Reform Commissioner tipped for top bank job

first_imgTHE civil service reform commissioner has been tipped to take charge of the board of directors of Hellenic Bank.Irena Georgiades was appointed reform commissioner in April but reports said yesterday she would be taking over from Andreas Panayiotou as chairperson of Hellenic Bank.The lender successfully completed its recapitalisation through private funds in November 2013 after three major investors poured in €100 million, taking 75 per cent of the share capital.Cyprus-based online game developer and publisher Wargaming Net and American hedge fund Third Point got a 30 per cent stake each by putting in €40 million apiece. Cypriot investment company Demetra received 15 per cent with €20 million.The lender said yesterday it was close to selling its Russian subsidiary.Hellenic said the transaction, which is subject to the approval of the Central Bank, was in line with the group’s strategy for more efficient management of available resources, planning, and active management of risks.You May LikeLivestlyChip And Joanna’s $18M Mansion Is Perfect, But It’s The Backyard Everyone Is Talking AboutLivestlyUndoPopularEverythingColorado Mom Adopted Two Children, Months Later She Learned Who They Really ArePopularEverythingUndoGundry MD PrebioThrive Probiotic SupplementCardiologist: This Is What Happens When You Eat GlutenGundry MD PrebioThrive Probiotic SupplementUndo Pensioner dies after crash on Paphos-Polis roadUndoCruise passenger airlifted to Paphos hospitalUndoRemand for pair in alleged property fraud (Updated)Undoby Taboolaby Taboolalast_img read more

Lakkotrypis heads to US for energy meetings

first_imgEnergy Minister Giorgos Lakkotrypis leaves on Saturday for the US for a series of meetings in Washington, New York and Boston.Lakkotrypis will on Monday meet y in Washington with US Secretary of State responsible for Energy Diplomacy Amos Hochstein. On the same day, he will present developments in oil issues in the Eastern Mediterranean to the influential think tank German Marshall Fund and Atlantic Council.On Tuesday, the minister will continue his contacts in the capital, with separate meetings with members of the Board of the American-Israeli Public Affairs, Committee and the American Jewish Committee.On Wednesday. Lakkotrypis will be the keynote speaker at a business forum jointly organised in New York by the ministry, the Cyprus Chamber of Commerce and the Cyprus Investment Promotion Agency.The visit will end Friday with the participation of an open debate on energy geopolitical issues, which will be held in Boston, at the School of Law and Diplomacy of the FletcherTufts University and a second one at the Centre for European Studies at the University of Harvard.He returns to Cyprus Sunday, March 15. You May LikeLivestlyChip And Joanna’s $18M Mansion Is Perfect, But It’s The Backyard Everyone Is Talking AboutLivestlyUndoPopularEverythingColorado Mom Adopted Two Children, Months Later She Learned Who They Really ArePopularEverythingUndoYahoo SearchYou’ve Never Seen Luxury Like This On A Cruise Ship. Search Luxury Mediterranean CruisesYahoo SearchUndo Pensioner dies after crash on Paphos-Polis roadUndoCruise passenger airlifted to Paphos hospitalUndoRemand for pair in alleged property fraud (Updated)Undoby Taboolaby Taboolalast_img read more

Fraudsters claiming to be from fraud control take pensioners cash

first_imgPolice on Wednesday warned the public to be cautious of people coming to the door claiming they are from the authorities after an 81-year-old woman was fooled into handing over her cash to two women claiming to be from ‘fraud control’.The incident happened in Limassol on Tuesday afternoon when two women showed up at the woman’s door and asked for her bank notes to check they were not counterfeit, and they would return them later. They did not say how much the scammers were given.According to the description given to police, the two women were of medium build while one had blonde hair and the other dark hair.“Police request the public and especially the elderly to be very careful and in the event that one of these persons approaches them, not to trust them and to inform the Police immediately at the number 1460 or their nearest police station,” a statement said.You May LikePopularEverythingColorado Mom Adopted Two Children, Months Later She Learned Who They Really ArePopularEverythingUndoLivestlyChip And Joanna’s $18M Mansion Is Perfect, But It’s The Backyard Everyone Is Talking AboutLivestlyUndoComparisons.org2019: Little-Known Rule in Rowland Heights, CAComparisons.orgUndo Pensioner dies after crash on Paphos-Polis roadUndoCruise passenger airlifted to Paphos hospitalUndoRemand for pair in alleged property fraud (Updated)Undoby Taboolaby Taboolalast_img read more

