Victoria Fox's Blog, page 142

Cellnex is looking for a partner in Poland to buy the Play

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Cellnex, the Spanish telecom tower giant, is open to selling a minority stake in its Polish subsidiary, as EXPANSIÓN announced on December 1, and for this it is working with JP Morgan and BNP .

The formal sale process will be launched before the summer, according to Reuters . The Polish operation is different from the sale of the Irish subsidiary for which Cellnex has hired Banco Santander. In the Irish case the entire fil is going to be sold

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AT&T reverses its losses and earns $14.4 billion in 2023

In the fourth quarter, the most followed by Wall Street analysts, the company had profits of 2,188 million dollars , compared to the losses of 23,517 recorded in that section of 2022, but its income increased by 2.2% , to 32,022 million , in the fourth quarter,

The company’s accumulated turnover in 2023 increased by 1.4% and stood at 22,428 million.

Objectives achieved

AT& CEO John Stankey indicates that during 2023 they achieved their objectives : “(The company) generated sustainable growth and consistent business performance,” according to a statement published this Wednesday.

“As we advance our leadership , we will continue to expand our best-in-class 5G and fiber networks to meet growing customer demand and drive lasting growth for shareholders,” details Stankey.

However, the company’s adjusted earnings outlook for 2024 fell short of Wall Street analysts’ expectations .

Following the release of the results, AT&T shares were down 2.50% before the stock market opened .

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TravelPerk raises 95 million in a round led by SoftBank

Avi Meir, co-founder and CEO of TravelPerk, at the company’s headquarters in Barcelona.

The Spanish travel management unicorn for companies closes the first mega round of the year and sends a positive signal about the financing capacity that the technological ecosystem will have this year after 2023 in which investment fell by 33%.

First mega round of the year in the Spanish technology sector. The corporate travel management platform TravelPerk has closed a capital increase of 104 million dollars (95.4 million euros) led by SoftBank Vision Fund 2 , the m

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Atresmedia enters the capital of PlayFilm as an industrial partner

The audiovisual group takes over as lead investor from Angels Capital, Juan Roig’s investment vehicle.

Atresmedia has taken a 15% shareholding in the Spanish technology company PlayFilm , as part of its diversification strategy, with investment in companies in the audiovisual sector with strong growth potential.

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The former CEO of Rakuten TV raises six million for his new business

Members of the Titan OS team, in Barcelona. EXPANSION

Jacinto Roca joins forces with TP Vision, licensee of the Philips brand in Europe, to launch an operating system for smart televisions.

Jacinto Roca , former CEO of Rakuten TV and president of LoveTV Channels , has raised six million euros for his new business venture, the connected television technology firm Titan OS. The money raised comes from three sources

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"Palworld": Pokémon on a spit

Pokémon! With weapons! That was many people’s first reaction when the first trailer for Palworld appeared in 2021. The players move through a game world filled with all sorts of colorful creatures, the Pals, with their help they build their settlement, collect resources, plant and harvest vegetables and, well, have the Pals produce machine guns on the assembly line so that they can use armed force later to subjugate enemy factions and unwilling Pals.

This combination of “aww, how cute!” and “wtf?” caused a lot of conversation, which has now turned into hype: Since last Friday, Palworld has been available as an early access title, i.e. as an unfinished pre-release version, for 29 euros on the PC and Xbox – and is already breaking records: over the weekend alone The game has sold more than four million copies. Only two other games in the history of the Steam gaming platform have managed to attract more than 1.5 million simultaneous players: Counter-Strike 2 and PUBG: Battlegrounds . This is a great success for the previously relatively unknown Japanese development studio Pocketpair.

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Microsoft Copilot: Can this AI build better presentations than humans?

People once claimed that Disney films gave them unrealistic ideas about love, when it was still common to share such sayings with the world via StudiVZ group membership. Star Trek gave me an unrealistic idea of AI assistants, I’m afraid. Just as others wait for the perfect fairytale prince, I hope for a machine that always understands me and carries out all my orders perfectly. I want a computer like the Enterprise that the crew can summon from anywhere on the starship via voice command.

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The judge agrees with the founders of Jobandtalent due to the price of the Cortina shares

The judge validates the sale price of the Cortina securities offered by the founders of Jobandtalent, which amounts to around 800,000 euros

The Court of First Instance number 12 of Madrid has recognized that Pelayo Cortina Koplowitz and his father, Alberto Cortina , must collect 818,853.02 euros for the sale of some Jobandtalent shares, and not the up to 8 million euros that he claimed .

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Telefónica reaches 93.1% of its German subsidiary after disbursing 1,483 million in the takeover bid

Telefónica has gone from having 71.81% of its German subsidiary, Telefónica Deutschland, to controlling 93.1%. This increase in participation has cost it 1,483 million euros and has been the result of the takeover bid that it launched last November.

