Vodafone Share News (VOD)

LONDON (Alliance News) - The following is a summary of top news stories Monday.
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COMPANIES
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Vodafone Group PLC confirmed that it will acquire Grupo Corporative Ono S.A for EUR7.2 billion, as part of its strategy to build a unified communications provider in Spain. The company said it expects to achieve cost and capex synergies from the acquisition of the Spanish network, with a run-rate of around EUR240 million before integration costs by the fourth full year after the acquisition is completed. Vodafone estimates it will see revenue synergies with a total net present value of around EUR1.0 billion. Ono has a network of around 7.2 million homes, and serves 1.9 million customers in 13 regions of Spain, Vodafone said. It is the only fibre operator with national coverage in Spain that provides services to both homes and businesses.
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Bunzl PLC said it has acquired Lamedid Comercial e Servicos Ltda in Brazil. The distribution and outsourcing firm said the acquisition will help it expand its footprint in the Brazilian healthcare market. Lamedid is principally engaged in the supply and distribution throughout Brazil of own label medical and healthcare consumable products to hospitals, clinics and laboratories as well as to distributors. For the last full-year to December 31, 2013, Lamedid recorded revenue of GBP12 million. Bunzl didn't provide the acquisition price or other transaction details.
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Glencore Xstrata PLC is on the edge of reaching a deal on the multibillion dollar sale of its Las Bambas Peruvian copper project to a Chinese consortium, according to a report in the Wall Street Journal. The newspaper said that, according to people familiar with the matter, the mining giant could announce the deal, with a Chinese consortium headed by state-controlled Chinese copper company China Minmetals Corp, as early as Tuesday. The Wall Street Journal said that the consortium and Glencore are set for a final meeting on Tuesday in London with the aim of signing an agreement over the deal, which is expected to be for more than USD5 billion.
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Caracal Energy Inc announced a proposed merger with Canada-based TransGlobe Energy Corp to create a major African-focused oil producer. The oil and gas exploration and development company said the two parties have entered an agreement to merge by way of an exchange of shares based on March 14 closing prices, creating a company with a combined market capitalisation of roughly USD1.8 billion.
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Essar Global Fund Ltd late Friday reaffirmed its offer for the remainder of Indian oil company Essar Energy PLC at a price of 70 pence per share, the same price which Essar Energy's independent directors said in February undervalues the business. The directors immediately Friday responded by repeating their rejection of the offer. Essar Global Fund Ltd already owns 76.72% of Essar Energy, plus a further 1.3% interest. The offer is for 70 pence per share, which it said is a premium of 17% on Essar Energy's closing price of 60 pence February 13. Essar Energy shares were quoted at 66.75p at the open Monday.
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MARKETS
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UK stocks are up as global markets appear to take the expected result from a referendum in Crimea in their stride.
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FTSE 100: up 0.4% at 6551.93
FTSE 250: up 0.6% at 16221.49
AIM ALL-SHARE: up 0.1% at 870.47
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The euro is down against the dollar following a drop in consumer inflation, while gold has slightly eased from its six-month high
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GBP-USD: down at USD1.6627
EUR-USD: down at USD1.3693

