EIRCOM => Eircell => Vodaphone - 500 Beiträge pro Seite

[Ines40]

KPN, Telia to Sell Eircom Stake Before Unit Sale, Paper Reports
By Brian O`Neill

Dublin, Nov. 13 (Bloomberg) -- Royal KPN NV of the Netherlands and Sweden`s Telia AB plan to sell their 35 percent stake in Eircom Plc as the Irish phone company aims to sell its mobile phone unit, the Irish Times said, without citing sources.

Eircom said last month it`s in exclusive talks to sell its Eircell mobile division to U.K.-based Vodafone Group Plc. KPN and Telia don`t want to keep their stake in Eircom after Eircell is sold and attempts to accommodate the two companies is one of the reasons the sale is being delayed, the newspaper reported.

Vodafone will offer two of its shares for every share in a demerged Eircell, requiring Eircom to find cash to buy out KPN and Telia`s stakes, the newspaper reported.

Eircom shares closed at 3.30 euros on Friday, about 15 percent below the price of last year`s initial public offering.

(Irish Times, 11/13, p.18)

[NOBODY_III]

Hallo Ines,

Schau bitte mal in Dein Postfach.

Gruß

NOBODY

[Ines40]

heute bei NTV um 12:00 Uhr

Report Vodaphone Aktivitäten


@Nobody: in meinem postfach ist nix ... leer ... empty ... Пустой

[Ines40]

Vodafone`s Gent Sees Decision on Eircom Mobile Unit by December
By Thomas Molloy

London, Nov. 14 (Bloomberg) -- Vodafone Group Plc Chief Executive Chris Gent said he expects to reach a decision on the acquisition of Irish cellular phone company Eircell from Eircom Plc by December.

``We`ll know in the next month where we are going,`` Gent said in a conference call with journalists. ``I can`t really say at this stage, its too early to call.`` Gent was speaking as the world`s largest wireless company reported first-half results.

Eircom said in early October it was in exclusive talks to sell Eircell and later said it was talking to Vodafone. The unit is likely to be sold for about 5.1 billion euros ($4.4 billion), analysts say.

Eircom has also received an approach for its traditional phone business from Irish businessman Denis O`Brien. Local media reports have said Tony O`Reilly, the chairman of Independent News & Media Plc and former chief executive of U.S.-based food company H.J. Heinz Co., is also considering a bid for Eircom`s fixed line business.

O`Brien`s plan is to divide Eircom into a cell phone division owned by Vodafone, a private company run by O`Brien and a multimedia company including telephone directory services and Internet companies.

O`Reilly would likely seek to buy the multimedia interests to bolster his Internet information services, reports said.

Eircom`s shares rose as much as 0.08 euro, or 2.5 percent, to 3.28, paring an earlier 0.02 euro drop. Vodafone rose as much as 13 pence, or 5.5 percent, to 251.25 in London.

Vodafone said profit rose 24 percent in the six months ended Sept. 30 as it added more customers and expanded.

[Ines40]

Eircom to Reject O`Brien Offer, Seek EU2.7 Billion, Paper Says
By Thomas Molloy

Dublin, Nov. 15 (Bloomberg) -- Eircom Plc plans to reject Denis O`Brien`s 2.25 billion euro ($1.89 billion) offer for its traditional phone business as it seeks a higher bid, the Irish Times reported, without citing sources.

Ireland`s biggest phone company won`t start negotiations unless O`Brien offers about 2.7 billion euros for the unit, the paper said. Merrill Lynch & Co., Eircom`s adviser, plans to tell O`Brien`s investment bank, Donaldson, Lufkin & Jenrette Inc., this week that the current bid is too low.

O`Brien, the former chief executive of Esat Telecom Plc, this month said he was leading a group to buy Eircom`s fixed-line business. His offer coincided with Vodafone Group Plc`s talks to buy Eircom`s mobile unit.

