Navigate this market better. Subscribe for FREE stock alerts and information.

Friday, October 31, 2014

Oi, America Movil, Telefonica to bid for TIM, sources say, (NYSE: OIBR), (NYSE: OIBR-C), (NYSE: TEF), (NYSE: TI), (NYSE: TI-A)

Brazil's Grupo Oi SA, Mexico's America Movil SAB and Spain's Telefonica SA agreed to place a joint bid worth around 32 billion reais ($13 billion) for TIM Participa��es SA, two sources with direct knowledge of the matter said on Friday.The companies agreed to present a single offer to minority shareholders and Telecom Italia SpA, which owns about 67 percent of TIM Participa��es, Brazil's No. 2 wireless carrier, said the first source, who requested anonymity as the deal is still in the works.A bid could be presented within two weeks, both sources noted. The first source said Oi, America Movil and Telefonica are confident their offer won't meet too much resistance from antitrust and industry watchdogs in Brazil. The bid implies a 5 percent premium for controlling and minority shareholders of TIM, the first source noted.Telecom Italia, whose board meets on Nov. 6 to examine its quarterly results, had yet to receive any offer for TIM, Chairman Giuseppe Recchi said on Friday. The Rome-based company has repeatedly said Brazil remains a strategic market, but it would consider selling TIM if a highly priced offer is made.

Oi SA, formerly Brasil Telecom SA, is a Brazil-based holding company engaged in the provision of Switched Fixed-line Telephony Services (STFC) domestically and internationally. Shares of OIBR traded higher by 4.48% or $0.0224/share to $0.52. In the past year, the shares have traded as low as $0.40 and as high as $1.97. On average, 11540800 shares of OIBR exchange hands on a given day and today's volume is recorded at 22956182.

Shares of OIBR-C traded higher by 4.46% or $0.0232/share to $0.54. On average, 0 shares of OIBR-C exchange hands on a given day and today's volume is recorded at 1304084.

Telefonica SA is a Spain-based company active in the telecommunications and digital services sectors. Shares of TEF traded higher by 1.91% or $0.28/share to $14.97. In the past year, the shares have traded as low as $13.76 and as high as $17.63. On average, 1065450 shares of TEF exchange hands on a given day and today's volume is recorded at 881431.

Shares of TI traded higher by 3.13% or $0.34/share to $11.21. In the past year, the shares have traded as low as $8.80 and as high as $13.54. On average, 145292 shares of TI exchange hands on a given day and today's volume is recorded at 69637.

Shares of TI-A traded higher by 2.57% or $0.222/share to $8.85. In the past year, the shares have traded as low as $7.05 and as high as $10.62. On average, 43758 shares of TI-A exchange hands on a given day and today's volume is recorded at 34498.



Source

REFILE-Comcast spin-off to list on Nasdaq in 2015, (NASDAQ: CHTR), (NYSE: TWC), (NYSE: TWX)

Midwest Cable Inc, the cable company to be spun off from Comcast Corp after it buys Time Warner Cable Inc, said it would list its Class A common stock on the Nasdaq under the symbol "GLCI" in 2015. Upon completion of the merger, the company will change its name to GreatLand Connections Inc. (1.usa.gov/1tI9CiA)Comcast said in April it would divest 2.5 million subscribers across the U.S. Midwest and southeast into a new publicly traded company that would be two-thirds owned by Comcast shareholders and one-third by Charter.This was part of a three-way deal between Comcast, Charter Communications Inc and Time Warner Cable, aimed at winning regulatory approvals for Comcast's proposed $45 billion purchase of Time Warner Cable Inc. (Reporting By Lehar Maan in Bangalore; Editing by Saumyadeb Chakrabarty)

Charter Communications, Inc. (Charter) provides cable services in the United States, offering a range of entertainment, information and communications solutions to residential and commercial customers. Shares of CHTR traded higher by 2.62% or $4.04/share to $158.44. In the past year, the shares have traded as low as $116.78 and as high as $167.30. On average, 973235 shares of CHTR exchange hands on a given day and today's volume is recorded at 652392.

Time Warner Cable Inc. (TWC) is a provider of video, high-speed data and voice services in the United States with systems located in five geographic areas: New York State, the Carolinas, Ohio, Southern California and Texas. Shares of TWC traded higher by 2.65% or $3.781/share to $146.66. In the past year, the shares have traded as low as $116.98 and as high as $155.32. On average, 2089730 shares of TWC exchange hands on a given day and today's volume is recorded at 2023946.

Time Warner Inc. (Time Warner) is a media and entertainment company. Shares of TWX fell by 0.19% or $-0.155/share to $79.50. In the past year, the shares have traded as low as $58.22 and as high as $88.13. On average, 6204280 shares of TWX exchange hands on a given day and today's volume is recorded at 2758975.



