Info Tech
Deutsche Telekom to Pay $1.1 Billion in Czech Unit Buyout
BERLIN – Deutsche Telekom AG (DTE) agreed to acquire full ownership of its Czech unit, betting on a recovery in eastern European telecommunications, a market that contributes almost a quarter of the German carrier’s revenue.
The owner of the T-Mobile brand will pay 828 million euros ($1.1 billion) for the remaining 39.2 percent stake in the Czech unit from Falcon Group led by Mid Europa Partners LLP, according to a statement from the private-equity firm. The transaction won’t require regulatory approval, Bonn-based Deutsche Telekom said in a separate release.
The buyout is part of Chief Executive Officer Timotheus Hoettges’s strategy to broaden Deutsche Telekom’s reach in eastern Europe. With assets stretching from the U.K. to the Balkans, the carrier agreed to acquire Warsaw-based landline provider GTS Central Europe in November and has offered to purchase an additional 10 percent stake in Hellenic Telecommunications Organization SA (HTO) from the Greek government, people familiar with the talks said last month.
While revenues have been declining in the Czech Republic, the country’s mobile data market “has good potential as it is still less saturated than in western Europe,” Tomas Mencik, a Prague-based analyst at Cyrrus AS, said by phone.
Integrated Network
The purchase gives T-Mobile Czech Republic an enterprise value equivalent to about five times its earnings before interest, taxes, depreciation and amortization, according to Deutsche Telekom spokesman Andreas Leigers, who cited projections for the unit’s fourth-quarter earnings. The division has almost no net debt, he said.
Deutsche Telekom shares declined 0.7 percent to 11.68 euros at 2:18 p.m. in Frankfurt, giving the company a market value of 52 billion euros. They dropped 5.4 percent this year through Feb. 7.
Claudia Nemat, who heads the company’s European operations, is scheduled to host a press event at the Macedonian capital of Skopje on Feb. 13 to present the company’s progress in developing an integrated network in the region.
“The purchase of the remaining shares is a logical step to optimize our portfolio and helps our development into the leading pan-European telecommunications provider,” Nemat said in the statement.
Flexible Management
The carrier has offered mobile services in Germany’s eastern neighbor since 1996, according to its website. The Czech company had 5.7 million wireless customers and 119,000 landline connections at the end of the third quarter, and revenue fell 16 percent to 229 million euros during the period.Falcon Group is 75 percent owned by Mid Europa. The T-Mobile stake was part of a 1.2 billion-euro leveraged buyout of Czech phone company Radiokomunikace AS by Lehman Brothers Holdings Inc. and Mid Europa in 2006. It was the largest such deal in the Czech Republic at the time.
The transaction is expected to be completed by the end of February, according to Mid Europa.
“Having full control gives them more flexibility in managing the company and creating competitive offers,” said Konrad Ksiezopolski, an analyst at Espirito Santo Investment Bank. Deutsche Telekom may also consider buying out minority shareholders in Hungary and Slovakia, he said.
Telefonica’s Strategy
Leigers said Deutsche Telekom doesn’t have concrete plans for more buyouts. The German company is interested in purchasing a majority stake in Telekom Slovenije, which the Slovenian government plans to sell by the end of the year, Handelsblatt reported last week.
While Deutsche Telekom is investing more in eastern Europe, Telefonica SA (TEF) has reduced its exposure. The Spanish carrier last month completed a 2.5 billion-euro sale of its Czech business to PPF Group NV. Hoettges, who became Deutsche Telekom’s CEO on Jan. 1, is renewing predecessor Rene Obermann’s push into eastern Europe after the company’s U.S. business returned to growth following its merger with MetroPCS Communications Inc. Excluding the German home market, eastern Europe accounted for 22 percent of Deutsche Telekom’s net revenue in the first nine months of 2013. The company is scheduled to release fourth-quarter earnings March 6.
The carrier plans to eliminate thousands of jobs at its T-Systems corporate-client unit as it trims outsourcing services with low profitability and refocuses on growth areas such as connected cars and cloud computing.
Credit Suisse Group AG advised Deutsche Telekom, with Clifford Chance LLP acting as legal adviser.
– BLOOMBERG
In efforts at spicing up the 2023 ITREALMS E-Waste Dialogue, the management of ITREALMS Media has partnered with E-waste Producer Responsibility Organization of Nigeria (EPRON) membership organisations for a day-long collection scheme of small electronic waste on Friday, December 15, 2023.
The EPRON members aligning their partnership with 2023 ITREALMS E-Waste Dialogue are EL-AS Tech Enterprises Limited and WEEE Eco-Friendly.
ITREALMS’ day-long collection scheme is part of the commemoration of 2023 international E-Waste Day (IEWD) within the ITREALMS E-Waste Dialogue with the theme “You Can Recycle Anything with a plug, battery or cable” at Welcome Centre Hotels, International Airport Road, Lagos.
Revealing this collaboration, the Group Executive Editor, ITREALMS Media, the organisers of the 2023 ITREALMS E-Waste Dialogue, Sir. Remmy Nweke, urged mobile device enthusiasts to come along with their devices that have reached their end-of-life to the venue for proper disposition by professionals who would also be on grounds to address some topical issues.
The collection of small electronic wastes especially mobile phones and like-devices, would be carried out by EPRON member organisation, EL-AS Tech Enterprises Limited as facilitated by ITREALMS Media group as part of this year’s ITREALMS E-Waste Dialogue on Friday, December 15, he added.
