Nytex

In Brief:Verizon likely to have lodged $3bn second-round bid for Yahoo 

Verizon made a second-round bid of US$3 billion (€2.64 billion) for Yahoo's Internet business.The U.S. telco was expected to make an offer ahead of Monday's deadline`.Verizon wants to acquire Yahoo's core Web business, and is not interested in its real estate or patent portfolio.The report also claimed that private equity firm TPG was preparing a second-round bid of its own.In the first round, the struggling Internet company reportedly received more than 10 bids for its Web business, ranging from $4 billion to $8 billion.

***China Tower Company,the world’s largest tower operator,is planning to launch an initial public offering(IPO)next year.The official noted that although there are ‘many conditions’for the company to meet before it goes public,the firm is expected to list in 2017.China Tower was created to hold and manage the tower assets of all three of the nation’s cellcos,and now manages more than 1.55 million tower sites,valued at more than CNY270 billion (USD41.09 billion).In February this year,China Tower’s general manager was quoted as saying that the proceeds of the IPO would be used to diversify the company’s business into ventures such as charging stations for electric cars.

***State-owned cellco Saudi Telecom Company(STC)is mulling the sale of its telecom towers as a means to diversify revenues and improve efficiency.Under the plan,STC would spin off its towers into a new entity, which would then sell off the portfolio.‘We are seriously considering it, we are doing our internal assessment in terms of what value it will bring us,’ the official explained, adding: ‘It’s not about the money. It’s about creating efficiency in operation. STC’s rivals Etihad Etisalat (Mobily) and Zain Saudi Arabia are also looking to sell off their tower assets.

***Orange Senegal is hoping to kick off its 4G service in the near future having reportedly secured a 20-year licence from the government for a consideration of XOF100 billion (USD173 million). If confirmed, the amount represents a three-fold premium on the reserve price of XOF30 billion set by local regulator the Regulation Authority of Post and Telecoms – a figure it refused to reduce, even when the incumbent operators turned their back on its call for applications in January this year.It is understood that the cellco’s majority shareholder Orange Group agreed the fee based on ARTP’s willingness to renew the operating concession of Orange Senegal’s parent,fixed line operator Sonatel,for free;the licence is due to expire in 2017.

***Cyprus published the results of a spectrum auction in which it sold off three packages of frequencies in the 800 MHz and 2.6 GHz bands, raising €17.5 million in total.
The country's Department of Electronic Communications revealed that incumbent mobile operators Cyta and MTN picked up two of the available licences, while cable operator Cablenet secured the third.
Mobile market newcomer Primetel, which launched services a year ago, took part in the bidding, but came away with nothing.