Tanzania in southern Africa will allow investors from outside the country to take part in telecom operator listings after previous attempts fell through, Bloomberg reported, such as an IPO of Vodacom Tanzania, which struggled in the face of limited local demand. The report noted that Vodacom hasn’t yet announced the result of its offer, leading to a delay in listing. Another telco moving toward an IPO is Millicom’s Tigo Tanzania. “Tanzanians, Tanzanian companies, Tanzania in the diaspora, joint ventures between…
The European Commission has fined Google €2.42 billion for breaching EU antitrust rules. Google has abused its market dominance as a search engine by giving an illegal advantage to another Google product, its comparison shopping service, according to a European Commission statement. The company must now end the conduct within 90 days or face penalty payments of up to 5% of the average daily worldwide turnover of Alphabet, Google's parent company. “Google has come up with many innovative products and…
French telecom giant Orange announced it has launched the sell-down of approximately 133 million shares that its subsidiary Atlas Services Belgium owns in BT, representing around 1.33 % of the share capital of BT, through a private placement by way of an accelerated bookbuilt offering. BT will acquire up to GBP 200m in the placement of BT shares, part of which for the benefit of its Employee Share Ownership Trust, at the placement price. Such order will be fully allocated…

Amazon to acquire Whole Foods Market for $13.7 billion

Written on Thursday, 22 June 2017 06:11
E-commerce giant Amazon and Whole Foods Market, Inc., a leading natural and organic foods supermarket, announced that they have entered into a definitive merger agreement under which Amazon will acquire Whole Foods Market for $42 per share in an all-cash transaction valued at approximately $13.7 billion, including Whole Foods Market’s net debt. “Millions of people love Whole Foods Market because they offer the best natural and organic foods, and they make it fun to eat healthy,” said Jeff Bezos, Amazon …
Yahoo! Inc. announced the preliminary results of its special meeting of stockholders held on June 8. Yahoo stockholders approved the previously announced proposed $4.48 billion sale of the company's operating business to Verizon Communications Inc. Yahoo anticipates that the sale transaction will close on June 13, 2017. As previously announced, following the closing of the sale transaction, the company will change its name to "Altaba Inc." and register as an investment company. Following the shocking announcement made by Yahoo last…
Japan’s SoftBank Group Corp announced a subsidiary of SoftBank has entered into a definitive agreement to acquire robotics pioneer Boston Dynamics from Alphabet Inc (parent company of Google). The transaction aligns with SoftBank's investments in paradigm-shifting technologies and its vision of catalyzing the next wave of smart robotics. The terms of the transaction were not disclosed. “Today, there are many issues we still cannot solve by ourselves with human capabilities. Smart robotics are going to be a key driver of…
Amazon announced Amazon Lending surpassed $3 billion in loans to small businesses to date since the program launched in 2011. Amazon Lending offers short-term business loans, for up to 12 months, to invited micro, small and medium businesses selling on Amazon to help them grow their business. With access to more than 300 million active customer accounts worldwide, Amazon provides small businesses the opportunity to quickly reach customers in their neighborhood and around the globe. “We created Amazon Lending to…
Qualcomm Incorporated announced that Qualcomm River Holdings B.V., an indirect wholly owned subsidiary of Qualcomm, has extended the offering period of its previously announced cash tender offer to purchase all of the outstanding common shares of NXP Semiconductors N.V. The tender offer is being made pursuant to the Purchase Agreement, dated as of October 27, 2016, by and between Qualcomm River Holdings B.V. and NXP. The tender offer is now scheduled to expire at 5:00 p.m., New York City time,…
Saudi Arabian telecoms giant Saudi Telecom Company (STC) announced the establishment of STV, a technology venture capital fund that aims to achieve its strategic growth aspirations and to help realize Vision 2030’s technological ambitions by investing in new digital areas and by growing the digital innovation ecosystem in the region. STC believes the Middle East is witnessing a digital transformation that is full of opportunities in the digital economy and digital industries, and that the future involves drastic changes that…
China’s Lenovo Group announced results on Thursday May 25, for its fourth fiscal quarter and full-year ended March 31, 2017. It was a year of significant transformation for Lenovo which made good progress in implementing and executing its new “three-wave strategy,” designed to meet the critical business challenges of today, while positioning the company for continued long-term profitable growth. As part of Lenovo’s transformation, the company put in place an aggressive new end-to-end ownership model to manage each business differently,…
Vodafone Group announced that its wholly-owned subsidiary, Vodafone International Holdings B.V. (“Vodafone”), has agreed to transfer part of its indirect shareholding in Safaricom Limited (“Safaricom”) to Vodacom Group Limited (“Vodacom”), its sub-Saharan African subsidiary. Based on the agreed terms of the transaction, Vodafone will be exchanging a 35% indirect interest in Safaricom for 226.8 million new ordinary Vodacom shares. The transaction, which has a value of €2,361 million based on Vodacom’s closing share price on Friday 12 May 2017, will…
LG Electronics Inc. (LG) announced first-quarter 2017 revenue of KRW 14.66 trillion (USD 12.70 billion), an increase of 9.7 percent from the same period last year. LG nearly doubled its operating income to KRW 921.5 billion (USD 798.3 million) with the Home Appliance & Air Solutions Company posting its highest quarterly operating income in eight years. LG Home Appliance & Air Solution Company reported a 10 percent increase in first-quarter sales from the same period a year earlier and 15…
Page 5 of 16