He disclosed that the exercise would commence at Welcome Centre Hotel by 9am till close of work hours the same day.
Nweke pointed out that the collection of small e-waste items would include mobile phones, pointers mouse, earpieces, rechargeable torches, phone chargers, to name a few.
Further, he said, that this initiative has become time-serving because some people may have missed any other opportunity before now for the year-long campaign, hence this awareness on e-Waste has to be continuous, “ITREALMS came up with this scheme.”
Nweke beckoned on Nigerians, especially mobile phone users, to leverage the opportunity in disposing of their mobile devices they no longer use, of course in exchange for a voucher or gift item.
In her reaction to this year’s day-long small waste collection, EPRON Executive Secretary, Mrs. Ibukun Faluyi, described the initiative as commendable, expressing confidence it would intensify the collection of end-of-life devices for proper disposition.
Mrs. Faluyi, also urged Nigerians to take advantage of this day-long collection of small wastes courtesy of ITREALMS Media.
Recalling for instance that in October 2022, EPRON had partnered SLOT alongside some UN agencies for collection of small e-waste items in Lagos, including the United Nations Information Centres (UNIC), United Nations Industrial Development Organization (UNIDO), International Labour Organisation (ILO), Lagos Waste Management Authority (LAWMA) and Lagos State Environmental Protection Agency (LASEPA).
This is even as the Executive Vice Chairman of the Nigerian Communications Commission (NCC) Dr. Aminu Maida and Director-General, National Environmental Standards and Regulations Enforcement Agency (NESREA), Prof. Aliyu Jauro, would both lead speakers at the 2023 ITREALMS E-Waste Dialogue slated for this Friday, December 15, in Lagos.
Today, September 12, the tech corporation Apple will introduce the iPhone 15, their newest iPhone model.
According to a Forbes story, this model, which will be introduced at the company’s “Wanderlust” event in Cupertino, California, will be available in four variations: the iPhone 15, iPhone 15 Plus, iPhone 15 Pro, and iPhone 15 Pro Max.
Here are five things you should know about the new iPhone 15 model.
1. The new model is made of titaniu, not stainless steel as some other Apple smartphone models, Senior research analyst at DIGITIMES, Luke Lin reports.
2. The Pro Max model will feature double the optical zoom on the iPhone 14 as it comes with a newly-introduced ‘periscope lens upgrade, performing 5-6x optical zoom.’
3. The Pro models will carry an A17 bionic chip expected to make it perform faster.
4. The iPhone 15 model will feature a USB-C charging port, the same port featured on some Android phone models.
5. Due to its titanium shell, the new model is anticipated to be more expensive to purchase. The following is the speculated price list, as reported by Forbes:
The iPhone 15 starts at $799, the iPhone 15 Plus at $899, the iPhone 15 Pro at $1,099 ($100 increase), and the iPhone 15 Pro Max at $1,299 ($200 increase).
In an effort to reduce the exorbitant cost of Premium Motor Spirit, better known as petrol, the Infrastructure Bank Plc announced its collaboration with FEMADEC Group on Monday to offer 500 buses powered by autogas (Compressed Natural Gas).
Partners in the agreement claimed that the project was created to provide citizens with dependable, affordable, and environmentally friendly travel options, taking into account the negative effects of the nationwide increase in PMS costs.
Under Decree No. 51 of the Federal Republic of Nigeria’s 1992 Constitution, the Infrastructure Bank, originally known as the Urban Development Bank of Nigeria Plc, was founded in 1992 to promote the quick development of infrastructure throughout the nation.
In a statement issued in Abuja on its partnership with FEMADEC, the bank said, “The preliminary offer extended by TIB lays a solid foundation for the expansion of FEMADEC Group’s CNG bus fleet.
“With plans to introduce 500 CNG buses within the next five years, commencing with an initial batch of 50 buses in the forthcoming year, this proposal stands poised to instigate significant change.
“The acceptance of this proposition by FEMADEC Group, notably championed by Fola Akinnola, the Group Chief Executive Officer, is a testament to their zeal and dedication to this alliance.”
The bank described the partnership as a “pivotal endeavour that is primed to redefine Nigeria’s public transportation landscape, offering dependable, cost-effective, and ecologically conscious travel alternatives for citizens, while harmonising with the nation’s broader sustainability ambitions.”
“This partnership represents a remarkable stride towards a more ecologically aware future for Nigeria’s transportation sector, highlighting the shared commitment of both TIB and FEMADEC Group to sustainable advancement and progress.”
It said FEMADEC Group’s strides in operating Compressed Natural Gas buses, including the existing fleet of 20 CNG buses under LAMATA, underscored their unwavering dedication to ecologically sound solutions, a commitment predating the fuel subsidy removal.
“Their leadership within the CNG value chain is undeniable, and the new alliance with TIB underscores their foresight.
“This partnership seamlessly aligns with TIB’s sustainability objectives, echoing their resolute endorsement of the government’s net-zero and climate change agenda.
“The bank’s aspiration to champion Nigeria’s infrastructure progress is evident in its endorsement of pivotal initiatives like this, yielding expansive positive impacts on both the environment and society,” the bank stated.
The bank added that it would continue to make a significant contribution to the country’s growth as a leading financial institution committed to advancing effective and long-lasting infrastructure projects.
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