Home values most commercial property prices rise in Q1 RICS says

first_imgProperty prices in Cyprus rose in all asset classes except retail in the first three months of the year, compared with the last quarter of 2015, as rents increased in all categories, the Royal Institute of Chartered Surveyors said.From January to March, prices for houses and flats rose 1.5 per cent and 1.2 per cent compared with the last quarter of 2015 respectively, the Cyprus division of RICS said in an emailed statement on Wednesday. Buyers of offices and warehouses paid in the first quarter 1.5 per cent and 1.2 per cent more compared with the October to December, while those who bought retail properties paid 0.5 per cent less. Flat prices in Famagusta and house prices in Paphos rose 4.1 per cent and 5.6 per cent respectively, which was the largest increase in the respective category island-wide.Compared with the first quarter of 2015, prices for flats, shops and warehouses fell from January to March 0.2 per cent, 1.3 per cent and 2.3 per cent respectively, RICS said. Prices for houses and offices rose 0.6 per cent and 0.7 per cent respectively.Apartment and house rental prices rose 3.6 per cent and 1.8 per cent in the first quarter compared with October to December, RICS said. Renting retail properties, warehouses and offices became 0.2 per cent, 0.4 per cent and 0.6 per cent less affordable respectively.“Compared with the first quarter of 2015, rents increased 4.2 per cent for flats, 2.4 per cent for houses and 2.4 per cent for offices,” the statement said, adding that rents for “retail and warehouses dropped 3.2 per cent and 2.1 per cent respectively”.“The majority of asset classes and geographies are bottoming out, with areas that had dropped the most early on in the property cycle,” such as Paphos, Famagusta and Larnaca, showing some signs of price stabilisation.Investing in apartments and houses offers owners an average gross yield of 4 per cent and 2 per cent, RICS said. Retail, warehouses and offices offered a 5.2 per cent, 4.3 per cent and 4.4 per cent yield to investors.You May LikePopularEverythingColorado Mom Adopted Two Children, Months Later She Learned Who They Really ArePopularEverythingUndoLivestlyChip And Joanna’s $18M Mansion Is Perfect, But It’s The Backyard Everyone Is Talking AboutLivestlyUndoSenior Living | Search AdsCheap Senior Apartments in Rowland Heights Are Turning HeadsSenior Living | Search AdsUndo Pensioner dies after crash on Paphos-Polis roadUndoCypriot tycoon launches ‘Bank of Cannabis’UndoThree arrested in connection with hotel theftsUndoby Taboolaby Taboolalast_img read more

Plastic money use up 21 in November JCC says

first_imgJCC Payment Systems, a consortium of Cypriot banks, said that the use of plastic money in Cyprus rose 21 per cent last month compared to November last year to €234.1m.In January to November, the use of Cypriot cards for purchases and payments in Cyprus rose an annual 13 per cent to €2.4bn, the payment processing company said in an emailed statement on Monday. The value of purchases and cash withdrawals by holders of Cypriot cards abroad last month rose 10 per cent to €141.8m and in January to November 12 per cent to €1.4bn.The value of purchases and cash withdrawals by holders of foreign cards in Cyprus rose an annual 11 per cent to €80.3m in November and €1.1bn in January to November, JCC said. The value of purchases with foreign cards alone rose 16 per cent in November and 19 per cent in January to November to €59.8m and €870.5m respectively.The amount of purchases with the use of Turkish cards processed by JCC was €2.1m in November and €23.7m in January to November, the company said. Local cards were used last month for purchases worth €866,385 and €275,222 in the Turkish occupied areas and Turkey respectively. In January to November, the respective amounts were €8.3m and €3.1m.You May LikeSUVs | Search AdsThese SUVs Will Take Your Breath Away. Research 2019 Luxury Crossover SUV DealsSUVs | Search AdsUndoPopularEverythingColorado Mom Adopted Two Children, Months Later She Learned Who They Really ArePopularEverythingUndoLivestlyChip And Joanna’s $18M Mansion Is Perfect, But It’s The Backyard Everyone Is Talking AboutLivestlyUndo Pensioner dies after crash on Paphos-Polis roadUndoCypriot tycoon launches ‘Bank of Cannabis’UndoThree arrested in connection with hotel theftsUndoby Taboolaby Taboolalast_img read more

