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Eurobites: Prysmian to Buy General Cable for $3B

Paul Rainford
12/4/2017
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Also in today's EMEA regional roundup: Blackberry loses patents case to Nokia; Telecom Italia looks at fixed-line network; Tele2 goes with Infobip for enterprise messaging.

  • Italian cable systems firm Prysmian SpA is to acquire Kentucky-based General Cable for $30.00 per share in cash, which equates to a transaction value of approximately $3 billion, including debt and certain other General Cable liabilities. Prysmian hopes to boost its presence in North America through the deal, which is expected to close in the third quarter of 2018. It is anticipated that the combined group will rack up sales of more than 11 billion ($13 billion) and adjusted EBITDA of approximately 930 million ($1.1 billion) for the year ended September 30, 2017.

  • Nokia Corp. (NYSE: NOK) has won a patents battle with BlackBerry , the International Court of Arbitration ruling that the once-mighty Canadian mobile phone maker must pay Nokia around $137 million. According to Nokia, the decision confirms that BlackBerry failed to make certain payments under a patent license agreement between the parties. For its part, BlackBerry says it still believes Nokia is infringing its intellectual property and will continue to "vigorously pursue" legal remedies to its beefs in both the US and Germany.

  • Telecom Italia (TIM) 's board is to meet this week to discuss what's to be done with its fixed-line network, with the option to split it off still on the table, according to a Reuters report. The issue has become more urgent since French media conglomerate Vivendi has gained effective control of the Italian incumbent, the report adds. (See Telecom Italia Drama: What Is Vivendi Up To?)

  • Sweden's Tele2 AB (Nasdaq: TLTO) is to roll out Infobip's messaging platform to its business customers in five countries. Infobip provides a single-platform portal to various communications channels, including SMS, email, Viber and Facebook Messenger. Infobip was founded a decade ago and now has more than 50 offices across six continents.

  • Orange (NYSE: FTE) has announced the open source release of its OCast software, which allows smartphone users to play mobile video content on the their TVs. Orange says that all operators offering TV access will be able to offer their customers a range of mobile apps to "cast" videos onto their TV by including OCast in their set-top boxes.

  • T-Hrvatski Telekom , Deutsche Telekom AG (NYSE: DT)'s Croatian unit, has embarked on a rollout of fast-charging stations for electric vehicles with two chargers in Croatia's capital, Zagreb. This initial phase is being carried out in cooperation with Kaufland Croatia. Ultimately, T-Hrvatski will install 69 fast and four "ultrafast" e-chargers at 31 locations across Croatia and Romania.

    Paul Rainford, Assistant Editor, Europe, Light Reading

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