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
In Brussels, Prime Minister Gediminas Kirkilas participated in the meeting of Nordic and Baltic (NB6) Prime Ministers which focused on the pressing topics on the agenda of the European Council: global finance crisis, energy, climate change, EU-Russia relations, and financial situation in Iceland.
more »
Prime Minister Gediminas Kirkilas attended the working dinner with President of the European Commission José Manuel Barroso, Danish, Estonian, Finnish, Latvian, Polish Prime Ministers – Anders Fogh Rasmussen, Andrus Ansip, Matti Vanhanen, Ivars Godmanis, Donald Tusk – and Swedish Minister of Foreign Affairs Carl Bildt.
more »
The European Commission has put forward a revision of EU rules on deposit guarantee schemes that puts into action the commitments made by EU Finance Ministers on 7 October.
more »
The United States began releasing long-awaited details of its $700 billion rescue plan.
more »
Australia's Prime Minister announces plans for the government to guarantee bank deposits for the next three years.
more »
Ethical bank, Triodos, says it is offering customers an alternative way to invest their funds.
more »
Energy security was the dominant theme during the meeting between Lithuanian Prime Minister Gediminas Kirkilas and Latvian Prime Minister Ivars Godmanis.
more »
The draft law would require utilities to separate – or unbundle – the distribution of electricity and gas from production.
more »
A holistic approach to eradicating poverty, which seeks to ensure adequate incomes, quality jobs and better access to social services, is advocated by the EP in an own-initiative report.
more »
Dubai showcases multi-billion dollar development projects at the annual Cityscape exhibition.
more »