
BCE Raises Revenue Guidance After Closing Ziply Deal
Canada's biggest telecom firm by revenue earned 63 Canadian cents per share on an adjusted basis in the second quarter, less than the 70 cents expected by analysts in a Bloomberg survey, according to a statement Thursday.

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Forbes
8 minutes ago
- Forbes
Australian Billionaire David Teoh's Simba Telecom To Buy Singapore's M1 In Deal Valued At $1.1 Billion
Simba Telecom—a unit of billionaire David Teoh's Australia-listed Tuas Ltd.—is buying M1 in a deal valuing the Singapore-based mobile carrier at S$1.4 billion ($1.1 billion). Keppel has agreed to sell its 83.9% stake in M1 to Singapore-based mobile operator Simba for cash proceeds of close to S$1 billion, the company said in a statement on Monday. Keppel will retain M1's Information and Communications Technology businesses, which complements the conglomerate's connectivity operations such as data centers and subsea cables. While the transaction will result in a S$222 million loss for state-linked Keppel, the deal 'crystalizes value from Keppel's investment in M1 over the years,' the company said. The sale of M1, which Keppel founded in 1994 to compete with telecom giant Singtel, is expected to be completed in a few months subject to regulatory approvals. The divestment unlocks value for Keppel, which plans to use the cash proceeds to fund growth opportunities, lower debt levels and reward shareholders. Keppel said it has identified a portfolio of non-core assets (worth more than S$14 billion) that it plans to sell. 'M1 and Simba are a highly synergistic combination—together, they can scale more efficiently, optimize infrastructure and accelerate 5G and digital investments,' Loh Chin Hua, CEO of Keppel, said in the statement. Simba's parent Tuas reported a first-ever net profit of S$3 million in its first half ended January as revenue jumped 34% to S$73.2 million. Tuas expects to remain profitable for the rest of the fiscal year. Simba had 1.2 million mobile subscribers and over 14,000 broadband customers as of January. Tuas, which was spun off as a separate listed entity after its parent TPG Telecom merged with Vodafone Australia in March 2020. Teoh, 69, an Australian citizen of Malaysian descent, is the founder and former executive chairman of TPG Telecom. He has a real-time net worth of $2.1 billion, according to Forbes.

Yahoo
36 minutes ago
- Yahoo
Engine Capital builds stake in Avantor, plans to push it to sell itself, WSJ reports
(Reuters) -Activist investor Engine Capital has built a stake in Avantor and plans to push the life-sciences company to sell itself or make other changes, the Wall Street Journal reported on Sunday, citing people familiar with the matter. Engine could reveal its roughly 3% stake in Avantor on Monday, the newspaper reported, adding that the activist investor thinks the entire company could sell for between $17 and $19 per share. Reuters could not immediately confirm the report. Avantor and Engine Capital did not immediately respond to a request for comment outside regular business hours. Avantor has a market value of $7.84 billion, and its shares have fallen by more than 45% this year to about $11.5, as of Friday's close, according to LSEG data. The company said in its first-quarter earnings report in April that it has faced a reduction in demand, particularly in the government and education market, after changes in the government policy. These include the administration blocking funding for a swathe of public-health programs run by the Centers for Disease Control and Prevention. Engine thinks Avantor shares could trade as high as $26 by the end of 2027, the WSJ report said. The investment firm believes that Radnor, Pennsylvania-based Avantor should either pursue an immediate sale or implement changes such as cost cuts, divesting non-core assets, board refresh or increasing stock buybacks, according to the report. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
36 minutes ago
- Yahoo
Indian equity benchmarks to open higher; US tariffs continue to weigh
(Reuters) -India's equity benchmarks are likely to open marginally higher on Monday, after posting a sixth straight weekly loss, but the sentiment is likely to remain subdued due to uncertainty over U.S. tariffs on goods from India. The Gift Nifty futures were trading at 24,436, as of 7:42 a.m. IST, indicating that the Nifty 50 will open above Friday's close of 24,363.3. The Nifty and Sensex shed nearly 1% last week, and logged their longest weekly losing streak in five years, as U.S. tariffs and muted earnings dampened sentiment. U.S. President Donald Trump has imposed a 50% tariff on goods from India, half of which has already come into effect, while the additional 25%, which is a punitive tariff for buying Russian oil, will be effective August 28. Investors will closely watch the meeting between Trump and his Russian counterpart Vladimir Putin on August 15 in Alaska to negotiate an end to the war in Ukraine. Meanwhile, foreign portfolio investors turned buyers in India on Friday, as per provisional data, marking only their third session of buying in the last 20 sessions. Trump's 50% tariff on Indian goods "came as a shock to the market and this has impacted sentiment negatively. FPI investment, going forward, will be decided by the developments on the tariff front", said VK Vijayakumar, chief investment strategist at Geojit Investments. STOCKS TO WATCH ** Automaker Tata Motors posts a 63% slump in quarterly profit, its fourth straight quarter of decline, as U.S. tariffs hurt businesses that were already reeling from weak sales ** Air conditioning manufacturer Voltas misses first-quarter profit estimates by a wide margin as early monsoons dampened demand for residential cooling products ** Gold-loan financier Manappuram Finance posts lower first-quarter profit, as bad-loan provisions in the microfinance segment jumped