Japanese telecom gaint Softbank recorded a loss of $350 million for last nine months of 2016 in the fair value of the Company’s investments in India. The loss comes on top of a $555 million writedown on the value of Softbank’s India portfolio in the six-month period ending September 2016. “With reference to the current markdown, portfolio…
European regulators are stepping up their investigation into Orange’s planned acquisition of Jazztel after competition remedies proposed by the telcos failed to meet their approval, it emerged this week.
The European Commission is likely to announce that it will undertake an in-depth investigation into the proposed €3.4 billion takeover later this week, Reuters reported on Wednesday, citing unnamed sources familiar with the situation.
The Commission was unsatisfied with the concessions Orange and Jazztel submitted last month and as a result the pair are under pressure to suggest more possible measures to protect competition in the event of their merger, the newswire said.
Orange announced its €13-per-share cash offer for 100% of Spanish fixed-line provider Jazztel in September. The move will enable it to boost its position in the Spanish telecoms market, where companies are increasingly offering fixed and mobile bundles. Incumbent operator Telefonica is strong in both markets, while Vodafone in July completed a €7.2 billion acquisition of cable provider Ono, increasing its fixed-line customer base to around 3 million. Original post at Total Telecom