Tag Archives: offer

Australian Rugby offered to ‘cover the costs’ of relocating the Lions tour | Instant News


The chairman of the Agency said The Telegraph’s proposal would “return the profits” to the competing teams.

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  • The hosts’ decision to tour this summer is expected “within the next ten days,” according to The Telegraph
  • Other options include closed play in South Africa or draw in England and Ireland
  • Elsewhere, Mastercard is renewing Rugby World Cup support for 2023

Australian Rugby (RA) chairman Hamish McLennan has confirmed this Telegraph that the national governing body is offering the Lions of England and Ireland financial guarantees if they agree to relocate this summer’s tour of South Africa Down Under.

News of Australia’s bid to host a union side rugby tour series against the Springboks first emerged last month amid increasing uncertainty surrounding tour eligibility due to the coronavirus situation in South Africa.

Now, The Telegraph reports that the RA has put forward a government-backed minimum guarantee that it will ‘cover the costs’ of moving the three-game series to Australia, while also ensuring that the Lions and South Africa will benefit from the tour. .

The RA commercial team outlined their plans for the tour in a presentation to Lions officials earlier this week, according to The Telegraph, adding that the national regulatory agency is also discussing key financial issues, including the impact of a change of location on the main sponsor.

Australia has had more success with the coronavirus outbreak than any other country and has hosted a number of major fan sports events in the past year, including the Tri-Nations rugby union tournament, the recently concluded Australian Open Grand Slam tennis tournament and international cricket matches.

Other options touted as possible solutions for the Lions tour include keeping South Africa behind closed doors, postponing draws until 2022 or hosting matches in England and Ireland.

The Telegraph report added that a final decision on the host nation is expected “in the next ten days”, and McLennan told the UK-based newspaper that the RA was ready to carry out its plans should the Lions choose to tour Australia.

“The next thing we will work on is to provide a minimum guarantee to South Africa and the Lions to cover tour costs and return the profits and we are confident that we can help with replacement sponsors if the main partner does not want to. support the Lions in Australia, “he said.

“We will continue the ethos of the Lions tour that plays out in the Southern Hemisphere. If we are told ‘yes’, we will do everything to make it a captivating and memorable tour.

“There are hundreds of thousands of Lions fans already living here and while it won’t be quite the same as a traditional Lions tour, it will be very close.”

In other rugby union news, financial services firm Mastercard has renewed its support for the 2023 edition of the Rugby World Cup in France.

Mastercard has been a worldwide partner of the flagship national team event since 2008, and is now the card of choice for the 2023 tournament, which will be the tenth edition of the Rugby World Cup.

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UPDATE 1-Telefonica is in exclusive talks with investors for the Brazilian fiber unit | Instant News


(Write with COO comments)

MADRID, February 25 (Reuters) – Telefonica is in exclusive talks with financial investors about setting up a joint fiber optic venture in Brazil, Chief Operating Officer Angel Vila said Thursday.

The Spanish telecommunications group plans to expand high-speed fiber-optic coverage to more cities in Brazil, following a similar project launched in Germany in partnership with insurance company Allianz.

“Brazil is the size of a continent. Our capital expenditure (capex) will not reach everything, “Vila told Reuters.

After speaking with many potential partners, the company has held exclusive talks with “international operators with a financial and infrastructure profile”, said Vila, declining to name investors.

Talks have progressed, he added, but “in this situation you can never say 100% that you will sign.”

Previously Vila told analysts that the second phase of development could be done through agreements with fiber owners such as the American Tower.

Telefonica is already using the infrastructure of larger US companies in the Brazilian states of Minas Gerais and Vila said they “may be interested in consolidating” the agreement.

Vila said she could not confirm a Bloomberg News report that exclusive talks were held with Canadian pension fund Caisse de depot el placement du Quebec (CDPQ), due to a confidentiality agreement.

“CDPQ is a top class long-term global investor, that would be very attractive,” he added.

American Tower did not immediately respond to a request for comment. CDPQ could not be reached immediately.

Telefonica plans to hold half of the business through Telefonica and its local branch Telefonica Brasil.

Vila told analysts by conference call that it could expand the unit later through acquisitions.

