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Auto, travel firms weigh on European shares ahead of ECB meeting
  + stars: | 2021-06-10 | by ( Sruthi Shankar | ) www.reuters.com + 0.00   time to read: +2 min
(Reuters) -European stocks slipped on Thursday as automakers and travel stocks fell after a recent run of gains, while investors counted on the European Central Bank to maintain an accommodative policy stance at a meeting later in the day. Automakers fell for the third straight day, while travel and leisure stocks dropped 1.1% following recent gains for the sectors on optimism about economic re-openings. Euro zone stocks fell 0.2% ahead of the ECB’s policy decision and its projections for euro zone economic growth and inflation. The meeting comes as recent data from across the globe point to building inflationary pressures, particularly in commodities, as economies recover from long COVID-19 lockdowns. Euro zone inflation last month exceeded the central bank’s target of just under 2%, a mark it has undershot for most of the last decade.
Persons: Christine Lagarde’s, pare Organizations: Reuters, European Central Bank, REUTERS, Staff, Volkswagen, RBC Capital Markets, BT Group, Altice, Spotify, Apple Music Locations: Frankfurt, Germany
(Reuters) -European stocks inched to fresh peaks on Thursday as the European Central Bank raised its recovery outlook and promised to keep ample stimulus flowing, while travel stocks fell after a recent run of gains. REUTERS/StaffThe pan-European STOXX 600 index was up just 0.1%, but at a fresh record high of 455.76 points, while the narrower index of euro zone stocks fell 0.1%. The central bank now sees 2021 euro zone economic growth at 4.6%, above the 4% projected in March. “The ECB’s main mission today was to avoid any taper talk and not harm the still tentative economic recovery or allow bond yields to surge prematurely,” said Carsten Brzeski, global head of macro at ING. “It accomplished its mission: the ECB seems to have bought some time without starting the taper talk.”Interest rate-sensitive banking stocks rose 0.4%, while tech stocks rose 0.9%.
Persons: Christine Lagarde, , Carsten Brzeski, pare Organizations: Reuters, European Central Bank, REUTERS, Staff, ECB, ING, Federal Reserve, Volkswagen, BT Group, Altice, Spotify, Apple Music Locations: Frankfurt, Germany
Auto, oil firms weigh on European shares ahead of ECB
  + stars: | 2021-06-10 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +1 min
(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)June 10 (Reuters) - European stocks inched lower on Thursday as energy and automakers’ shares slipped, with investors focused on a European Central Bank meeting later in the day. The pan-European STOXX 600 index slipped 0.1% by 0713 GMT, snapping a four-day winning streak. Automakers slid nearly 1%, while oil and gas sector shed 0.9%. Euro zone stocks fell 0.2%, ahead of the ECB policy decision and its projections for economic growth and inflation. French digital music company Believe, which helps to distribute music via deals with platforms such as Spotify and Apple Music, dropped 10.2% in its stock market debut.
Persons: Sruthi Shankar, Sriraj Kalluvila Organizations: , European Central Bank, BT Group, U.S, Altice, Spotify, Apple Music Locations: Bengaluru
LONDON/PARIS (Reuters) -Billionaire Patrick Drahi’s Altice Group has bought a 12.1% stake worth about 2.2 billion pounds ($3.1 billion) in Britain’s BT Group, becoming its largest shareholder. “Altice holds the board and management team of BT in high regard and is supportive of their strategy,” Altice UK, a company formed for the purpose of holding the BT stake, said. The stake puts Altice ahead of Deutsche Telekom, which owned 12.06% of BT based on recent filings, Refinitiv data shows. “Altice UK has informed the BT board that it does not intend to make a takeover offer for BT,” it added. We are making good progress in delivering our strategy and plan,” BT said in a statement following Altice UK’s announcement.
Persons: Patrick Drahi’s, Altice, “ Altice, , , Drahi Organizations: Britain’s BT Group, SFR, BT, Deutsche Telekom, “ Altice, Britain’s, ” BT, Vivendi Locations: PARIS, France, Orange, Switzerland, United States, Israel, U.S
REUTERS/Rafael Marchante/File PhotoDrahi’s newly-created vehicle Altice UK announced the holding in a statement on Thursday which drove BT’s shares to a 17-month high. Altice UK is owned by Next Alt, dealmaker Drahi’s private holding, which also controls SFR, the second largest telecoms operator in France behind Orange. “Altice holds the board and management team of BT in high regard and is supportive of their strategy,” Altice UK, a company formed for the purpose of holding the BT stake, said. “Altice UK has informed the BT board that it does not intend to make a takeover offer for BT,” it added. Altice UK has ruled itself out of making a full takeover offer for six months by virtue of its statement.