Source

Oi, America Movil, Telefonica to bid for Brazil's TIM -sources, (NYSE: OIBR), (NYSE: OIBR-C), (NYSE: TEF), (NYSE: TI), (NYSE: TI-A)

Brazil's Grupo Oi SA, Mexico's America Movil SAB and Spain's Telefonica SA agreed to place a joint bid worth around 32 billion reais ($13 billion) for control of TIM Participa��es SA, Brazil's No. 2 wireless carrier, two sources with direct knowledge of the situation said on Friday. While the accord is not yet finalized, the companies agreed to present a single offer to Telecom Italia SpA, which owns about 67 percent of TIM Participa��es, said the first source, who requested anonymity since the deal is in the works.A bid could be presented within two weeks, both sources added. The first source said Oi, America Movil and Telefonica hope their bid will not meet too much resistance from antitrust and industry watchdogs in Brazil.($1 = 2.4550 Brazilian reais)

Oi SA, formerly Brasil Telecom SA, is a Brazil-based holding company engaged in the provision of Switched Fixed-line Telephony Services (STFC) domestically and internationally. Shares of OIBR traded higher by 7.4% or $0.037/share to $0.54. In the past year, the shares have traded as low as $0.40 and as high as $1.97. On average, 11540800 shares of OIBR exchange hands on a given day and today's volume is recorded at 20133408.

Shares of OIBR-C traded higher by 9.31% or $0.0484/share to $0.57. On average, 0 shares of OIBR-C exchange hands on a given day and today's volume is recorded at 1090297.

Telefonica SA is a Spain-based company active in the telecommunications and digital services sectors. Shares of TEF traded higher by 2.11% or $0.31/share to $15.00. In the past year, the shares have traded as low as $13.76 and as high as $17.63. On average, 1065450 shares of TEF exchange hands on a given day and today's volume is recorded at 794531.

Shares of TI traded higher by 3.22% or $0.35/share to $11.22. In the past year, the shares have traded as low as $8.80 and as high as $13.54. On average, 145292 shares of TI exchange hands on a given day and today's volume is recorded at 63993.

Shares of TI-A traded higher by 2.55% or $0.22/share to $8.85. In the past year, the shares have traded as low as $7.05 and as high as $10.62. On average, 43758 shares of TI-A exchange hands on a given day and today's volume is recorded at 30339.



Source

Dollar General extends tender offer for Family Dollar shares again, (NYSE: DG), (NASDAQ: DLTR), (NYSE: FDO), (NYSE: TGT), (NYSE: WMT)

Dollar General Corp extended its tender offer for shares of Family Dollar Stores Inc to Dec. 31, until after a shareholder vote that will decide the fate of a rival bid by Dollar Tree Inc.Dollar General had received offers for only about 4 million Family Dollar shares of a total 114 million outstanding shares as of Oct. 30, a day before the offer was to expire.Dollar General's perseverance to close a deal highlights its struggles in a weak economy where penny-pinching customers look for more discounts and deals.Dollar stores have been a popular choice for such customers, but rising competition from mass retailers such as Wal-Mart Stores Inc and Target Corp opening small-format stores has intensified pressure on them to merge.

Dollar General Corporation is a discount retailer in the United States by number of stores, with 9,961 stores located in 39 states as of March 2, 2012, primarily in the southern, southwestern, midwestern and eastern United States. Shares of DG fell by 0.05% or $-0.03/share to $62.42. In the past year, the shares have traded as low as $53.00 and as high as $65.99. On average, 5034350 shares of DG exchange hands on a given day and today's volume is recorded at 891364.

Dollar Tree, Inc. (Dollar Tree) is an operator of discount variety stores offering merchandise at the fixed price. Shares of DLTR traded higher by 1.81% or $1.08/share to $60.60. In the past year, the shares have traded as low as $49.59 and as high as $60.11. On average, 2825150 shares of DLTR exchange hands on a given day and today's volume is recorded at 2417093.

Family Dollar Stores, Inc. (Family Dollar) operates a chain of more than 7,900 general merchandise retail discount stores in 46 states, providing consumers with a selection of merchandise in neighborhood stores. Shares of FDO traded higher by 0.44% or $0.34/share to $78.16. In the past year, the shares have traded as low as $55.64 and as high as $80.97. On average, 2170820 shares of FDO exchange hands on a given day and today's volume is recorded at 354353.

