christian louboutin bottes the price is expected to relieve c shareholders

Cable wireless sells optus to singapore telecom Cable wireless has sold optus, its australian mobile phone offshoot, to singapore telecom for after a bid battle that has left vodafone as the bitterly disappointed loser. Singtel swept in yesterday with a knockout offer to close the protracted auction, even though vodafone had been planning escarpins louboutin pas cher to submit a revised bid for the company this week. Last night the company was agreeing the final terms of the deal in sydney, with bankers working round the clock.A stock exchange announcement is expected tomorrow morning.But christian louboutin bottes the price is expected to relieve c shareholders, who recently had to contend with a profit warning that wiped 20 per cent off the share price. Singtel is believed to be paying around a$20bn(A$3bn more than expected.C will receive more than for its 52 per cent stake in the company, more than forecast by analysts.More than half of the payment will be in cash. The deal will increase pressure on c to hand some of its growing cash pile back to shareholders and the group is expected to give details of this when it announces its full year results in may. At the half year c cash reserves had swelled to while capital spending is thought to have reduced this by since then, the proceeds from the optus disposal will now increase the group's cash to almost graham wallace, c chief executive, is thought to be keen to retain some cash to fund the company's expansion.But, following the profit warning, he is thought to be listening sympathetically to investor calls for a special dividend or share buyback. Meanwhile the group is continuing to look for acquisitions around the world to expand its data network and services operations.The group is said to be considering a bid for internet initiative japan, one of the country's leading net service providers, for up to $100m.Iij listed on nasdaq in 1999 and its shares have suffered badly in the technology crash.Some of its leading japanese shareholders are said to be opposed to the deal. The optus deal will catch australia's business community by surprise, since it had expected the auction for the company to continue for many more weeks.But c decided last week that vodafone's bid was fraught with regulatory difficulties and decided to enter detailed negotiations with singtel. The victory is particularly sweet for singtel since it comes after it lost out in the bidding for c other prime pacific asset, its substantial stake in hongkong telecom.C put this up for sale early http://www.modularmvc.com/ last year and, for a long time, looked likely to sell it to singtel. At the last minute, however, pacific century cyber works, a newly louboutin soldes formed company, stepped in with a higher counteroffer and trumped singtel's bid.Pccw's shares have fallen since the deal by more than 80 per cent in the collapse of the technology bubble. Vodafone already controls one of australia's leading mobile operations.If it had acquired optus, its market share would have risen to more than 50 per cent. But the defeat will hit britain's leading telecoms group hard, since it is keen to build up leading positions in all major markets.The group, run by chris gent, is rarely defeated in battles for prime mobile assets.