Persons: Patrick Drahi, Rafael Marchante, “ Altice, , , Jefferies, Altice, Drahi, Morgan Stanley Organizations: BT Group, REUTERS, SFR, Orange, BT, “ Altice, Britain’s, Deutsche Telekom, Vivendi Locations: PARIS, Lisbon, Portugal, France, British, Spain, Switzerland, United States, Israel, Europe, Dominican Republic, U.S
Altice takes 12% stake in BT, no takeover offer plans
  + stars: | 2021-06-10 | by ( Reuters Staff | ) www.reuters.com + 1.00   time to read: +1 min
(Reuters) - Patrick Drahi’s Altice Group said on Thursday that it had taken a 12.1% stake in Britain’s BT Group becoming its largest shareholder. Slideshow ( 2 images )“Altice holds the Board and Management team of BT in high regard and is supportive of their strategy,” Altice UK, a company formed for the purpose of holding the BT stake, said in a statement. “Altice UK has informed the BT Board that it does not intend to make a takeover offer for BT.”The stake was worth about 2.2 billion pounds based on BT’s closing price on Wednesday. BT said it noted Altice’s announcement and its statement of support for its management and strategy. “We welcome all investors who recognise the long-term value of our business and the important role it plays in the UK,” BT said.
Persons: Patrick Drahi’s Altice, “ Altice, , Organizations: Reuters, BT Group, Management, BT, “ Altice, BT Board, Britain’s, ” BT, Orange Locations: SFR, France
FILE PHOTO: An advertising board is seen during the first demonstration of the technology 5G in Lisbon, Portugal June 4, 2018. Altice, which pioneered 5G in Portugal, owns MEO, the largest landline operator in the country. A spokesperson for Altice said the company was not planning any sales process “now or in the near future” in Portugal. Altice, which has the bulk of its operations in France, aims to sell its Portuguese unit for about 6 billion euros ($7.3 billion), representing a multiple of 7 to 8 times its core earnings (EBITDA) of 833.6 million euros, the sources said. In 2020, Altice Portugal’s revenues increased 0.5% to 2.1 billion euros, while its core earnings grew 0.2% to 833.6 million euros.
Persons: Spain’s, Rafael Marchante, Franco, Patrick Drahi, Lazard, cautioning, MEO, Altice, MasMovil, Euskaltel Organizations: REUTERS, Major, Telefonica, Orange, Nowo, KKR, Morgan Stanley Infrastructure Partners, Horizon Equity Partners Locations: Europe, Portugal, Lisbon, Orange, , Providence, Iberia, France
But now, a couple of U.S. wireless companies are springing out to an early lead: Verizon and T-Mobile. In the past year, Verizon and T-Mobile have methodically added subscription services to wireless plans. Instead, Verizon and T-Mobile have offered a group of monthly digital subscription services, from video to gaming to telehealth, tied to wireless service packages. For content producers, wireless companies offer nationwide marketing reach to boost subscribers. For the wireless carriers, adding exclusive subscriptions to bundles is a key differentiator between Verizon, AT&T and T-Mobile, which offer similar wireless service in many regions throughout the country.
Persons: It's, Frank Boulben Organizations: Comcast, Altice, Verizon, Mobile, Wall Locations: Altice USA, U.S
UPDATE 1-Telecoms firm Iliad to step up spending on 5G
  + stars: | 2021-05-18 | by ( Reuters Staff | ) www.reuters.com sentiment -0.54   time to read: +1 min
(Adds detail from call)May 18 (Reuters) - Telecoms group Iliad reported like-for-like revenue growth of almost 5% in the first quarter, helped by a rise in mobile and broadband subscribers, and announced plans to step up spending on 5G networks. “These commercial results can be explained by the strong dynamic of our network rollouts, which we will continue to accelerate,” Chief Executive Thomas Reynaud told reporters in a call on Tuesday. Iliad, controlled by billionaire Xavier Niel, said it would review its 2021 cash flow target for France in order to speed up spending on 5G networks in the country, where it launched the cheapest offer of the four main operators late last year. To help ramp up spending, the Paris-based group said it would sell its 30% stake in On Tower France, which it values at a minimum of 600 million euros ($731 million). In Poland, it said its integration of mobile operator Play - bought late last year - was proceeding ahead of schedule, with 8,000 new customers added over the first three months of 2021.