Target Corporation sells a range of assortment of general merchandise and food in its stores. Shares of TGT fell by 0.28% or $-0.17/share to $61.61. In the past year, the shares have traded as low as $54.66 and as high as $67.25. On average, 4485610 shares of TGT exchange hands on a given day and today's volume is recorded at 1964610.

Wal-Mart Stores, Inc. (Walmart), operates retail stores in various formats globally. Shares of WMT traded higher by 0.03% or $0.02/share to $76.47. In the past year, the shares have traded as low as $72.27 and as high as $81.37. On average, 6431230 shares of WMT exchange hands on a given day and today's volume is recorded at 3283914.



Source

Comcast spinout to list on Nasdaq in 2015, (NASDAQ: CHTR), (NYSE: TWC), (NYSE: TWX)

Midwest Cable Inc, the cable company to be spun off from Comcast Corp after it buys Time Warner Cable Inc, said it would list its Class A common stock on the Nasdaq under the symbol "GLCI" in 2015. Upon completion of the merger, the company will change its name to GreatLand Connections Inc. (1.usa.gov/1tI9CiA)Comcast said in April it would divest 2.5 million subscribers across the U.S. Midwest and southeast into a new publicly traded company that would be two-thirds owned by Comcast shareholders and one-third by Charter.This was part of a three-way deal between Comcast, Charter Communications Inc and Time Warner Cable, aimed at winning regulatory approvals for Comcast's proposed $45 billion purchase of Time Warner Cable Inc. (Reporting By Lehar Maan in Bangalore; Editing by Saumyadeb Chakrabarty)

Charter Communications, Inc. (Charter) provides cable services in the United States, offering a range of entertainment, information and communications solutions to residential and commercial customers. Shares of CHTR traded higher by 2.51% or $3.87/share to $158.27. In the past year, the shares have traded as low as $116.78 and as high as $167.30. On average, 973235 shares of CHTR exchange hands on a given day and today's volume is recorded at 384652.

Time Warner Cable Inc. (TWC) is a provider of video, high-speed data and voice services in the United States with systems located in five geographic areas: New York State, the Carolinas, Ohio, Southern California and Texas. Shares of TWC traded higher by 2.52% or $3.6/share to $146.48. In the past year, the shares have traded as low as $116.98 and as high as $155.32. On average, 2089730 shares of TWC exchange hands on a given day and today's volume is recorded at 1671169.

Time Warner Inc. (Time Warner) is a media and entertainment company. Shares of TWX traded higher by 0.18% or $0.14/share to $79.79. In the past year, the shares have traded as low as $58.22 and as high as $88.13. On average, 6204280 shares of TWX exchange hands on a given day and today's volume is recorded at 2067920.



Source

Oi, rivals agree to bid for Brazilian wireless firm TIM - report, (NYSE: OIBR), (NYSE: OIBR-C), (NYSE: TEF)

Mexico's America Movil SAB, Spain's Telefonica SA and Brazil's Grupo Oi SA agreed to bid for TIM Participa��es SA then to break up Brazil's second-largest wireless carrier, newspaper Folha de S. Paulo reported on Friday.Folha reported without attribution that the accord between the three companies is far from finalized, but they agreed in principle to pay 31.5 billion reais ($12.9 billion) for TIM, Telecom Italia SpA's Brazilian unit. That price includes a 5 percent premium to controlling and minority shareholders of TIM, the paper added.Telecom Italia has not received any offer to sell TIM Participa��es, Telecom Italia Chairman Giuseppe Recchi said in a statement on Friday. TIM, whose shares jumped 11.6 percent, said in a securities filing that neither management nor its main shareholder were aware of any takeover bid.Investment banking firm Grupo BTG Pactual SA is handling the transaction. A formal offer will be made to shareholders of Telecom Italia, which owns about two-thirds of TIM Participa��es, the paper said.

Oi SA, formerly Brasil Telecom SA, is a Brazil-based holding company engaged in the provision of Switched Fixed-line Telephony Services (STFC) domestically and internationally. Shares of OIBR traded higher by 11.3% or $0.0565/share to $0.56. In the past year, the shares have traded as low as $0.40 and as high as $1.97. On average, 11540800 shares of OIBR exchange hands on a given day and today's volume is recorded at 11394218.

Shares of OIBR-C traded higher by 12.47% or $0.0649/share to $0.58. On average, 0 shares of OIBR-C exchange hands on a given day and today's volume is recorded at 397977.

Telefonica SA is a Spain-based company active in the telecommunications and digital services sectors. Shares of TEF traded higher by 1.7% or $0.25/share to $14.94. In the past year, the shares have traded as low as $13.76 and as high as $17.63. On average, 1065450 shares of TEF exchange hands on a given day and today's volume is recorded at 426620.



Source