirecTV In $67 Billion Deal; Pfizer Makes "Final Proposal" To Buy AstraZeneca, Boosts Offer By 15%

In what is setting up to be a scorching merger Monday, moments ago we got confirmation of news that had been leaked days in advance, namely that both the boards of AT&T and DirecTV had agreed to a transaction whereby AT&T would buy DirecTV in the latest chapter of what we dubbed several months ago the "M&A bubble", for $95/share in a $67.1 billion transaction including debt, consisting of $95/share in stock, $28.50/share in cash. According to the public announcement, the DirecTV purchase represents a 7.7x multiple of its 2014E EBITDA. The terms of the transaction from the press release: DIRECTV shareholders will receive $95.00 per share under the terms of the merger, comprised of $28.50 per share in cash and $66.50 per share in AT&T stock. The stock portion will be subject to a collar such that DIRECTV shareholders will receive 1.905 AT&T shares if AT&T stock price is below $34.90 at closing and 1.724 AT&T shares if AT&T stock price is above $38.58 at closing. If AT&T stock price at closing is between $34.90 and $38.58, DIRECTV shareholders will receive a number of shares between 1.724 and 1.905, equal to $66.50 in value.   This purchase price implies a total equity value of $48.5 billion and a total transaction value of $67.1 billion, including DIRECTV’s net debt. This transaction implies an adjusted enterprise value multiple of 7.7 times DIRECTV’s 2014 estimated EBITDA. Post-transaction, DIRECTV shareholders will own between 14.5% and 15.8% of AT&T shares on a fully-diluted basis based on the number of AT&T shares outstanding today.   AT&T intends to finance the cash portion of the transaction through a combination of cash on hand, sale of non-core assets, committed financing facilities and opportunistic debt market transactions.   To facilitate the regulatory approval process in Latin America, AT&T intends to divest its interest in América Móvil. This includes 73 million publicly listed L shares and all of its AA shares. AT&T’s designees to the América Móvil Board of Directors will tender their resignations immediately to avoid even the appearance of any conflict. Additionally, as the press release states, "AT&T expects the deal to be accretive on a free cash flow per share and adjusted EPS basis within the first 12 months after closing." The combination provides significant opportunities for operating efficiencies. AT&T expects cost synergies to exceed $1.6 billion on an annual run rate basis by year three after closing. The expected synergies are primarily driven by increased scale in video. Where will the upside come from: The combination diversifies AT&T’s revenue mix and provides numerous growth opportunities as it dramatically increases video revenues, accelerates broadband growth and significantly expands revenues from outside the United States. Given the structure of this transaction, which includes AT&T stock consideration as part of the deal and the monetization of non-core assets, AT&T expects to continue to maintain the strongest balance sheet in the industry following the transaction close.   AT&T’s 2014 guidance for the company remains largely unchanged. However, the company’s intention is to divest its interest in América Móvil, which will result in an approximately $0.05 reduction in EPS, as the América Móvil investment will no longer be accounted for under the equity method. Adjusted 2014 EPS growth is now expected to come in at the low-end of the company’s mid-single digit guidance. As always, there is risk the FCC will nix the transaction which forms a telecom behemoth with over $100 billion in combined debt: The merger is subject to approval by DIRECTV shareholders and review by the U.S. Federal Communications Commission, U.S. Department of Justice, a few U.S. states and some Latin American countries. The transaction is expected to close within approximately 12 months. * * * Almost concurrently with the AT&T announcement, Pfizer also did what many expected it to do, when it announced that as part of its "final offer" it would boost its proposed purchase price for AstraZeneca by 15%, representing a total transaction value well north of $115 billion. From the press release: AstraZeneca shareholders would receive, for each AstraZeneca share, 1.747 shares in the combined entity and 2,476 pence in cash, representing an indicative value of £55.00 Substantial increase of approximately 15% over the current value of Pfizer's 2 May proposal Cash consideration increased by £8.78 per AstraZeneca share, or approximately £11.3 billion ($19.0 billion) Cash component increased as a proportion of the total consideration from approximately 33% to 45% Pfizer calls on supportive AstraZeneca shareholders to urge the AstraZeneca board to begin substantive engagement with Pfizer and extend the period for such talks prior to the 26 May deadline for making an offer Most importantly: Pfizer will not make a hostile offer directly to AstraZeneca shareholders and will only proceed with an offer with the recommendation of the AstraZeneca board Indeed, as Bloomberg clarifies, citing the Pfizer CEO, "Following a conversation with AstraZeneca earlier today, we do not believe that the AstraZeneca board is currently prepared to recommend a deal at a reasonable price,” Pfizer CEO Ian Read says in e-mailed statement. Pfizer sent a letter on May 16 to AstraZeneca Chairman Leif Johansson offering GBP53.50/shr, or 1.845 shares in the combined co., 2,157p/AstraZeneca shr AZN said its board thought that proposal “substantially” undervalued co., said it’s not prepared to accept a price close to Pfizer’s £53.50 proposal Pfizer confirms that it won’t make a hostile offer directly to AstraZeneca holders, will only proceed with offer with recommendation of AstraZeneca board And while Pfizer said the deal expires in 8 days, on May 26, BBC's Mark Kleiman makes it clear that a deal is hardly assured even despite what appears now to be a 15x purchase multiple: Pfizer urges AZ investors to put pressure on board to engage. May be tricky for AZ directors to engage though given rejection of £53.50. — Mark Kleinman (@MarkKleinmanSky) May 18, 2014 Importantly, Pfizer says it will not make a hostile bid for AZ - means this could all be over relatively swiftly if UK company says no. — Mark Kleinman (@MarkKleinmanSky) May 18, 2014 If £53.50 "substantially undervalued" AZ, does £55 represent basis for serious engagement? That's the question AZ will have to answer tmrw. — Mark Kleinman (@MarkKleinmanSky) May 18, 2014 Pfizer's appeal to AZ shareholders makes it a quasi-hostile bid - full hostile would be too risky given regulatory and tax complexities. — Mark Kleinman (@MarkKleinmanSky) May 18, 2014 In any case, as the scramble to take advantage of ever lower rates accelerates (because oddly enough rates are not rising for whatever reason, despite the so-called recovery), even if the AZN deal falls through, expect many more M&A deal to take place in the coming weeks and months as the final traces of the liqidity bubble manifest themselves in an M&A blowoff top now that the buyback frenzy appears to be fading and acquisitions are the last bastion before companies finally have to allocate capital to that one most hated of activities, if only by shareholder activists, capex.