Chris Gent, Vodafone`s chief executive, said yesterday he expects to decide by December whether to buy Eircell. Eircom said in early October it was in exclusive talks to sell Eircell and later said it was talking to Vodafone. The unit is likely to be sold for about 5.1 billion euros, analysts say.

(Irish Times, 11/15)

[Ines40]

Vodafone sets deadline for its Eircell decision
By KATHLEEN BARRINGTON
THE chief executive of UK mobile phone giant Vodafone said yesterday it was too early to say if talks on the acquisition of Eircom`s Eircell mobile unit would lead to a deal but he expected a decision by the start of December.

Speaking following publication of the company`s results, Chris Gent said: "We hope it comes to something. It all depends on due diligence."

In Dublin, market sources said the announcement of the deal had been delayed, due to the legal complexities involved.

The sources said it was the first time that any mobile phone company had been demerged from a fixed line company and that it was important to clarify the ownership of Eircom`s and Eircell`s assets before announcing a deal.

It is thought Eircom would like to announce the deal when it publishes interim results, which must happen before the end of November.

However, the announcement may have to be pushed back to early December if the talks are not concluded by the end of November.


Shares in Vodafone closed up 10pc in London at stg260.5p, after the company announced strong first-half results that reassured the market it could continue to increase profits in the face of intense competition and expensive licence bills.

[Ines40]

Eircom in push for deal
By SHANE ROSS
FRENZIED meetings between Eircom and Vodafone chiefs are taking place all this weekend in an effort to clinch a deal before an unofficial target of December 7. Eircom is prepared to delay the release of its interim figures (due this Thursday, November 30) if it is confident of tying up the sale of its mobile arm, Eircell, to Vodafone by that date. Otherwise, the interim results will be announced as scheduled this week.

Meanwhile, industry sources have estimated that the cost of advisers in the Eircom/Vodafone talks will run to over £30m. This includes two sets of lawyers, Arthur Cox and the UK`s Scaden Arps, plus Goodbody Stockbrokers and Merrill Lynch in London.

While the Vodafone talks have been delayed by several weeks, analysts remain confident the euro 2.31 per share deal will be completed.

On another battlefront, no meaningful negotiations are yet in train with Denis O`Brien`s eIsland consortium, which is bidding euro 1 per share for Eircom`s fixed line business. Observers detect increased impatience in the O`Brien camp as the Eircom negotiators appear anxious to complete the sale of Eircell first.

Disagreement between the two parties seems to centre around Eircom`s attempt to tie O`Brien into a two-year `standstill` a means of ensuring the bidder guarantees no hostile approach if the target company agrees to exclusive talks. It is understood that the O`Brien camp has offered to do a `standstill` deal but only until January 20, giving Eircom a chance to complete an agreement by that deadline, the same day that KPN and Telia are allowed to sell their 35 per cent holding in Eircom. It would then be open to O`Brien to offer for their 35 per cent and decide whether to bid for the entire company.

It also emerged yesterday that Eircom is to pay £600,000 for a 10 per cent stake in finance2u.com.

[Ines40]

kopie vom iii board


Author
Stipend


Date posted: Today 11:29


Subject: Price Fall??


Opinion: Strong BUY


Message: With regards to spud-u-like`s comment, I have to concur with the information given. The VODAFONE deal is not dead, rather it is practically signed and sealed with the exception of the 3G issue.

The problem is that the 3G licences will be sold by "beauty" parade rather than by auction. The problem is that if Eircell is sold before the "beauty parade", Eircom can then apply for the 3G licence for obvious reasons in that Ericom is not as attractive without 3G. In this case, VODAFONE is not guaranteed (most likely will get, but is not guaranteed) to get a 3G licence. VODAFONE would therefore prefer that Eircom not put themselves forward in the beauty parade for a licence, and discussions are ongoing on this.

Secondly, before the deal can be finalised the telecoms regulator must give his approval to the deal.

I am not sure when the beauty parade is taking place, but if the deal is still not signed at the time of the 3G, Eircom will get definitely get a 3G licence. VODAFONE have agreed in this circumstance to bid an additional amount for the 3G licence.