McCready to host office hours in West Bloomfield Birmingham in August

first_img State Rep. Mike McCready will meet with residents of the 40th House District during a pair of office hours scheduled during August.On Wednesday, Aug. 21, McCready will host office hours in the board room of the Baldwin Library from 4-6 p.m. The Baldwin Library is located at 300 West Merrill St. in Birmingham.The lawmaker will also be available on Tuesday, Aug. 27 from 10-11:30 a.m. in the conference room of the West Bloomfield Library, located at 4600 Walnut Lake Road in West Bloomfield.No appointment is necessary to discuss questions or concerns with the representative.  Residents who are unable to attend the meetings may contact Rep. McCready’s office by phone at (517) 373-8670 or via email at 06Aug McCready to host office hours in West Bloomfield, Birmingham in August Categories: McCready News,Newslast_img read more

Rep McCready issues statement on FY 2017 budget

first_img Rep. Mike McCready, R-Bloomfield Hills, issued the following statement today following the passage of the state’s FY 2017 budget:“I’m pleased we were able to arrive at a fiscally responsible budget, ahead of schedule, that increases operational funding for higher education by $39.8 million. Each of our state’s 15 public universities will receive an increase between 2.4 and 4.5 percent.“In addition, the budget includes a 2.9 percent increase for the tuition grant program, which provides financial aid to students at independent colleges and universities.”Rep. McCready serves as the chair of the Appropriations Subcommittee on Higher Education.##### 09Jun Rep. McCready issues statement on FY 2017 budget Categories: McCready Newslast_img read more

Rep LaFave to governor Stop the excuses do the right thing and

first_img State Rep. Beau LaFave, member of the House Select Committee on Reducing Car Insurance Rates, today issued the following statement after Gov. Gretchen Whitmer threatened to veto the House-approved plan that would lower car insurance rates across Michigan:“The governor has a chance to do the right thing and give Michigan’s more than 7 million drivers desperately needed relief on their car insurance bills. If she follows through on her veto threat, sadly, her priorities will be abundantly clear.“She will be standing with her special-interest allies and the status quo in opposition to Michigan drivers and their families. She will be allowing ambulance-chasing lawyers and hospital executives – who have given her large pools of cash – to continue sucking our bank accounts dry through the most expensive car insurance in the nation.“If the governor vetoes this bill, the people of Michigan will see her for who she really is. The House-approved plan includes guaranteed lower rates and prohibits non-driving factors unlike the Senate’s version because the governor demanded those changes. And yet she is still threatening to reject the reform regardless of getting everything she asked for.“Our governor has specifically made clear what must be in a reform plan for her signature – and we delivered. All she is doing now is moving the goalpost with excuse after excuse.“If the governor vetoes any reform plan that includes her entire wish list, she is the problem – not the solution.” Categories: LaFave News 09May Rep. LaFave to governor: Stop the excuses, do the right thing and sign car insurance reformlast_img read more

5 Nonprofit News Sites to Collaborate on Coverage of Detroits Journey through

first_imgShareTweetShareEmail0 Shares Anne Kitzman / Shutterstock.comJanuary 30, 2014; Deadline DetroitNPQ has written repeatedly about the changing nature of journalism, including the trend to collaborate on coverage, and this story fits into that trend. The Bridge yesterday announced the formation of the Detroit Journalism Cooperative, a collaborative effort among five of Michigan’s nonprofit media organizations to cover Detroit as it works to transform itself. The partners in the efforts will be Bridge Magazine, WDET, Michigan Radio, Detroit Public TV and New Michigan Media; they will “share data-driven, solutions-based journalism that deepens public understanding of Detroit’s journey through bankruptcy and engages residents in the revival of this once-powerful city.” The products of this journalistic union, which is funded by the Ford Foundation, the Knight Foundation and Renaissance Journalism, will be available on a communal website.The collaborative has established benchmarks that will be the reference points they will use to chart Detroit’s progress and hold public officials accountable.The Bridge writes, “Going forward, we aim to be an indispensable resource for the people of Detroit – who have endured years of mismanagement and broken promises – and residents across Michigan, who sometimes question how their lives and communities, and tax dollars, are tied to the fate of the state’s largest city.”—Ruth McCambridgeShareTweetShareEmail0 Shareslast_img read more