Persons: Thomas Reynaud, Xavier Niel Organizations: Bouygues Telecom, Altice’s, Free Mobile Locations: Orange, Italy, Poland, France, Paris, Tower France
Altice USA CEO Dexter Goei says pay-TV providers will stop offering cable
  + stars: | 2021-03-01 | by ( ) www.cnbc.com sentiment -0.97   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAltice USA CEO says pay-TV providers will eventually stop offering cable TVIt's only a matter of time before cable TV no longer exists, says Dexter Goei, CEO of Altice USA, the fourth largest U.S. cable provider by subscribers. In an interview with CNBC's Alex Sherman, Goei discusses the fiber network, streaming platforms, why broadband wireless companies should merge, and more.
Persons: Dexter Goei, CNBC's Alex Sherman, Goei Organizations: Altice Locations: Altice USA, U.S
Bouygues aims to leapfrog Altice to become France's No.2 mobile player
  + stars: | 2021-01-15 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +1 min
FILE PHOTO: The Bouygues Telecom company logo is seen at a shop in Bordeaux, France, March 22, 2019. REUTERS/Regis DuvignauPARIS (Reuters) - French conglomerate Bouygues aims to expand its telecoms business to become France’s second-largest mobile operator in terms of subscribers by 2026, it said on Friday. It had 12.3 million mobile subscribers at the end of September, compared with Altice’s 14.6 million and Orange’s 22.5 million. Bouygues said it aimed to exceed 7 billion euros ($8.5 billion) in telecoms revenue by 2026, up from 6 billion euros in 2019. It is also targeting core profit, after leases, of 2.5 billion euros, versus 1.4 billion in 2019.
Persons: Regis Duvignau, Orange, Bouygues Organizations: Bouygues Telecom, REUTERS, Altice Europe’s SFR, Information Telecom Locations: Bordeaux, France, Regis Duvignau PARIS
Huawei’s hardware makes up nearly half of the European 4G network that will form the foundation for super-fast 5G, alongside that of Nokia and Ericsson. But European operators are under pressure from the United States to shun the Chinese giant for 5G systems that could in future be supporting services ranging from telemedicine to factory automation. But he said Orange had tested both Samsung and Huawei equipment before opting for Nokia and Ericsson for its 5G systems in France. European operators have already spent billions of euros to roll out fibre optic networks in Europe, and 5G will drain their pockets even more. Altice Europe’s French telecoms business SFR also says it requires its new 5G equipment to fit the existing structure.
Persons: Hannibal Hanschke, , Enrique Blanco, Nicola Palmer, Michael Trabbia, Trabbia, Orange, Altice, Kimmo Stenvall, ” Samsung’s, Stenvall, Telefonica’s Blanco Organizations: Samsung Electronics, Huawei, Samsung, IFA, REUTERS, U.S, Verizon, Spain’s Telefonica, France’s, South, European 4G, Nokia, Ericsson, Washington, Telefonica Chief Technology, Reuters, IF, HUAWEI, WHO, Orange Chief Technology, Bell Canada, Deutsche Telekom, Telefonica, Markets, Networks Locations: MADRID, STOCKHOLM, PARIS, Berlin, Germany, United States, Beijing, Asia, Americas, U.S, Europe, Orange, Poland, Romania, France,
(Reuters) - European shares hit their highest since February on Wednesday, on upbeat business activity data in the region, rising hopes of a Brexit trade deal and the possible roll-out of a COVID-19 vaccine in the continent before the new year. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, December 15, 2020. REUTERS/Staff/File PhotoExtending a rally to a third straight session, the pan-European STOXX 600 index rose 0.8%, joining a global rally after U.S. congressional leaders reported substantial progress in talks on another round of fiscal stimulus. “Any positive vaccine update that suggests that it’s being rolled out sooner is more effective,” said Connor Campbell, a financial analyst at Spreadex. The German DAX stock index shot up 1.4% and was set for its best session in three months.
Persons: PMIs, , Connor Campbell, Micheál Martin, German DAX Organizations: Reuters, REUTERS, Staff, Pfizer, BioNtech, European Union, Spreadex, EU, Irish, Continental, U.S, U.S . Federal, Biotech, Gilead Sciences Locations: Frankfurt, Germany, Britain, Europe, German, U.S ., United States, Gilead, Altice Europe
Upbeat business activity, vaccine hopes lift European shares
  + stars: | 2020-12-16 | by ( Susan Mathew | ) www.reuters.com + 0.00   time to read: +2 min
(Reuters) - European shares closed higher on Wednesday on upbeat regional business activity data, rising hopes of a Brexit trade deal and the possible roll-out of a COVID-19 vaccine on the continent before the new year. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, December 15, 2020. REUTERS/Staff/File PhotoRallying for a third straight session, the pan-European STOXX 600 index closed 0.8% higher, having touched a near 10-month peak during the session. But hopes for an end to the pandemic buoyed sentiment, as a European Commission official said the EU could give final approval for the Pfizer-BioNTech COVID-19 vaccine as early as Dec. 23. The German DAX stock index posted its best session in three months, up 1.5%.