With regards to two directors in disagreement to the deal, this is true. However they have voiced opinions in private that they will sign up to the deal.

I am sure I will be accused of ramping this stock, but I have been given this information by a good friend who is privy to the above through his position in an Irish joint venture between Eircom and Ericsson. I would just say that all are entitled to take the above with a pinch of salt, and make their own minds up.

[Ines40]

04/12/2000 - 16:24 Eircom PLC [EIR] Dividend
RNS Number:1645V
Eircom PLC
4 December 2000

INTERIM DIVIDEND
SECURITY TITLE
*Ord Shs
MNEMONIC CODE *EIR
SEDOL CODE *723-147
DIVIDEND AMOUNT *Eur1.6c
PERIOD *01-04-00 to 30-09-00
PROVISIONAL EX DATE *11-12-00
RECORD DATE *15-12-00
PAYMENT DATE *19-01-01
NOTES *

[Ines40]

WSJ/Dow Jones ® on WSJ Tech Headlines on EIR.
http://www.aerocog.com/display_message.asp?mid=3250

[Ines40]

O`Brien and Eircom get into real talks
By RICHARD CURRAN, Business Editor
DENIS O`Brien`s eIsland consortium began its first substantive negotiations with Eircom yesterday in its bid to buy the fixed line business.

It is understood that advisers to both sides, along with Eircom chief executive Alfie Kane and Denis O`Brien, attended a three-hour meeting at the Conrad Hotel in Dublin.

Both sides signed confidentiality agreements, but it is understood that an accommodation has has not yet been reached on Eircom`s demand for a "standstill agreement".

This would basically prohibit eIsland from attempting to bid for Eircom or the fixed line specifically for a certain period of time, if these talks do not come to fruition.

It is understood that Eircom originally sought a two-year standstill, but that has now been pared back to the end of March. The O`Brien consortium is currently pushing for a standstill only until January.

The meeting marked the beginning of substantive negotiations on the bid for the fixed line business, and detailed finances and projected future profits for the division formed part of the agenda for discussion.

Meanwhile, Vodafone is understood to be reasonably satisfied with the detail of the 3G competition published yesterday by Etain Doyle, the telecommunications regulator.

However, the issue of the price being paid for Eircell has been placed firmly back on the table by Vodafone in the last two weeks.

The original price target of euro 5.1bn for Eircell is no longer being applied, as Vodafone seeks to offer a lower price, as a result of the fall in telecommunications shares including their own.

Vodafone shares closed at stg£2.67 in London yesterday, well below their price of stg£2.80 in late October when they reached a provisional understanding with Eircom on the Eircell price.

Vodafone would have to pay 50 million more of its shares than in late October, if it was to pay euro 5.1bn for Eircell.

The Vodafone/Eircell deal is expected to go ahead and could be announced within the next week to ten days.

[Ines40]

> Mr Alfie Kane: his proposal to hold on to some of the proceeds of the sale
> for corporate purposes are likely to be shelved following indications of
> lack of support from Comsource.
> Saturday, December 9, 2000
>
> Vodafone may pay less than euro5.1bn for Eircell
>
>
> By John McManus = Irish Times
> Vodafone is expected to pay significantly less for Eircell than the euro5.1
> billion that has been suggested to date. It is understood that negotiations
> between Eircom and the British group are now in their final stages and the
> price will be in the euro4.6 billion to euro5.1 billion range. An
> announcement is expected in the week before Christmas.
===================================

[Ines40]

More bidders eye eircom<EIR.I> fixed-line

Top Business News Index Sunday, December 10, 2000 12:38pm ET



More bidders eye eircom<EIR.I> fixed-line business


DUBLIN, Dec 10 (Reuters) - A bidding war is looming for the fixed-line operations of telecommunications group eircom Plc <EIR.L><EIR.N>, with up to three separate parties interested, Irish media reported on Sunday.