Boomers Need Immigrants

first_imgShare22Tweet17Share10Email49 SharesLaunch Day: Washington DC / Robin Hood Tax on Wall StreetOctober 25, 2017; Politico, PHIEvery day, 10,000 baby boomers turn 65. As millions of boomers move into the final decades of their lives, we face a significant challenge as a nation: who will care for them? Already, home care is among the nation’s fastest-growing jobs, creating more new jobs than any other single occupation. According to a new fact sheet from PHI, over 633,000 new home care aides will be needed in the next decade, double the number of retail salespersons.Demographic shifts suggest that there simply won’t be enough working-age people to fill these jobs. To supplement that labor, we will need women from around the world who come to the United States in search of safety and economic opportunity for themselves and their families. Yet, the current administration is determined to reduce the flow of immigrants, particularly those without wealth or education.Compared to earlier generations, Baby Boomers had relatively small families, changing the age distribution of our country. A look at the numbers makes it clear why boomers should be advocating for sensible immigration policies that will expand and stabilize the caregiving workforce.Between 2015 and 2050, the population of adults over the age of 65 will grow from about 48 million to 88 million. Those over 85—and in need of the most care—will triple in number from just over six million to 19 million. During that same time period, there will be virtually no growth in the population of working-age adults, ages 18-64. Either we will need a massive shift of workers into caregiving occupations—unlikely considering these are some of the nation’s worst paying and most difficult jobs—or we will need new workers from countries around the world.Immigrants make up nearly 30 percent of the home care workforce, according to PHI. Paul Osterman, author of Who Will Care for Us?, explains, “If immigration is restricted people will have a much harder time finding the help they need to stay at home.”The latest immigration proposal from the GOP, the Reforming American Immigration for Strong Employment (RAISE) Act, would reduce the flow of legal immigrants by about half. Moreover, it shifts priorities in terms of who will be welcome in the US. According to a recent story in NPQ, the RAISE Act “gives wealthy, highly educated, English-speaking applicants priority over those seeking to reunite with family (called chain migration).”Unfortunately for older Americans, it is low-income women without formal educations who seek employment as caregivers. The field has a low bar for entry: it doesn’t require a high school or college degree, workers do not need to be fluent in English, and many of the jobs have no training or certification requirements. For foreign-born workers who are more highly educated—for example, nurses—home care and certified nursing aide jobs are often a first step toward a healthcare career in the US.If we reduce the flow of immigrant labor, one would think that wages for home care workers would rise as demand grows. Anupam Jena, associate professor of health care policy at Harvard Medical School, told reporter Ted Hesson, who recently reported on the growing care gap for Politico. “How much would it drive up the prices? That’s hard to know.” The home care market, however, is not a classic “free market.” Nearly 70 percent of home care services are paid for through public dollars, both Medicaid and Medicare. Medicaid, in particular, is facing steep cuts, putting increased pressure on states to reduce costs for long-term services and supports. More likely, rather than higher wages, we are going to see far more people seeking informal help from family members who are already stretched thin by the demands of work and family.—Karen KahnShare22Tweet17Share10Email49 Shareslast_img read more

Video search specialist Blinkx has acquired online

first_imgVideo search specialist Blinkx has acquired online advertising specialist and digital marketing agency Prime Visibility Media Group (PVMG) for £22.4 million (€26 million).According to Blinkx, the acquisition will enable it to integrate its video search engine with PVMG’s text search platform, tapping into a new audience and delivering TV-style brand advertising to it.Suranga Chandratillake, CEO of Blinkx said: “Online video advertising continues to be the fastest growing format by a significant margin, and is forecast to reach US$3.5 billion (€2.5 billion) over the next three years. Brands continue to move an increasing amount of their TV advertising budgets to online video, but need to be able to reach an audience of equivalent size on the Web. We’re extremely excited about the Acquisition because the integration of our video search engine with PVMG’s text search platform will enable us to tap into a new audience of intent-driven consumers and deliver TV-style brand advertising to them, which gives us the opportunity to expand our customer reach and increase PVMG’s margins over time.”last_img read more

Tanzanian pay TV operator StarTimes has launched a

first_imgTanzanian pay TV operator StarTimes has launched a new channel bouquet.The Kili Bouquet contains 52 channels including Fox Entertainment and several channels from News Corp-backed Asian pay TV operator Star.last_img

Over half of Russian pay TV operator Tricolor TVs

first_imgOver half of Russian pay TV operator Tricolor TV’s set-top boxes will be supplied by Kaliningrad-based technology provider General Satellite by the end of this year, according to local reports.General Satellite board member Sergei Pimenov told a microelectronics forum in Kaliningrad that over 50% of Tricolor TV’s active set-tops would be supplied by the company by the end of 2012.last_img