The firm chaired by José María Álvarez-Pallete has managed to increase its participation in Telefónica Deutschland to 93.1% of the share capital and voting rights , taking into account that the total number of shares that have accepted its takeover bid launched on November 7 , plus the number of securities that were already owned by them amount to 2,769 million shares.

For this, Telefónica has disbursed “a total amount of approximately 1,483 million euros , paid entirely in cash,” Telefónica tells the National Securities Market Commission (CNMV). The Spanish telecom offered 2.35 euros in cash for each Telefónica Deustchland share, which meant paying a premium of around 37.6%.

At the time of launching the takeover bid, Telefónica directly and indirectly controlled 71.81% of the capital of its German subsidiary (which operates under the O2 Germany brand), so it was aimed at the remaining 28.19%, in order to take over 100% of the capital.

However, a total of 7.86% of Telefónica Deutschland shares, representing 233,732 million shares, have accepted the takeover bid .

Furthermore, Telefónica adds that since the announcement of the offer, it has acquired, outside of the takeover bid, an additional 13.43% of its share capital and voting rights (including the 1.32% acquired as a result of the liquidation of financial instruments). .

Given that the offer was not subject to a minimum acceptance percentage and that no regulatory approval was necessary for this operation to be carried out, the offer will be settled next Friday, January 26, after it ended on January 17. the acceptance period.

Focus on your strategic markets

With this takeover bid, Telefónica reinforces its strategy of focusing on its main geographic markets ( Spain, Brazil, Germany and the United Kingdom ), as well as its “firm commitment to the German market, one of the most attractive and stable telecommunications markets in Europe.” , as announced by the teleco at the time of launching this offer.

Likewise, the Spanish multinational stated that this takeover bid contributes to its efforts to simplify the group’s structure.

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Membership in Telefónica's ERE exceeds 43%, with more than 1,470 employees already signed up

More than 1,470 employees of the Telefónica group have voluntarily signed up in two weeks for the employment regulation files (ERE) that the company will apply in its three main subsidiaries in Spain (Telefónica de España, Móviles and Soluciones).

The period of affiliation to the collective dismissal began last Tuesday, January 9, and will last until February 8, according to the calendar established by the company and the unions.

In this way, voluntary enrollment would be around 43% in just two weeks. Initially, in the first three days, the secondment of about 500 employees was added, a significant number, taking into account that many workers had just returned from vacation and are still evaluating the “singularities” of the ERE.

The sources consulted by Europa Press also point out that it is foreseeable that membership in the ERE will increase in the final stages of the process. The same sources have stated that they are happy with the current volume of affiliation to the exit process.

In this context, the stipulated deadlines reflect that the company’s response will take place on February 14, while departures will begin mainly on February 29, although the ERE will be open until March 31, 2025.

In the event that voluntary membership in the ERE does not cover the 3,421 planned departures, the company may undertake forced dismissals, while it has also reserved membership limits in areas of activity considered critical.

As reported by Telefónica to the National Securities Market Commission (CNMV) on January 3, the cost of this collective dismissal is estimated at around 1.3 billion euros (before taxes) and will have no impact on cash.

In this way, the average cost per worker will be around 380,000 euros, a figure lower than the exit plans undertaken by the company in recent years.

Along these lines, Telefónica estimates that the average annual savings of direct expenses will be around 285 million euros from 2025 , although the impact on cash generation will be positive from 2024, “as will the capture of savings.” , since the departure of employees is estimated to take place as early as the first quarter of 2024.

Voluntary withdrawals

On the other hand, it is worth remembering that Telefónica presented last Wednesday, January 17, a voluntary resignation plan for the group’s global units in Spain that will affect “dozens of people, always less than 100”, as union sources explained to Europa Press.

Staff who are 56 years old or older and whose seniority is at least 15 years may benefit from the voluntary departure plan. In correspondence with other plans presented, the employees who leave will have an income of 68% of the annual gross regulatory salary credited at the time of suspension.

Specifically, the global units of the Telefónica group in Spain from which around 100 employees will leave are: Telefónica, SA, Telefónica Innovación Digital España; Telefónica Global Solutions; Telefónica Electronic Purchasing; Telefónica Insurance and Reinsurance Insurance Company; Telefónica Insurance and Reinsurance Brokerage Mediation Company; Telefónica Finance; Telefónica Open Innovation; Telefónica Comprehensive Management of Buildings and Services; Telefónica Cybersecurity & Cloud Tech; Telefónica Internet of Things & Big Data Tech; Telefónica Foundation and Profuturo Foundation.

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