Paul Coulson, chairman of glass bottle maker Ardagh Plc <ARG.L><ARG.I>, has approached eircom about the fixed-line business, currently the target of a consortium led by entrepreneur Denis O`Brien, the Sunday Business Post and Sunday Tribune newspapers reported. Both newspapers said eircom had also received an approach from an unnamed foreign private equity house in the British telecommunications sector which is keen to tap into Ireland`s high-growth phone and data markets.

An eircom spokesman on Sunday declined to comment on the reports, which said the company would be discussing the approaches this week in a top-level board meeting.

However, senior telecoms industry sources in Ireland confirmed the reports of Coulson`s approach although they were sceptical about talk of a third, possibly British, consortium.

"That`s been doing the rounds for a while. As far as we can see, it`s now just O`Brien and Coulson in the frame," one said.

Eircom, formerly state monopoly Telecom Eireann, is gearing up for the possible sale of both its mobile and fixed-line businesses. The mobile sell-off is however more advanced.

The company said last week it hoped negotiations with Britain`s Vodafone Plc <VOD.L> on the sale of the Eircell mobile phone unit would be concluded within the next two weeks.

That deal could be worth up to five billion euros ($4.5 billion) although the recent fall in telecoms stocks has complicated talks and some analysts have suggested a price tag closer to 4.8 billion may be more realistic.

The fixed-line business is less valuable but will give the successful bidder access to Ireland`s biggest standard phone operation. O`Brien has bid 2.25 billion euros but eircom has already made clear that will have to be topped up.

Talks are continuing, described by senior telecoms industry sources as "workmanlike but encouraging".

Eircom shareholders will be hoping they can recoup some of the money pumped into the flotation last July. Then, the stock was offered in Dublin, London and New York at 3.90 euros/share.

[Ines40]

Corporate raiders circle Eircom
By RICHARD CURRAN
THE corporate raiders are circling around Eircom. Business people with an eye for an opportunity and access to millions of pounds can see the potential value at the former state company.

Paul Coulson is one such financier who saw a marvellous opportunity to make money from Eircom`s woes. A speculative exercise may be required, but based on what is known about Mr Coulson`s plan so far, it is possible to see how he was going to make a killing.

It`s late October. Mr Coulson approaches KPN about buying its 20pc stake in Eircom plc. KPN, the Dutch telecommunications giant, is heavily in debt, and has stated its intention to sell its Eircom stake.

Having bought in as part of the strategic alliance and paid the `claw-back` price to the Government after the Eircom float, KPN needs euro 2.55 per share to break-even on its total investment.

Eircom shares are trading at euro 2.63 on the 20th of October. They have moved to euro 3.00 on the 25th of October, the day it emerges that Denis O`Brien is making a euro 1.00 per share offer for Eircom`s fixed line business.

This is the same day that Eircom finalises its agreement in principle to sell Eircell to Vodafone for euro 5.1bn, or euro 2.31 per share.

Knowing that KPN wants out, and is likely to get euro 2.31 per share from the Vodafone deal, Mr Coulson could offer KPN, let`s say,, euro 1.00 per share for the rest. This would cost him euro 440m and provide the Dutch with a profit of 76 cents per share.

Mr O`Brien has offered euro 1.00 per share for the fixed line only, which excludes the multi-media element, valued at between 30 cents and 49 cents per share by analysts.

If Mr Coulson was successful in buying KPN`s stake, he could have stood to benefit from Mr O`Brien`s takeover bid. Everyone assumes eIsland will have to increase its bid from euro 1.00 per share.

Rather than be in competition with Mr O`Brien for the fixed line business as has been suggested, his plan may well have been to cash in on Mr O`Brien`s or anyone else`s bid, by buying KPN`s stake at a cheap price.

Mr Coulson and his backers would have become the biggest single shareholder in Eircom and therefore been entitled to board representation.

It seems that Mr Coulson made his first tentative approach to KPN and to Eircom`s advisers around "late October". We don`t know precisely whether it was before the 25th of October when the O`Brien offer emerged.

