Tag Archives: Personal Equity (TRBC level 5)

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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Afterpay Australia explores global records as first-half sales double | Instant News


(Reuters) – Afterpay is exploring additional overseas listings amid growing US investor interest, Australia’s buy-now-pay-later said on Thursday after reporting first-half sales more than doubled.

Fintech Australia and its global competitors such as Klarna, Affirm and Sweden’s Zip Co have seen explosive growth since the pandemic locked in large parts of the world and made more people turn to online shopping.

Afterpay shares have gained more than 1,500% since March, establishing itself as the 12th most valuable company in Australia.

Afterpay also said it raised A $ 1.25 billion ($ 995 million) in convertible banknotes in a complex deal to buy Matrix Partners stock from its US business – which accounts for 43% of its sales. The United States is also a key growth market for the industry where it struggles with fast-growing Klarna.

Klarna, who is reported to be tapping into more private funding, posted his full-year results on Thursday evening.

Afterpay’s legal losses more than doubled to A $ 79.2 million as the strong growth of its UK business pushed the unit’s valuation higher and increased the value of put options held by other companies. Zip also posted a much bigger half-year loss after buying New York counterpart Quadpay.

While Afterpay’s gross transaction loss fell to 0.7% – indicating fewer customers skipping payments – margins also fell slightly to 2.2% from six months ago.

Transactions made through Afterpay totaled A $ 9.8 billion in the six months to December 31, double the A $ 4.8 billion processed last year, supported by strong holiday spending.

Active subscribers jumped 1.9 million to 13.1 million in the three months to December.

($ 1 = 1.2547 Australian dollars)

Reporting by Nikhil Kurian Nainan in Bengaluru; Edited by Forward Samuel

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AMP Australia is close to agreeing a joint venture with Ares: source | Instant News


FILE PHOTOS: The logo of AMP Ltd, Australia’s largest retail wealth manager, adorns their headquarters located in central Sydney, Australia, May 5, 2017. Photo taken May 5, 2017. REUTERS / David Gray

SYDNEY (Reuters) – Australia’s AMP Ltd and former US-based Ares Management applicants are close to agreeing a joint venture that would give American funds control over its asset management business AMP Capital, sources with knowledge of the deal said.

The arrangement, which could be finalized and announced in the next week, will utilize Ares’ distribution network to distribute the AMP investment fund, the person said, asking not to be named because negotiations are private.

The AMP representative, who on February 11 said Ares had withdrawn a A $ 6.36 billion ($ 5.03 billion) takeover offer for the entire company, declined to comment.

Ares’ representatives also declined to comment when contacted by Reuters.

Bloomberg reported on Tuesday that the deal could value the asset management business more than A $ 3 billion and that AMP would retain a minority stake, citing people with knowledge of the matter.

Following a review in the past six months seeking to find a buyer for AMP as a whole or its unit, the Sydney-based company said last week it had closed all but one process.

Its Australian and New Zealand wealth management business and banking division, are no longer under review but will continue to negotiate with Ares about potential sales or partnerships involving AMP Capital.

The deals are uncertain, said Chief Executive Francesco De Ferrari at the time.

($ 1 = 1.2653 Australian dollars)

Reporting by Paulina Duran in Sydney; Edited by David Evans

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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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Softbank is leading an $ 83 million investment in Brazilian education startup Descomplica | Instant News


SAO PAULO, February 18 (Reuters) – A group of investors led by Softbank Group has invested 450 million reais ($ 83 million) in Brazilian test preparation startup Descomplica, which has seen demand for online learning services soar in the pandemic, the company said. said on Thursday.

Descomplica said it would use the funds to make acquisitions and develop new products, including 33 new courses next year.

“We want to make Brazil’s largest university, quickly reach 1 million students with a 100% digital model,” said Marco Fisbhen, founder and chief executive officer of Descomplica.

Brazil’s largest education group, Cogna Educação SA, had less than 820,000 students enrolled in Kroton’s higher education division at the end of September, according to quarterly earnings.

Founded in 2011 with a focus on standardized exam preparation for university entry and the civil service, Descomplica launched its undergraduate program last year. The company offers 5 million monthly users between exam preparation and higher education students following a push from the pandemic lockdown.

Together with Softbank, investors in the round include Invus Group, the Chan Zuckerberg initiative and guitarist U2 The Edge.

$ 1 = 5.40 reais Report by Aluisio Alves Written by Marcelo Rochabrun; Edited by Cynthia Osterman

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