More recently, to strengthen its presence in Africa, Orange on July 19 completed the acquisition of the African unit in Sierra Leone of India-based BhartiAirtel's (BSE: 532454), a deal first agreed in January 2016. The partnership aims to boost investments in its 3G network coverage across the Sierra Leone.
Also in July, Hong Kong-based Hutchison Whampoa Ltd (HKSE: 0013) and Netherlands-based Vimpelcom Ltd (AMS: VIP) agreed to sell their assets to French Iliad SA (PAR: ILD), with the deal yet to be approved by the European Commission (EC). A decision, according to the EC, will be made by September 8, 2016.
TeliaSonera (STO: TELIA) and Telenor (STO: TELO) for example pulled out of the merger of their mobile operations in Denmark, after being unable to reach an agreement with the European Commission on conditions for ensuring the market remains competitive. The event marked the first time such a deal had been blocked since telecoms companies began their M&A spree three years ago.
As a response to the unfavorable ruling, telcos in Europe may delay their M&A activity. Instead, they will put more focus on alternative ways of cutting costs — for instance a reduction on capital expenditures, more networks sharing among operators, streamlining and outsourcing.
#mergerandacquisition #merger #acquisition #jv #jointventure #stoxxeurope600telecommunications #telecommunications #industryreports #investing #stocks #MergentInc #publiclibraries #academiclibraries #moodys #finance @MergentInc @FT @DnBUs @Hoovers @WSJ @WSJMarkets @INC @invstreams @DOWJONES @Chartoftheday @FordEquity @IntrinsicEquity