Telefonica cut its dividend after reporting a 10% drop in previous 2020 earnings on Thursday, although it expects business to stabilize this year. (Reporting by Isla Binnie, Eid by Inti Landauro, Kirsten Donovan)

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Brazil to cut its stake in Eletrobras to 45% from 61% in privatization – energy secretary | Instant News


SAO PAULO, February 24 (Reuters) – The Brazilian government will cut its stake in power company Centrais Eletricas Brasileiras SA, or Eletrobras, to 45% from the current 61% in the planned privatization process, a senior official at the Energy Ministry told Reuters. Wednesday.

The ministry’s Energy Secretary Rodrigo Limp said the government expects its stake in Eletrobras to double in value to 60 billion reais ($ 11 billion) with the increase in share price that privatization hopes will bring.

President Jair Bolsonaro presented a bill to Congress on Tuesday that would accelerate the divestment in Brazil’s biggest utility.

$ 1 = 5.4062 reais Reporting by Luciano Costa, Editing by Rosalba O’Brien

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UPDATE 1-Italia wants Open Fiber control in the broadband launch drive – source | Instant News


* CDP will not take any precautions on Open Fiber stock sources

* CDP wants a 10% stake in Open Fiber for source control

* TEAM board including CDP Chairman – source (Records by raising stakes, adding comments, background)

ROMA / MILAN, 22 Feb (Reuters) – Italian state lender Cassa Depositi e Prestiti (CDP) wants to increase its stake in Open Fiber to 60% to take control of the broadband company, sources say, as Rome moves ahead with plans to increase ultra-fast connectivity across the country.

CDP will not exercise its first refusal rights on the 50% utility stake that Enel sells in Open Fiber but wants to increase its own stake to 60%, two sources close to the matter said.

Enel, which co-owns Open Fiber with CDP, is in talks to sell 40% to 50% of the fiber infrastructure group to Australian fund Macquarie in June.

Under the deal, Macquarie will pay 2.65 billion euros ($ 3.2 billion) for a 50% stake, although any final price may fluctuate depending on a series of acquisition clauses.

The source said CDP would relinquish its pre-emption rights but entered into talks to buy a 10% stake in Open Fiber from Enel, and negotiate governing rights with Macquarie to take full control.

Former Italian Economy Minister Roberto Gualtieri has tried to create a full-fiber national network by combining Open Fiber with Italian Telecom (TIM) landline assets.

New Prime Minister Mario Draghi has put digital infrastructure at the heart of his government’s agenda, but he hasn’t clarified whether he intends to implement an integrated network project and under what conditions.

Controlled by the Ministry of Finance, CDP is the second largest shareholder of TIM behind French media giant Vivendi but never holds a board seat.

A third source said on Monday that the list of Telecom Italia candidates to be presented for the new council at the annual general meeting would include CDP Chairman Giovanni Porno Tempini.

TIM will reveal the list on Tuesday. The source said the CDP could summon a new council on Thursday to discuss its support for the list.

Telecom Italia and CDP declined to comment while Enel could not be reached for comment. ($ 1 = 0.8229 euros) (Reporting by Giuseppe Fonte, Stephen Jewkes, Elvira Pollina; Editing by Richard Chang)

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Shares in Italian highway group ASTM surged in a bid to make the company private | Instant News


MILAN, Feb 22 (Reuters) – ASTM shares surged 27% on Monday, lifted by a buyout offer from a top Italian motorway group investor who wants to take the company private and revamp it.

Nuova Argo Finanziaria (NAF), which holds a 42% stake in ASTM, said at the weekend it would offer 25.60 euros per share in a new vehicle to buy minority investors at an outlay of up to 1.7 billion euros ($ 2 billion).

This represents a premium of 28.8% over ASTM’s official closing price on Friday.

The NAF said it plans to transform business, adding it will be easier to pursue reorganization of unlisted companies.

The Italian Gavio family are major investors in the NAF along with the infrastructure arm of French private equity firm Ardian.

Ardian agreed to invest in ASTM just days before a highway bridge operated by toll road company Atlantia collapsed in August 2018, killing 43 people.

In response to the tragedy, the Italian government has stepped up investment oversight by concessionaires, establishing a new body to monitor safety standards.

$ 1 = 0.8269 euros Report by Elisa Anzolin, written by Valentina Za; Edited by Kirsten Donovan

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