Norway’s state-owned international telecom firm Telenor Group delivered a strong set of results for the second quarter of 2017 with improved revenue growth, double-digit EBITDA uplift and strong cash flow generation. Both the EBITDA and the EBITDA margin are all-time high this quarter for the company. “We were able to reduce our costs by NOK 0.6 billion (US$73.3 million) and we saw margin expansion in all our business units,” said Sigve Brekke, President and CEO, Telenor Group. “The robustness of…
US technology colossus and global search engine giant Google has avoided paying a whopping €1.1 billion tax bill in France after a Parisian court ruled in its favour. The court’s decision was a welcome reprieve for the Californian based entity, as the ruling comes just weeks after Google was fined by the European Commission (EC). Google’s legal row in relation to this tax bill has dragged on for six years, but a Parisian administrative tribunal ruled that Google was not…
US technology leaders Microsoft has shocked its workforce by announcing that it plans to cuts ‘thousands’ of jobs as part of company reorganization strategy. However, it’s been reported from a source close to Microsoft that most of the reductions will be made outside of the US, and will target staff in its sales and marketing departments. Some analysts are claiming that the restructuring of the organization is being driven by the fact Microsoft aims to double down on its fast-growing…
Qualcomm CEO, Steve Mollenkopf has claimed that 5G will represent a revenue opportunity of around $12 trillion by 2035. Mollenkopf made the statement when he was delivering his keynote address at Mobile World Congress Shanghai. However, the CEO of the global chip giant did express his belief that we have to utilize 4G technology. He said it was imperative we made the most of 4G and focused particularly on new gigabit LTE networks.
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,…
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