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Pin to quick picksVodafone Share News (VOD)

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Telecom Italia may revive Metroweb talks after Vodafone move-sources

Wed, 25th Mar 2015 17:41

* Telecom Italia may give nod to restarting talks onThursday

* Battle for Metroweb key to Italy's digital plans

* Vodafone also eyeing stake in Metroweb

MILAN, March 25 (Reuters) - Telecom Italia mayrevive talks to take over fixed-line broadband provider Metrowebthis week after rival Vodafone made a fresh attempt tobuy a stake in the group, two sources close to the matter said.

Metroweb is a small firm which rents out fibre optic cablesbut Prime Minister Matteo Renzi considers the partly state-ownedcompany as a building block for a 12 billion euro ($13 billion)plan to roll out high-speed networks in Italy.

Buying a stake in Metroweb, which owns the biggestfibre-optic network in Italy's business capital Milan, couldultimately determine who calls the shots in themulti-billion-euro plan.

Telecom Italia board directors will meet on Thursday inVenice to review the situation after talks to buy a stake inMetroweb collapsed earlier this year due to disagreements overthe ownership structure of the deal.

"There could be an opportunity (to resume talks)," one ofthe sources said, asking not to me named because no formaldecision had yet been taken.

The battle for Metroweb comes as the Italian governmentpushes to modernise its increasingly decrepit broadband systemand speed up the roll-out of ultrafast networks to help itsailing economy.

Both Telecom Italia and Vodafone, which competes with theformer phone monopoly for the top rank in the mobile market,have set their sights on Metroweb as they seek to meet growingconsumer demand for bandwidth-consuming services.

Telecom Italia is interested in securing a 51 percent stakebut Chairman Giuseppe Recchi said in February the board hadconcluded conditions were not yet right for an agreement.

Vodafone last week signed a non-disclosure agreement overMetroweb, formally opening negotiations to buy a stake andputting pressure on Telecom Italia to reconsider its stance.

Telecom Italia declined to comment.

The British company previously said there could be risks tocompetition if other operators are not allowed to take a stakein Metroweb and have a say over its strategic decisions. (Reporting by Danilo Masoni and Stefano Rebaudo; Editing byDavid Holmes)

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Vodafone Group PLC - Berkshire, England-based telecommunications provider - Chair Jean-Francois van Boxmeer buys 823,500 shares at GBP0.69 each, worth GBP568,215, in London on Wednesday.

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Vodafone Germany to cut 2,000 jobs in revamp

FRANKFURT, March 26 (Reuters) - Vodafone Germany aims to save around 400 million euros ($434.48 million) over the next two years as part of a restructuring that will hit some 2,000 jobs, the company said on Tuesday.

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26 Mar 2024 11:15

UPDATE: Vodafone Germany cuts 2,000 jobs as part of savings programme

(Alliance News) - Vodafone GmbH is cutting and relocating around 2,000 jobs in a bid to save EUR400 million in the next two years, the Dusseldorf, Germany-based subsidiary of Vodafone Group PLC announced on Tuesday.

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26 Mar 2024 10:43

Vodafone Germany: 400-mln-eur restructuring to affect 2,000 jobs

BERLIN, March 26 (Reuters) - Vodafone Germany said on Tuesday that it aims to save around 400 million euros ($434.48 million) over the next two years as part of a transformation programme that will affect some 2,000 jobs.

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(Alliance News) - Vodafone GmbH is cutting and relocating around 2,000 jobs in a bid to save EUR400 million in the next two years, the Germany, Dusseldorf-based subsidiary of Vodafone Group PLC announced Tuesday.

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(Sharecast News) - London's stock markets closed in a mixed state on Friday as investors weighed optimistic retail sales data against remarks from Bank of England Governor Andrew Bailey.

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LONDON MARKET MIDDAY: FTSE 100 boosted after week of rate decisions

(Alliance News) - The FTSE 100 in London were higher at midday on Friday, as investor sentiment remained high, after there were no surprises from UK and US central banks this week.

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TOP NEWS: UK CMA says Vodafone/Three merger raises competition worries

(Alliance News) - The UK Competition & Markets authority on Friday said a planned merger between Vodafone UK and Three UK could raise consumer prices and harm investment into UK mobile networks.

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CMA warns Vodafone, Three deal will face full probe if solutions not given

(Sharecast News) - Vodafone and Three UK have been told to find ways to assuage Britain's competition regulator that their planned $19bn merger would not leave consumers worse off or face a full investigation.

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Director dealings: Vodafone CFO makes share purchase

(Sharecast News) - Vodafone Group revealed on Monday that chief financial officer Luka Mucic had acquired 2.46m ordinary shares in the FTSE 100-listed telecommunications giant.

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IN BRIEF: Vodafone CFO buys 2.5 million shares for GBP1.7 million

Vodafone Group PLC - Berkshire, England-based telecommunications provider - Group Chief Financial Officer Luka Mucic purchased 2.5 million shares on Friday in London at 69.64 pence each for GBP1.7 million in total. Vodafone also on Friday announced the sale of its Italian business to Swisscom AG for EUR8 billion, with EUR4 billion to be returned to shareholders through a buyback. It said, however, that annual dividends from financial 2025 onwards will be rebased to 4.5 euro cents, down from 9.00 cents for financial 2024.

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