TV and movie streaming service Lovefilm has launch

first_imgTV and movie streaming service Lovefilm has launched on the Kindle Fire and Kindle Fire HD tablet and e-readers in the UK and Germany. Consumers owning the devices can access Lovefilm content via a one-month free trial.Kindle and Lovefilm are both part of Amazon. The Lovefilm service on the Kindle devices allows users to create playlists of TV and movie content and there is also a pause and resume function that allows users to stop viewing on one device and resume watching from the place on another device.There is also an ‘X-Ray for Movies’ feature that allows users to look up any actor in the scene of a movie, see what other movies they have been in and view photos and biographies via IMDB.“This is a huge moment for Lovefilm and continues to expand our multi-platform offering – delivering the very best content onto the most popular devices, which can only be great news for film and TV fans,” said Jim Buckle, managing director of Lovefilm.The service is already available via PCs and PlayStation 3 and Xbox 360 consoles.last_img read more

Swedish infrastructure provider Net Insights CEO

first_imgSwedish infrastructure provider Net Insight’s CEO Fredrik Tragardh is to leave the company at the end this quarter to take a new position with pulp, paper and forestry group Ekman & Co. “I want to thank Fredrik for his efforts over the years. During his time as CEO, Net Insight has evolved into a company with a global customer base, competitive products and a strong balance sheet. Now that Fredrik wants to take on a new challenge with a highly respected international trading house, I wish him well,” says said Lars Berg, chairman of the board.last_img read more

Irish commercial broadcaster TV3 has launched a se

first_imgIrish commercial broadcaster TV3 has launched a second screen app in partnership with social TV technology firm Axonista and media identification firm Civolution.The ShowPal companion app is designed to work as a single second screen app for a wide variety of TV3 programmes.It delivers a mix of content and social media related to TV3 shows and lets viewers interact by taking part in quizzes, games, voting and polls.The app was a collaborative effort by TV3 and Axonista, with Civolution’s automatic content recognition technology SyncNow deployed in order to synchronise the app with the TV3’s broadcast content.“As a broadcaster, TV3 recognises that second-screening is a mainstream activity and we sought to develop an app that would deliver relevant, engaging and entertaining content to the second screen synchronous with what is happening on the TV screen,” said Stephen Grant, TV3 Group director of online, and head of ShowPal.last_img read more

Secondscreen TV service Viggle has acquired Dijit

first_imgSecond-screen TV service Viggle has acquired Dijit Media, the firm behind personalised TV programming guide NextGuide.The deal, which was closed for undisclosed terms, will see Viggle integrate Dijit Meida’s services – including the NextGuide’s Reminder Button, which can be embedded into any website, letting viewers track and set reminders via email, text message or app push notifications for the shows they plan to watch.As well as reminders, NextGuide also offers a personalised TV guide, drawing listings from TV networks, as well as streaming services like Hulu Plus and iTunes. Its Universal Remote function also lets users control their DVR from anywhere.“We’ve had incredible growth and success since our launch and we’re excited to join with another company that shares our goals – to create a holistic marketing platform for brands and networks, while giving our users content and tools they need to take control of their daily entertainment choices,” said Dijit Media CEO Jeremy Toeman.The deal is the latest example of consolidation in the second screen space. In November i.TV bought GetGlue, which it said this week it is rebranding to tvtag. Yahoo! also this week said it is closing its IntoNow service.last_img read more

