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Vodafone sells Fiji stake for GBP 51 mln
2014-07-01 08:49:00| Telecompaper Headlines
(Telecompaper) Vodafone is exiting the Fiji market. The company agreed to sell its remaining 49 percent stake in Vodafone Fiji to the Fiji National Provident Fund for FJD 160 million (GBP 51 million). This gives the latter 79 percent of the company. Vodafone said it will continue a partner market agreement in Fiji. The company last reported 365,000 mobile customers in Fiji at the end of March.
Cirrus Logic to buy Wolfson for GBP 291 mln
2014-04-29 12:05:00| Telecompaper Headlines
(Telecompaper) Cirrus Logic has agreed to acquire the audio chips specialist Wolfson Microelectronics for GBP 291 million. Cirrus Logic will pay 235 pence per Wolfson share, a 75.4 percent premium on the share price the day before the deal was announced. Wolfson's board has recommended the offer to shareholders, and its directors agreed to tender their shares to Cirrus Logic. Odey Asset Management, which holds 5.88 percent of Wolfson, has also accepted the bid. With a diverse analogue and signal-processing patent portfolio, Texas-based Cirrus Logic delivers highly optimised products for a variety of audio and energy-related applications. It will fund the takeover with existing cash and a new bank credit agreement. The acquisition is expected to strengthen its catalogue of audio products and expand its customer base, while also adding new software features and products such as MEMS microphones. Wolfson will increase its annual sales by around a quarter. Pending shareholder and regulatory approval, the takeover is expected to close in the second half of the year.
EE revenue falls 3.6% to GBP 1.55 billion in Q1
2014-04-28 09:25:00| Telecompaper Headlines
(Telecompaper) UK operator EE reported turnover down 3.6 percent to GBP 1.55 billion in the first quarter, compared with the first quarter of 2013, hurt by mobile call termination and roaming price cuts. Mobile ARPU grew 2.2 percent, with the percentage of ARPU from data (non-text) revenue growing by 11 percentage points to 47 percent. EE's first quarter operating revenue decreased by 1.7 percent to GBP 1.49 billion. The EE network had 30.7 million users at the end of March, including 3.66 million MVNO customers, up 3.2 percent on last year. The operator boosted its 4G customer base by 889,000 in the quarter to a total of 2.9 million. It said it was on target to exceed 6 million 4G customers by the end of the year.
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ICI Pension Fund Trustee Agrees GBP 3.6 Bn Annuity Buy-In
2014-03-26 06:00:00| Coatings World Breaking News
ARM Q4 revenues advance 15% to GBP 189 mln
2014-02-04 09:24:00| Telecompaper Headlines
(Telecompaper) ARM Holdings presented fourth quarter revenues up 15 percent from the year before to GBP 189.1 million. Technology Licensing revenue rose 28 percent to GBP 80.2 million, with Processor Licensing revenue up 27 percent to GBP 67.7 million and Physical IP revenue up 29 percent to GBP 12.5 million. Normalised profit before tax lifted 19 percent to GBP 95.5 million while earnings per share advanced 30 percent to 5.3 pence. IFRS profit before tax sank 79 percent as a result of an exceptional charge, with the IFRS loss per share at 0.4 pence compared to EPS at 3.0 pence the year earlier. The company increased its full year 2013 dividend by 27 percent to 5.7 pence. ARM signed 26 processor licences for a broad range of applications from smartphones and mobile computers to medical devices, wearables and the Internet of Things, one ARMv8 architecture licence and two ARMv8 processor licenses. Shipments of chips based on ARM processor technology reached 2.9 billion in the quarter, up 16 percent year-on-year. ARM said it was entering the new year with a strong opening order backlog and a healthy pipeline of licensing opportunities. The company's full year processor royalty revenue grew faster than the overall semiconductor industry (+18 percentage points), dampened by slower sales of chips for high-end smartphones in the second half. Despite slower growth in one end market, the company expects FY 2014 processor royalty revenues to grow at a similar rate to that reported over the last three years.
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