Tata to buy stake in Deutsche Telekom unit: report
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Indian conglomerate Tata plans to buy a stake in a high-tech unit of Germany's Deutsche Telekom which would see thousands of jobs outsourced, according to a German weekly newsmagazine.
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com. In a new indication that the sale of US-built telecommunications infrastructure to foreign interests at fire-sale prices is continuing, Tyco International announced Monday that it is selling its Tyco Global Network to India&#39;s Tata Group.
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Deutsche Telekom is ready to make acquisitions in the mobile communications sector, and could finance them by selling non-core activities such as Club Internet in France, the head of the German telecoms giant said Thursday.
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JOHANNESBURG (Dow Jones)--Telkom SA Ltd (TKG) said in a statement Tuesday it welcomes the sale of a 15.1% stake in the company to a black consortium.
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AT&T Inc , the biggest U.S. phone company, wants to buy an unspecified stake in the mobile arm of state-controlled phone firm Telekom Malaysia , a Malaysian newspaper reported on Wednesday.
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British mobile phone giant Vodafone agreed to buy an 11-billion-dollar controlling stake in India's Hutchison Essar in an attempt to move into the world's fastest-growing mobile phone market.
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India's Tata Motors Ltd  is  preparing for "an outright purchase" of Ford Motor Co's   Jaguar and Land Rover luxury brands, against an earlier plan  for a majority stake, the Economic Times said on Wednesday.
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Deutsche Telekom  mobile phone division T-Mobile USA has agreed to buy SunCom Wireless Holdings Inc  for about $1.6 billion, the companies said on Monday.
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Top Indian software exporter Tata Consultancy Services will list its share on the Bombay Stock Exchange next week following its successful maiden share offer, an official said.
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Britain's Vodafone Group PLC has agreed to buy a 67 percent controlling interest in Hutchison Essar Ltd., one of India's leading cell phone companies, for $11.1 billion, Vodafone said in a statement Sunday.
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Ford Motor Co  said on Thursday India's Tata Motors Ltd  was the front-runner to buy its European brands Jaguar and Land Rover.
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India's Tata Motors  is set to be named as the preferred buyer for Ford Motor's  luxury brands Jaguar and Land Rover as early as Friday after beating rivals with a bid of around $2 billion, Indian and British media reported.
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Indian business conglomerate Tata Group has confirmed its interest in purchasing the Jaguar and Land Rover units of Ford, making Tata the first company to publicly suggest it would pursue the brands.
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British mobile phone giant Vodafone has agreed to buy an 11-billion-dollar controlling stake in India's Hutchison Essar in an attempt to move into the world's fastest-growing mobile phone market.
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Telekom Austria yesterday said it had agreed to buy MobilTel, Bulgaria&#39;s leading mobile telephone operator, in a step widely seen as preparing the way for a big share placement in the Austrian group.
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(InfoWorld) - Expanding its U.S. turf, T-Mobile USA announced Monday that it will buy SunCom Wireless Holdings for $2.4 billion in cash and assumed debt. T-Mobile, a subsidiary of Deutsche Telekom, will make a cash payment of about $1.6 billion for SunCom, which operates wireless networks in the southeastern U.S. and Caribbean. The acquisition will improve T-Mobile's network coverage in North Carolina, South Carolina, Tennessee, Georgia, Puerto Rico, and the U.S. Virgin Islands, T-Mobile said in a news release. SunCom has provided roaming service to T-Mobile in these areas since 2004. It operates a network that includes GSM (Global System for Mobile Communications), GPRS (General Packet Radio Service) and EDGE (Enhanced Data Rates for GSM Evolution). T-Mobile expects to fully integrate SunCom's network into its own, the company said in a news release. T-Mobile, the fourth largest wireless carrier in the U.S., has had limited coverage in parts of the southeastern U.S. The SunCom acquisition allows T-Mobile to continue its strategy to "grow abroad with mobile," RenÃ© Obermann, chairman of Deutsche Telekom's board, said in a statement. The acquisition is subject to governmental and regulatory approvals as well as approval by SunCom shareholders. The companies expect the deal to close in the first half of 2008. At the end of the second quarter of 2007, SunCom had more than 1.1 million customers, up by more than 105,000 customers from a year earlier. Its revenue for the quarter was $242.5 million, up from $206.7 million a year earlier. The agreement, approved by the boards of both companies, will give holders of SunCom common stock $27 per share in cash. The $27 per share purchase price represents a premium of 22.7 percent over the closing price of SunCom common stock on the New York Stock Exchange Friday.
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India's Tata Steel  won a bid battle for Anglo-Dutch steelmaker Corus Group   on Wednesday by agreeing to offer investors 608 pence per share in cash, or 5.75 billion pounds ($11.3 billion).