BTs YouView box The BBCs governing body the BBC

first_imgBT’s YouView boxThe BBC’s governing body, the BBC Trust, has called on the broadcaster to “carefully review its investments” in YouView, Freeview and Freesat as part of its obligation to promote services that are “free at the point of delivery.”In a report into the BBC’s distribution arrangements for its UK public services, published yesterday, the BBC Trust said that the BBC’s support of IP-enabled TV platform YouView was “predicated on the platform’s availability at no ongoing subscription cost”.However, it said that in practise, nearly all YouView ‘sales’ have provided under subsidy by either BT or TalkTalk, in exchange for a subscription to the telcos’ pay-TV services.“This may have implications for the BBC’s strategy of promoting ‘free’ access to its services, and is likely to form an element of a platform review by the BBC which is currently under way,” said the Trust.The news comes a day after the Guardian reported that the BBC and other UK broadcasters are planning to “slash their investment” in YouView, with funding talks for the next period of investment in YouView among stakeholders to be concluded at the end of March.The Trust said in its report that the BBC currently does not pay any fees to be carried on the non-linear interface of YouView. While it acknowledged that it has been subject to “some criticism” from certain YouView shareholders for this, it said this was a key part of its efforts to “contain distribution costs” in exchange for supplying content.As a joint stakeholder in YouView, the BBC contributed £6 million (€7.2 million) towards the operating costs of the service in 2012/13 alone. Over the past three years, YouView’s stakeholders – the BBC, ITV, Channel 4 and Channel 5, BT, TalkTalk, and infrastructure firm Arqiva – have paid a total of £105 million to fund the service.Elsewhere, the Trust’s distribution report predicted that on-demand consumption of TV programmes will more than double between now and 2017 and that the like-for-like direct costs for the BBC’s online distribution will rise to roughly £40m by 2016/17 from £24m in the current year.The Trust said that online distribution of the iPlayer delivers just over 2% of the BBC’s TV viewing, while the costs associated with delivery of the on-demand service is just under 12% of the BBC’s total distribution bill – but said that it was cost effective when compared to commercial benchmarks.Overall, the Trust said that the BBC’s overall distribution arrangements for its UK programmes and services are “fit for purpose and offer good value for money for licence fee payers.”last_img read more

Telekom Romania has partnered with content deliver

first_imgTelekom Romania has partnered with content delivery and protection specialists Viaccess-Orca and TV operating system provider Zenterio and for the rollout of its new IPTV and OTT multiscreen service, Telekom TV. The deal marks the third recent Zenterio OS deployment within the Deutsche Telekom Group, which owns a 50% stake in Telekom Romania, formerly Romtelecom, having previously worked with Slovak Telekom and Magyar Telekom.Telekom Romania is using Viaccess-Orca’s Voyage-TV Everywhere solution to drive the new IPTV and OTT multiscreen service, with Viaccess-Orca acting as a system integrator on the project.The firm’s Voyage solution includes Viaccess-Orca’s RiGHTv unified service delivery platform and Compass content discovery platform, with Telekom Romania able to deliver a range of content, including live television, video-on-demand and catch-up TV, to subscribers on any screen.Other technology partners for Telekom Romania’s IPTV project include Verimatrix as conditional access system provider and Kaon as set-top box manufacturer. Also involved is  Gemini, Friendly Technologies, Broadpeak, Harmonic and Accedo.“The launch of an innovative, multi-screen service is just the beginning of Telekom Romania’s major effort to expand its IPTV service offerings to our customers,” said Mathias Hanel, chief commercial officer at Telekom Romania.Nikolai Beckers, CEO of Telekom Romania said: “To provide a superior multiscreen service to potentially millions of subscribers across Romania, we needed a TV Everywhere solution that offers unparalleled levels of interactivity and personalisation. Unifying the service delivery across different networks by using a single converged system was also important.”Prior to deploying Viaccess-Orca’s Voyage, Telekom Romania was using multiple infrastructures for its TV offerings, including IPTV, OTT, DTH, and cable.The new unified platform is designed to support more device types, reduce costs, increase operational efficiencies, and quickly expand its service offering, according to Viaccess-Orca.Telekom TV will be available beyond the Telekom Romania customer base via monthly subscriptions.The news comes just a day after Romtelecom and Cosmote Romania began operating under the Telekom Romania brand, with both companies taking the “T” logo trademark.“Adding Romania to the Magenta map, is a natural step in the evolution of Deutsche Telekom’s footprint in Europe. It is in line with our strategy to offer the best customer experience driven by technology leadership. As a leading telecommunications provider in Europe, we bring our expertise and ability to the Romanian market. We are highly committed to Telekom Romania and will make a significant contribution to the Romanian society,” said Claudia Nemat, board member Europe and technology, Deutsche Telekom.last_img read more

Orange has completed its tender offer for Spanish

first_imgOrange has completed its tender offer for Spanish telco Jazztel, with shareholders representing 94.75% of the company’s capital accepting its offer of €13 a share.The success of the tender means that Orange will pay €3.179 billion for Jazztel, with settlement expected to take place on Wednesday.Orange has decided to exercise its rights to a squeeze-out of remaining shareholders, which is expected to be completed around August 136 for an additional €176 million.Jazztel’s shares will be automatically delisted at the end of the squeeze-out period.Orange said it was “very satisfied” with the result and that the acquisitions would enable the group to benefit from synergies.last_img read more