Feeds

One-2-One up for use as collateral by C&W

Bank loans worth £3.8bn to be secured by mobile company

  • alert
  • submit to reddit

Top three mobile application threats

Cable & Wireless will put up its 50 per cent stake in One-2-One as collateral to fuel network expansion. Britain's smallest mobile phone company will be used to secure £3.8 billion in bank loans, according to CBS MarketWatch. The half holding in One-2-One will go to a new funding company set up as a joint venture with investment bank Merrill Lynch. It will fund the acquisition through loans from five top banks. This unconventional financing technique will give Cable & Wireless cash up front. It said the money would be used for acquisitions and investment in its networks. The company has paid £200 million for a call option to buy back the stake at any time over the next 12 months. In a statement, Cable & Wirless said it was: "Ensuring enhanced short-term financial flexibility pending progress on a number of current and potential transactions." One-2-One has been up for sale since March. It currently controls 15 per cent of the UK mobile phone market. Likely buyers include Deutsche Telekom, France Telecom, Mannesmann and Vivendi. ®

3 Big data security analytics techniques

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
Sorry London, Europe's top tech city is Munich
New 'Atlas of ICT Activity' finds innovation isn't happening at Silicon Roundabout
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
prev story

Whitepapers

Designing a defence for mobile apps
In this whitepaper learn the various considerations for defending mobile applications; from the mobile application architecture itself to the myriad testing technologies needed to properly assess mobile applications risk.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.