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
The European Commission has approved under EC Treaty state aid rules a Latvian support scheme to stabilise financial markets by providing guarantees to eligible banks to ensure their access to financing.
more »
Gathering in Beijing, China's political elite gather to celebrate three decades of China's economic reform and market liberalisation.
more »
After two days of intense negotiations, European leaders reached agreement on how to achieve the EU’s ambitious climate change goals and endorsed a €200bn plan to revive the flagging EU economy.
more »
Detroit won't get its bailout, as the U.S. Senate blocked the measure to rescue America's big three car makers.
more »
The world is facing “an acute food crisis”. That was the verdict of a report adopted by MEPs in the Agriculture Committee on 8 December.
more »
The European Commission has agreed a Communication that aims to improve the functioning of the food supply chain in order to lower prices for consumers.
more »
The World Bank's 2009 Global Economic Prospects report is projecting world growth will shrink to 0.9 percent next year.
more »
Prospects for a federal aid package to help the US auto industry advanced on Monday.
more »
A new report from Aite Group LLC explores possible regulatory and legislative responses to the current financial crisis, with particular attention paid to three key topics: consumer lending, risk management and deposit relationships.
more »
A new report from Mercator Advisory Group's Retail Banking Practice focuses on the ATM and the multifaceted role it plays in the retail banking market.
more »