Markets - CybAI news

13 Aug

Turkish Satellite Firm Eyes $400 Million Valuation in Funding Debut

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Plan-S, the satellite and space technology unit of Turkey’s Kontrolmatik Enerji Ve Muhendislik AS, is launching an equity funding round that would value the company at $400 million.The single-asset fund, offered by the investment arm of state-run Ziraat Bank, aims to raise as much as $40 million from institutional and individual investors in Turkey and abroad for Ankara-based Plan-S, Kontrolmatik Chairman Sami Aslanhan told Bloomberg in Istanbul on Monday. Source link lol

13 Aug

Traders Hope Alphabet’s Pixel Event Can Stem $360 Billion Rout

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Alphabet Inc. investors are anxiously awaiting a Google hardware event on Tuesday — banking on new AI features to help stop a selloff that’s wiped out more than $360 billion in market value in just one month.Google is unveiling one of the biggest redesigns of its Pixel phones in their nearly decade-long history at an event starting at 10 a.m. in Mountain View, California. While the devices are usually an afterthought for investors because of their small revenue contribution relative to Google’s digital advertising business, expectations are high that new AI capabilities could demonstrate leadership in the highly competitive arena.…

13 Aug

Telecom Italia to Get €250 Million in Inwit Stake Sale to Ardian

stp2y0 CommentsRAG modelsARDIAN SAS, Cash Flow, Debt, INFRASTRUTTURE WIRELESS ITAL, JULY SARL/CAEN, KKR & CO INC, Markets, Milan, Private Equity, Technology, TELECOM ITALIA SPA

Telecom Italia SpA sold its remaining stake in mobile tower operator Infrastrutture Wireless Italiane SpA, picking up the pace in its drive to de-leverage and boosting cash flow beyond its full-year guidance levels.The carrier sold its indirect holding of about 3% in the tower company known as Inwit to a group led by French private equity firm Ardian SAS, according to a statement Tuesday. The one-time phone monopoly said it will cash in approximately €250 million ($273 million) from the deal, confirming an earlier report by Bloomberg. Source link lol

13 Aug

UK Energy Regulator Signs Off on £3.4 Billion Electricity ‘Superhighway’

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UK energy regulator Ofgem gave the green light to a £3.4 billion ($4.4 billion) funding package to build a proposed electricity “superhighway” under the North Sea.The project entails laying a 500-kilometer (311-mile) cable between Scotland and northern England to power as many as 2 million homes, the watchdog said in a statement on Tuesday. It’s the first of 26 projects in Ofgem’s fast-track funding process for offshore wind power. Source link lol

13 Aug

The Sleepy Czech Town Helping Europe Compete in the Global Chip War

stp2y0 CommentsRAG modelsA 2, Cold War, COMPETE, Czech Republic, economics, electric vehicles, Energy industry, europe, Government, Markets, ON SEMICONDUCTOR, politics, Technology, VOLKSWAGEN AG

The Czech town of Roznov pod Radhostem was best known for its rum-drizzled sweet pies and an open-air museum showing off historical wooden houses. Then came an announcement that stirred the sleepy backwater.US chipmaker ON Semiconductor Corp. picked Roznov for a new $2 billion manufacturing hubBloomberg Terminal in June. The past few weeks have seen a flurry of visits by property developers, the head of a local university and government officials followed around by television crews. Source link lol

12 Aug

TalkTalk Owners Provide New Funds to Push Back Maturities

stp2y0 CommentsRAG modelsARES MANAGEMENT CORP - A, Bonds, British Pound Spot, Debt, Generic 1st 'HG' Future, James Smith, Markets, Private Equity, TALKTALK TELECOM GROUP LTD, Technology, TOSCAFUND ASSET MANAGEMENT L, United Kingdom

TalkTalk Telecom Group reached a tentative agreement with lenders on a refinancing that will give the cash-strapped UK broadband provider more time to pay its debts as it struggles with competition and higher costs. Shareholders will provide an immediate £65 million ($83 million) of funding, with a further £170 million to come once binding agreements have been signed, according to a company statement on Monday. Major shareholders and Ares Management Corp. will also contribute further assets to the company, including the Virtual1 business, and the Ovo and Shell-branded customer bases. Source link lol

12 Aug

Vivendi’s Canal+ Increases Stake in Mauritian Pay-TV Company

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Vivendi SE’s Canal+ plans to double its stake in MC Vision to become the majority shareholder of the Mauritian-based digital Pay-TV company, as the French firm seeks to boost its presence on the continent.Canal+ will increase its stake to 75% from 37% for an undisclosed amount, pending regulatory approvals, according to a joint statement published in Le Dimanche/L’Hebdo newspaper. Source link lol

09 Aug

Millicom’s Board Committee Rejects Xavier Niel’s Improved Bid

stp2y0 CommentsRAG modelsbusiness, deals, europe, finance, GOLDMAN SACHS GROUP INC, Investment Company, Latin America, Markets, MILLICOM INTL CELLULAR S.A., MORGAN STANLEY, NORDEA BANK ABP, Stockholm, Technology

Millicom International Cellular SA rejected a raised offer from billionaire Xavier Niel who is seeking to buy the Latin American phone carrier for $4.4 billion. Niel’s Atlas Luxco Sarl last week offered $25.75 a share in cash for Millicom, which improved on a previous offer of $24 a share after the company’s independent board committee dismissed the initial offer as too low. In a statement published Friday, Millicom said the committee thinks the price offered remains unsatisfactory since it “continues to be well below trading multiples for comparable listed companies.” Source link lol

09 Aug

Khosla Ventures Backs AI Startup DevRev at $1.15 Billion Valuation

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DevRev Inc., a startup using artificial intelligence for customer support and other tasks, raised $100 million from Khosla Ventures and other investors in round that valued the company at $1.15 billion.Co-founded in 2020 by Chief Executive Officer Dheeraj Pandey, who also helped start Nutanix Inc., DevRev says its offerings use AI to improve the efficiency of employees on support, product and engineering teams. Source link lol

09 Aug

Buffett’s Apple Share Dump Is Set to Reshape Major Stock Gauges

stp2y0 CommentsRAG modelsAPPLE INC, BERKSHIRE HATHAWAY INC-CL A, Economic Growth, finance, Government, investing, iphone, Markets, S&P 500 INDEX, Technology, Warren E Buffett

Warren Buffett’s sudden sale of a huge pile of Apple Inc. shares has come with a surprise silver lining for investors in the iPhone maker: Its influence in major stock indexes is set to be fully unleashed.Apple’s weighting in a slew of benchmarks has been depressed for years because Buffett’s Berkshire Hathaway Inc. tends to hold its investments for the long run, making them unavailable for trading. As a result, index providers calculated the tech company’s weight based on a methodology known as float-adjusted market capitalization. Source link lol