Persons: Flash PMIs, , Bert Colijn, Colijn, German DAX Organizations: Reuters, REUTERS, Staff, ING, European Commission, Pfizer, BioNTech, RTE, Continental, U.S, Biotech, Gilead Sciences Locations: Frankfurt, Germany, Britain, United States, Europe, German, U.S . Federal, Gilead, Altice Europe
The Trouble With Riding the Coattails of Billionaires
  + stars: | 2020-12-07 | by ( Stephen Wilmot | ) www.wsj.com + 0.89   time to read: +1 min
Investing alongside a billionaire co-owner can be a smart way to ensure that management stays focused on shareholder interests. Patrick Drahi, the Franco-Israeli controlling shareholder of the Altice cable empire, is trying to take his European company private at an opportunistic valuation. Mr. Drahi launched his offer for the shares he doesn’t already own in Altice Europe in September. European telecom companies haven’t escaped the Covid-19 crisis, and Altice Europe stock fell farther than most because of its high leverage. Still, Mr. Drahi owns 77.58% of Altice Europe, giving him substantial sway with its management.
Persons: Patrick Drahi, Drahi, doesn’t, haven’t, Altice Europe’s, John Malone Organizations: Liberty Global Locations: Franco, Altice USA, Drahi’s U.S, Altice Europe, Europe, Netherlands
EU clears Altice, Allianz, Omers acquisition of Covage
  + stars: | 2020-11-27 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +1 min
FILE PHOTO: The logo of cable and mobile telecoms company Altice Group is seen during a news conference in Paris, France, March 21, 2017. REUTERS/Philippe Wojazer/File PhotoBRUSSELS (Reuters) - The European Commission said on Friday it had approved the proposed acquisition of French fibre optics operator by rival SFR FTTH controlled by Altice, Allianz and Omers, subject to conditions. Covage only sells fibre network access on the wholesale market, while SFR FTTH is active in both wholesale and retail markets. To address the Commission’s concerns the parties offered to divest most of Covage’s FTTO business and to offer assets and services required to operate this divested business for a transitional period. The Commission said that the transaction, as modified by the commitments, no longer raised competition concerns.
Persons: Philippe Wojazer Organizations: Altice, REUTERS, European, SFR, Allianz, Omers, European Union Locations: Paris, France, BRUSSELS, SFR FTTH
Here's a rundown of the movers in big media amid push for direct-to-consumer
  + stars: | 2020-11-23 | by ( ) www.cnbc.com sentiment -1.00   time to read: 1 min
Here's a rundown of the movers in big media amid push for direct-to-consumerCNBC's Jim Cramer and David Faber discuss the performances of stocks from the top media companies including Altice USA, HBO parent company AT&T, Roku and Turner Broadcasting System.
Persons: Jim Cramer, David Faber Organizations: Altice USA, HBO, AT, Turner Broadcasting System
FILE PHOTO: Thomas Reynaud, Chief Executive Officer of French broadband Internet provider Iliad, attends the company's 2018 annual results presentation in Paris, France, March 19, 2019. REUTERS/Gonzalo FuentesPARIS (Reuters) - French telecoms firm Iliad is open to a mobile network-sharing agreement with market leader Orange to lower the deployment costs of 5G technology, its boss said on Thursday. France’s four telecoms operators, which also include Bouygues Telecom and Altice Europe’s SFR, are preparing to rollout the next generation mobile internet after the 2.8 billion-euro ($3.32 billion) sale of 5G spectrum last month. The attribution of 5G frequencies was accompanied by strict commitments by operators to the French authorities to demands for extensive coverage of the country with the new technology. “We’re quite open minded when it comes to network sharing,” Iliad’s Chief Executive Thomas Reynaud told the Morgan Stanley European Technology, Media and Telecom conference in a virtual meeting.
Persons: Thomas Reynaud, Gonzalo Fuentes PARIS, Orange, , Morgan Organizations: REUTERS, Bouygues Telecom, Altice, SFR, Morgan Stanley European Technology, Media, Telecom Locations: Paris, France, .
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