GOLD: down at USD1380.16 per ounce
OIL (Brent): down at USD107.61 a barrel

(changes since end of previous GMT day)
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ECONOMICS AND GENERAL
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Eurozone inflation slowed in February to the level last seen in October, final data from Eurostat showed. Inflation fell to 0.7% in February from 0.8% in January.
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Residential property prices in the UK rose to an all-time high in March as the ongoing economic recovery and a favourable mortgage market boosted demand, while rising prices lured more sellers back into the property market. The average asking price of a UK house advanced 1.6% in March from the prior month, marking the third month of increase in a row, figures published by property tracking firm Rightmove showed. However, the growth rate was lower than February's 3.3%. The average asking price for a new property coming to market climbed to GBP255,962 from GBP25,1964 in February, setting a new record. The previous peak was GBP253,658 set in July last year.
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British manufactures' business outlook for this year climbed to record high, with employment growth seen accelerating significantly, reflecting the broad nature of the economic recovery, a survey by manufacturers' organization EEF and accountancy firm BDO revealed. Surveyed manufacturers said they expect both output and new orders record stronger growth in the first quarter than in the final months of last year, with the electronics, motor vehicles and electrical equipment sectors recording the biggest improvement in activity.
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The EU's foreign ministers were set to consider punishing Moscow with sanctions over its actions in Crimea, one day after the Ukrainian peninsula voted to join Russia in a referendum. The US has already imposed visa restrictions on Russians and Crimeans accused of threatening Ukraine's stability, while the EU has suspended negotiations with Moscow on a new cooperation agreement and the easing of visa rules. The bloc's leaders have also threatened travel bans, asset freezes and the cancellation of a June EU-Russia summit if Moscow does not tone down tensions in Ukraine.
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More than 95% of Crimeans voted for the Ukrainian region's accession to Russia in a controversial referendum on Sunday, according to preliminary results. The Black Sea peninsula's secession was supported by 95.5%, while just 4.5% voted for Crimea to remain an autonomous republic inside Ukraine, election authorities said after half of the votes were counted, according to Russian media. Turnout was almost 83%, the reports said. A final result was expected Monday.
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Ukrainian lawmakers backed a decree by interim President Oleksandr Turchynov to partially mobilize the country's armed forces. The mobilization means that 40,000 reservists will be called up, 20,000 each by the armed forces and the national guard, Andriy Parubiy, the head of the Ukraine's security council, told parliament, according to local media. The move comes on day after Crimeans voted to join Russia in a controversial referendum.
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The Chinese government is set to allow its currency, the renminbi or yuan, to fluctuate more widely against the dollar in the latest sign that the country is loosening its grip on the economy. China's Central Bank said that beginning on Monday, the daily trading band would double to 2% on either side of a government-regulated parity rate, which could result in wider price fluctuations. "The widening is within rational range and is a tentative step towards the liberalization of the yuan's exchange rate," said Yi Xianrong, a senior financial researcher at the Chinese Academy of Social Sciences.
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China unveiled measures to speed urbanization in a bid to provide impetus to economic growth through lifting income and consumption among rural residents. In its urbanization plan for 2014-2020, the government said Sunday it will reform "hukou" registration, and improve water safety as well as air quality. The "hukou" a complex household registration system discourages rural residents to move and settle in urban areas. Easing controls on residency status will unlock huge income potential and raise domestic demand.
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China sharply criticized Malaysia for its handling of an investigation into the disappearance of a commercial aircraft with 239 people aboard nine days ago. The criticism came as a Malaysian police source ruled out a connection between the pilot's political affiliations and the disappearance of Malaysia Airlines flight MH 370. China's official state news agency Xinhua said valuable time was lost due to the "lack of authoritative information" about what happened to the aircraft, which had radically changed course and had its communication system deliberately turned off.
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Malaysia is to deploy its ships and aircraft in the "southern corridor" as it refocused its search operations for the missing Malaysia Airlines jet, which disappeared more than a week ago. The area in question stretches approximately from Indonesia to the southern Indian Ocean. The refocus in search and rescue operations came after Prime Minister Najib Razak announced Saturday that the plane's communication system was intentionally disabled and the aircraft flew for up to seven hours toward an unknown destination. Malaysia's announcement that it would deploy its assets in the southern corridor came as Australia's Pirme Minister Tony Abbot said his country had agreed to take the lead in the search and rescue operations in the Indian Ocean.
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US President Barack Obama is to meet Palestinian President Mahmoud Abbas Monday just a few weeks before an important deadline in the Middle East peace process. Obama and Abbas are expected to discuss the difficult peace negotiations and the inability of the parties to achieve an agreement. Their talks follow a visit to Washington earlier this month by Israeli Prime Minister Benjamin Netanyahu. US Secretary of State John Kerry set the stage for Abbas' meeting with Obama on Sunday when he held a "frank and productive" discussion with Abbas about reaching a framework for negotiations in Middle East peace talks, according to a statement released by a senior State Department official.
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Syrian government troops have seized control of Yabroud, a strategically important rebel-held town 75 kilometres north of the capital Damascus, a source from the Syrian military said Sunday. The military source told Syrian state news agency SANA that "troops fully control Yabroud town in rural Damascus and are currently combing the city, removing and dismantling car bombs and roadside explosives planted by terrorists." The Syrian government refers to all rebels fighting to overthrow the regime of President Bashar al-Assad as terrorists.
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