Archive for the ‘SHARES BUYOUTS FINANCE’ Category

MICROSOFT BUYS NOKIA MOBILE PHONE BUSINESS WITH US GOV APPROVAL

Tuesday, December 3rd, 2013

US APPROVES MICROSOFT PURCHASE OF NOKIA’S MOBILE PHONE BUSINESS

WASHINGTON Mon Dec 2, 2013 3:24pm EST

A photo illustration shows the Microsoft logo displayed on a Nokia phone in Vienna September 3, 2013. REUTERS/Heinz-Peter Bader

A photo illustration shows the Microsoft logo displayed on a Nokia phone in Vienna September 3, 2013.

Credit: Reuters/Heinz-Peter Bader

(Reuters) – U.S. antitrust regulators have approved Microsoft Corp’s deal to buy Nokia Corp’s mobile phone business, the Federal Trade Commission said on Monday.

The approval, which was expected, was dated November 29.

The next step will be for the companies to win approval in Europe for the proposed $7.3 billion transaction.

Two people familiar with the matter told Reuters on November 22 that the transaction was headed for unconditional approval in Brussels. The EU competition watchdog has set a December 4 deadline for its decision.

Nokia had in September agreed to sell its devices and services business and license its patents to Microsoft after failing to recover from a late start in the smartphone sector.

The purchase underscores Microsoft’s push into the competitive consumer devices market, where it faces fierce competition from market leader Samsung Electronics and Apple.

Nokia shareholders in mid-November gave a thumbs-up to the sale of what was once Finland’s biggest brand, at one point worth 4 percent of the national GDP.

CEY

Henry Sapiecha

black diamonds on white line

CONTRACT OF SALE OF APPLE ESTABLISHING THE COMPANY SELLS FOR $1.59M @ SOTHEBY’S NEW YORK

Wednesday, December 14th, 2011

A brief three-page contract  establishing Apple has sold for $US1.59 million at Sotheby’s auction house in New York.

A phone bidder acquired the document, signed on April 1, 1976, by Steve Jobs, Steve Wozniak and Ronald Wayne. The price, which includes the buyer’s premium, soared past the estimated presale range of $US100,000 to $US150,000.

The contract was initially owned by Wayne, who met Jobs while working at Atari Inc. Wozniak, a friend of Jobs, worked at Hewlett-Packard Co. Jobs enlisted Wayne to persuade Wozniak to join Apple. His success in doing so earned Wayne a 10 per cent share in the new company.

Eleven days after signing the contract, Wayne withdrew from the partnership… The move is documented by a County of Santa Clara, California, statement and an amendment to the contract, both of which were included in the Sotheby’s lot. Wayne received $US800 for relinquishing his 10 per cent ownership of Apple, according to the document. He subsequently received an additional payment of $US1500, according to Sotheby’s.

Based on Apple’s market capitalisation today, Wayne’s 10 per cent stake would be valued at more than $US36 billion.

Jobs died at 56 on October 5.

In an October 7 interview with Bloomberg, Wayne, 77, called Wozniak and Jobs “intellectual giants”, but “also felt it was going to be something of a roller coaster”, adding, “If I’d stayed with them, I was going to wind up the richest man in the cemetery.”

Sourced & published by Henry Sapiecha

NOKIA SIEMENS MOTOROLA & HUAWEI SHUFFLING FOR POSITION OF POWER & BUYOUT

Thursday, December 30th, 2010

China delays NSN’s

$1.2 billion buy

of Motorola unit

By Tarmo Virki, European technology correspondent

HELSINKI | Wed Dec 29, 2010 1:36pm EST

HELSINKI (Reuters) – Nokia Siemens Networks’ agreed $1.2 billion acquisition of Motorola’s telecom network equipment arm has been delayed by the Chinese regulator, which has yet to grant permission for the deal.

The chief executive of Nokia Siemens, Nokia’s network gear unit, said he was working closely with the Anti-Monopoly Bureau of the Ministry of Commerce of China to finalize the clearance.

“This delay is disappointing, but we’re looking forward to completing the acquisition early in the new year,” Nokia Siemens Networks CEO Rajeev Suri said in a statement on Tuesday.

The deal will strengthen Nokia Siemens – a joint venture between Nokia and Germany‘s Siemens – against its key Chinese rivals, and make it the second-largest mobile telecom gear maker ahead of China’s Huawei.

All other regulatory clearances for the deal which will grow Nokia Siemens business in key markets in North America and Japan, have been obtained, Nokia Siemens said.

“Nowadays Chinese approval is a pre-closing condition for many high-tech M&A transactions, and the Chinese Ministry of Commerce has previously shown that it takes its time even after other regulators clear a deal,” said Florian Mueller, consultant on competition issues.

“China proved in the Panasonic-Sanyo case that it stood its ground even after a deal had been cleared by the U.S. and the EU, and insisted on additional remedies,” Mueller said.

In October 2009 China granted Panasonic Corp anti-monopoly clearance to buy Sanyo Electric Co Ltd subject to conditions, including cutting its stake in a battery venture with Toyota Motor Corp.

Motorola and NSN have had a hard time battling bigger players to win business with large telephone companies in the cut-throat mobile gear market, which is expected by analysts to decline in 2010.

Motorola has only 3 percent share of global mobile network market, but it gives Nokia Siemens relationships with more than 50 telecom operators and to strengthen its position with major carriers like China Mobile, Clearwire, KDDI, Sprint, Verizon Wireless and Vodafone.

Motorola said the delay in unit sale would not impact its ongoing split-up.

“It will not affect the separation of Motorola, which is on schedule for January 4, 2011,” said Motorola Solutions spokeswoman Tama Mcwhinney.

In New York Nokia shares were 0.4 percent lower at $10.18 at 1640 GMT, while Motorola 0.1 percent lower at $8.98.

(Additional reporting by Yinka Adegoke in New York; Editing by Erica Billingham)

Sourced & published by Henmry Sapiecha

SONY TO INVEST BIG IN SMART PHONE SENSORS & DIGITAL CAMERAS

Tuesday, December 28th, 2010

Sony to spend

$1.2 billion

to double

image sensor output

$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

People walk in front of the Sony Corp's headquarters in Tokyo in this November 25, 2010 file photo. REUTERS/Toru Hanai

People walk in front of the Sony Corp’s headquarters in Tokyo in this November 25, 2010 file photo.

Credit: Reuters/Toru Hanai

TOKYO | Mon Dec 27, 2010 3:03am EST

TOKYO (Reuters) – Sony Corp will invest $1.2 billion in the next financial year to double its output of image sensors, taking advantage of brisk demand for digital cameras and smartphones.

The sum includes a deal announced last week to buy back a semiconductor production line from Toshiba Corp, which has been estimated by an industry source at 50 billion yen ($600 million).

Sony will take advantage of a Japanese government subsidy for environmentally friendly businesses to help with the investment, it said in a statement but declined to say how much that would be.

It will convert part of the plant in Nagasaki, southern Japan, for the production of CMOS (complementary metal-oxide semiconductor) sensors and invest in wafer processing equipment for CMOS image sensors.

Sony is the world’s second largest digital camera maker behind Canon Inc and runs a mobile phone joint venture with Sweden’s Ericsson.

The investment will bring its total production of image sensors, including CCD and CMOS types, to 50,000 units a month by March 2012.

Sourced & published by Henry Sapiecha