Europe’s largest mobile phone operator, has shunned its traditional advisers on mergers and acquisitions
Published:
17 August 2004 y., Tuesday
Europe’s largest mobile phone operator, has shunned its traditional advisers on mergers and acquisitions with the appointment of Citigroup to weigh a possible $2 billion (£1.1 billion) bid for the Czech Republic’s Cesky Telecom.
Citigroup’s engagement is a blow to UBS and Goldman Sachs, the investment banks that advised Vodafone on lucrative bids including the mobile group’s failed tilt at America’s AT&T Wireless earlier this year and its successful takeover of Germany’s Mannesmann in 2000.
Vodafone said that it had appointed Citigroup and Ceska Sporitelna, a Czech bank, because of their stronger knowledge of the country, where the Government plans to sell its 51 per cent stake in Cesky Telecom.
The Czech Government plans to open a tender in September for its stake in the former monopoly, which is one of the most profitable telecoms groups in Europe.
Cesky comprises a fixed line business with about 3.6 million customers and the nation’s leading wireless group, Eurotel. Vodafone is unlikely to be interested in the fixed-line operations and is expected to investigate the possibility of buying only the wireless business.
Šaltinis:
business.timesonline.co.uk
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
On 30th April this year, AB Bank SNORAS business loan portfolio, in comparison to 31st December 2008, i.e. during the first four months of this year, grew by 74 million Litas or 3.8 per cent, while the business loan portfolio of the most banks operating in Lithuania was decreasing.
more »
London's financial district, Canary Wharf is transformed into a giant car showroom. Dozens of manufacturers and dealers have flocked to this part of the city to show off their latest models.
more »
In the latest edition of its 2009 survey, "ATMs and Cash Dispensers Central and Eastern Europe," Retail Banking Research Ltd. says the 15 countries it has tracked in CEE have once again shown exceptional growth.
more »
During the draw another five winners of the Danske Bankas monthly Scholarship award (a one off payment to the amount of 250 litas) were announced.
more »
The European Commission has authorised, under the EC Treaty’s rules on state aid, plans notified by Sweden to provide guarantees that would enable Volvo Personvagnar to access loans from the European Investment Bank.
more »
The European Union signed an interim Economic Partnership Agreement (EPA) today with Botswana, Lesotho and Swaziland.
more »
Commission proposes to immediately free up €19bn in earmarked funds to fight unemployment as recession takes its toll.
more »
Danske Bankas would like to inform all present and future customers that, as of 1 July 2009, the cash withdrawing fee from Danske Bankas' ATM network in Lithuania is to change.
more »
One day not so far in the future, Europeans may be able to buy a loaf of bread knowing where the flour came from.
more »
General Motors is getting closer to filing what would be the largest industrial bankruptcy in US history.
more »