In reality it doesn`t really matter. Someone like Paul Coulson smells an opportunity and tries to make money from it. All he had to see was that with a Vodafone deal on the cards, and a Dutch shareholder clammering to get out, there was an opportunity.

And he was right. The talks may not have led to a deal with Mr Coulson because KPN could see that despite their desire to sell, they could get more money by hanging on for just a few months.

The battle of Eircom is far from over. The Vodafone deal will go ahead. As this newspaper first reported, the provisionally agreed price was euro 5.1bn.

And on Saturday, 2nd of December, we were first to report that Vodafone had placed the issue of price firmly back on the negotiating table after telecoms stocks had fallen sharply.

We estimated that Vodafone was seeking to pay around euro 500m to euro 650m less for Eircell. Recent rises in the Vodafone share price favour Eircom`s case for paying the higher price, but it is now unlikely to come out at the original euro 5.1bn price tag.

Substantive talk have begun between Denis O`Brien`s consortium and Eircom for the fixed line business. As it stands this morning, Denis O`Brien is still the only actual bidder for the fixed line business.

Eircom has not really articulated what its `formal strategy` is. The sale of Eircell and the negotiations on the sale of the fixed line business suggest that its strategy is a break-up.

But if the fixed line sale to Mr O`Brien does not go ahead, is Eircom`s strategy still for a break-up? Will the fixed line business carry a `for sale` sign?

[Ines40]

Irish Businessman Talked to KPN Over Eircom Stake, Paper Says
By Brian O`Neill

Dublin, Dec. 11 (Bloomberg) -- Irish businessman Paul Coulson held preliminary talks with Royal KPN NV of the Netherlands about buying its 20 percent stake in Eircom Plc, Ireland`s biggest phone company, Irish newspapers said without citing sources.

Coulson, the 48-year-old chairman of glassmaker Ardagh Plc, did not make a firm offer and the discussions ended last week, the papers said. KPN, the biggest Dutch phone company, said earlier this year it wanted to sell its stake in Eircom.

Coulson first expressed an interest in acquiring KPN`s stake in the whole of Eircom`s business at the end of October, when Eircom said it was in talks to sell its Eircell wireless unit to Vodafone Group Plc, the No. 1 mobile-phone company, the newspapers said.

Reports in three other newspapers at the weekend said Coulson plans to make an offer for Eircom`s fixed-line business. Denis O`Brien, another Irish businessman, is holding preliminary negotiations with Eircom about buying its fixed-line business and has offered 2.25 billion euros ($2 billion).

(Irish Independent 12/11 p.17; Irish Times 12/11 p.18)

[Ines40]

Eircom eyes post-Eircell sale revamp


SENIOR Eircom executives spent yesterday holed up in one of a series of meetings called to outline the future strategy for the company after its mobile wing, Eircell, is offloaded to UK giant Vodafone, the Irish Independent has learned.



The meeting, or `think-in`, is believed to have included discussions on the restructuring of the company in terms of both management and make-up. Eircom executives were not available for comment yesterday. However, sources close to the company said consolidation of the different parts of the telco is likely if and when the Eircell sale goes ahead.



Once the group sells the high-growth mobile division, it is left primarily with the low or non-growth, fixed line operation. The big strategy issue for Eircom is how it can deliver earnings growth for shareholders as a plc when the division with the most growth potential has been sold.



Apart from Eircell, Eircom is also made up of a number of parts including fixed line, internet and multimedia (which includes the biggest internet service provider here, Eircom.net), the directory business including the Golden Pages and a number of consultancy and services subsidiaries.



And although multimillionaire entrepreneur Denis O`Brien has already expressed an interest in the fixed line business, a firming up of a deal has yet to happen. Late last year, O`Brien said he was willing to pay euro 2.25bn, or euro 1 per share, for the Eircom fixed line business - but it is generally expected that he will have to offer more before the telco bites the bait.

http://www.unison.ie/stories.php3?paper_name=Unison_News&sto… d=3715&title_id=41&i_date=2001-01-15&picture=0&category=119