Deutsche Telekom buys VoiceStream Wireless
EUROPE'S biggest telecom company, Deutsche Telekom AG, said today it will pay $50.7 billion to take over US mobile telecom operator VoiceStream Wireless Corp. Deutsche Telekom will offer 3.2 of its shares plus $30 a share in cash for VoiceStream shares. The boards of both companies approved the deal yesterday. That totals roughly $195.75 per share, well above VoiceStream's Friday closing price of $150.Lloyds TSB, antfactory announce $30 m JV
Lloyds TSB has announced that it is launching a $30 million joint venture with antfactory, a leading European strategic investment company. This new joint venture called Valuefactory Ventures, aims to identify, invest in and develop global new economy businesses as standalone, value-creating companies. The focus will be on investment opportunities which can benefit from the resources and capabilities of Lloyds TSB and antfactory.
Net ad-spend set to soar 37% in 2001, 2002
Adspend on the Net is expected to grow by a whopping 37 per cent in 2001 and 2002, with revenues expected to exceed $7 billion in 2000 alone, says a recent study by Zenith Media of United Kingdom. Adspend as a whole, is expected to go up by 8.1 per cent in US in 2000 to $332 billion and move up further by another six per cent in 2001. Zenith Media of the United Kingdom has predicted a boom in adspending worldwide. Details onIBM unveils commercial version of supercomputer
IBM on Monday introduced a commercial version of what it claims is the world's most powerful supercomputer, able to process 12.3 trillion calculations per second. IBM said the ASCI White computer, which is 30,000 times faster than the average personal computer, is a commercial version of a machine sold to the US department of energy.
Tayal Group launches infotech arm
Tayal Group, a 2,000 crores enterprise with interests in knitwear, banking and financial services has launched its infotech arm - Cyber Infosystems and Technologies Ltd. The company will develop and implement several solutions for mobile communication. Zee News sets sights on global market
Zee News is scouting for alliances and joint ventures abroad to make the channel available to Indian diaspora in USA, Europe, UK, Canada, Australia and Middle East. Zee News is currently in the process of sprucing up its act online by enabling its portal to webcast streaming audio and video. Zee Networks CEO Deepak Shourie told eFE that the company plans to go for distribution and content sharing tie-ups abroad.
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