TELEFÓNICA INSISTS MAJOR DEALS ARE OUT
Telefónica spent more tan EUR 100 billion during the past decade to build up operations in 22 countries. Now, Telefónica's Chief Financial Officer, Santiago Fernández, said the company has sworn off big deals and will push for internal growth. WSJ added that this is an important turn for investors that are still skittish about Telefónica's EUR 55.1 billion debt pile. (The Wall Street Journal)
TISCALI EXPANDS PRECENCE IN THE U.K
Tiscali agreed to buy Pipex Communications PLC's broadband and voice businesses for EUR 310.43 million in a deal that expands Tiscali's presence in the United Kingdom. Tiscali already makes most of its revenue in the United Kingdom and has reshaped itself in the past 18 months with asset sales and a renewed focus on its Italian and U.K. operations. (Financial Times)
PROVIDENCE REVIVES ITS VIRGIN MEDIA INTEREST
FT wrote that Virgin Media is understood to have been approached by Providence, the private equity group, about reviving its interest in taking over the cable group. First-round offers are expected next month, with the second round in August. (Financial Times)
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