Shares of Vodafone Group Plc (ADR) (NASDAQ:VOD) ended Monday session in green amid volatile trading. The shares closed up +0.79 points or 2.66% at $30.46 with 10.64 million shares getting traded. Post opening the session at $29.84, the shares hit an intraday low of $29.77 and an intraday high of $30.51 and the price vacillated in this range throughout the day. The company has a market cap of $78.99 billion and the numbers of outstanding shares have been calculated to be 26.56 billion shares.
On August 3, 2016 Vodafone Group Plc (VOD.L) and Liberty Global plc (NASDAQ: LBTYA, LBTYB and LBTYK) welcomed the conditional clearance by the European Commission of the two companies’ proposed merger of their operating businesses in the Netherlands to form a 50:50 joint venture.
Following its Phase I investigation, the European Commission concluded that the transaction, as modified by the commitments offered by the parties, does not raise any competition concerns.
The commitments entail a divestment of Vodafone Netherlands’ consumer fixed business, prior to closing of the proposed merger of the two companies’ Dutch operations. This represents a structural remedy offered by the parties to address any concerns regarding the overlap between the fixed telecoms and TV activities of Vodafone and Ziggo in the Netherlands. Having already received a number of expressions of interest, the parties will now proceed with the sale process.
Vodafone Netherlands’ consumer fixed business has a customer base of more than 120,000 with a high triple-play penetration rate. The divestment could potentially also include MVNO access subject to agreement on commercial terms.
Shares of HP Inc (NYSE:HPQ) ended Monday session in green amid volatile trading. The shares closed up +0.54 points or 3.90% at $14.49 with 15.82 million shares getting traded. Post opening the session at $13.85, the shares hit an intraday low of $13.78 and an intraday high of $14.57 and the price vacillated in this range throughout the day. The company has a market cap of $23.84 billion and the numbers of outstanding shares have been calculated to be 1.71 billion shares.
HP Inc (HPQ) on Sep 12, 2016 announced a definitive agreement to acquire Samsung Electronics Co., Ltd.’s ( KSE : 005930 ) printer business in a deal valued at $1.05 billion.
The acquisition positions HP to disrupt and reinvent the $55 billion copier industry, a segment that hasn’t innovated in decades. Copiers are outdated, complicated machines with dozens of replaceable parts requiring inefficient service and maintenance agreements. Customers are frequently frustrated with the number of visits needed to keep copier machines functioning. HP is investing to disrupt this category by replacing copiers with superior multifunction printer (MFP) technology.
Samsung has built a formidable portfolio of A3 MFPs that deliver the performance of copiers with the power, simplicity, reliability and ease-of-use of printers and with as few as seven replaceable parts. Integrating the Samsung printer business’ products, including their mobile-first and cloud-first user experience, with HP’s next-generation PageWide technologies will create a breakthrough portfolio of printing solutions with the industry’s best device, document, and data security.
This is the largest print acquisition in HP’s history and accelerates its growth opportunities in the copier segment, strengthens its leading laser printing portfolio that has been established with Canon, and paves the way for future printing innovation. It also creates new avenues for growth and greater profitability for partners as they expand managed print services as sales models shift from transactional to contractual.
“When we became a separate company just 10 months ago, it enabled us to become nimble and focus on accelerating growth and reinventing industries,” said Dion Weisler, president and CEO of HP. “We are doing this with 3D printing and the disruption of the $12 trillion traditional manufacturing industry, and now we are going after the $55 billion copier space. The acquisition of Samsung’s printer business allows us to deliver print innovation and create entirely new business opportunities with far better efficiency, security, and economics for customers.”