>>> ISSI may be required to divest most of Taiwan assets to satisfy regulator

Deal Reporter

ISSI may be required to divest most of Taiwan assets to satisfy regulator – sources

Integrated Silicon Solution Inc [NASDAQ: ISSI], the Milipitas, California-based memory chip designer may be required to sell most, if not all, of its businesses in Taiwan to clear the scrutiny from the country's Investment Commission (IC), according to two sources familiar with the regulator.

Shareholders approved on 29 June a sale of the company to China’s Uphill Investment – led by Summitview Capital, eTown MemTek Ltd., Hua Capital and Huaqing Jiye – for USD 23 per share in cash. The transaction is subject to clearance by the Taiwan IC and several additional regulators including the Committee of Foreign Investment of the United States (CFIUS).

Under the ISSI merger agreement, the company and buyer have agreed to formulate a "Taiwan plan" to restructure ISSI and its subsidiaries to allow the transaction to be consummated under Taiwan law. If they are unable to draft a viable restructuring plan, they have agreed to divest the subsidiaries incorporated in Taiwan.

ISSI's legal representatives in Taiwan are said to have prepared different divestment packages to the IC in past few months. The packages ranged from fully divesting the Taiwan assets to non-Chinese third parties, restructuring part of the assets alongside selling some of them, and restructuring most of the assets while keeping them under ISSI's control, the sources said.

Although no final restructuring or divestment packages have reached the IC as of early July, the IC prefers the most conservative divestment package – in which most or all entities are divested – given the nature of the Taiwanese subsidiaries, according to the sources.

Under Taiwan law, entities controlled by Chinese companies or funds are not allowed to own any interests, no matter directly nor indirectly, in Taiwanese semiconductor chip designers, the source explained. As a result, ISSI's chip designing businesses in Taiwan are expected to be divested before the transaction is closed.

ISSI has four companies in Taiwan, three of which it acquired in 2005, 2009, and 2012 respectively. The Taiwan subsidiaries – most of them are operating in memory chip designing sector – includes Integrated Circuit Solution (ICSI), Enable Semiconductors, Chingis Technology Corporation, and an entity set up by ISSI.

This news service reported in April that ISSI has identified “at least four or five options” regarding the possible divestiture of one or more of its businesses in Taiwan as part of its deal to sell to a Chinese consortium.

No matter which option ISSI and its buyer pursue, Taiwan's IC will look to see that the controlling interests are not owned by Chinese entities, as well as that the core technology/patent pool of ICSI and Chingis will not be shared with the Chinese entities post acquisition, as earlier reported.

Typically, an IC review takes up to 60 calendar days, but so far the IC has not yet started to look at the final version of ISSI's restructuring/divestment plan.

ISSI said on 26 June that it expects the acquisition to close in the third calendar quarter of 2015.

ISSI's stock traded at USD 21.85 apiece, or 5% lower than the offer price, on Tuesday.

T-Mobile Adds 2.1 Million Customers in the Second Quarter 2015

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BN 07/09 11:01 *TMUS 2Q 1.3% BRANDED POSTPAID PHONE CHURN BN 07/09 11:01 *TMUS 2Q 178,000 BRANDED PREPAID NET CUSTOMER ADDITIONS BN 07/09 11:01 *TMUS 2Q 760,000 BRANDED POSTPAID PHONE NET CUSTOMER ADDITIONS BN 07/09 11:00 *T-MOBILE 2Q OVER 1M BRANDED POSTPAID NET CUSTOMER ADDITIONS BFW 07/09 11:00 *T-MOBILE ADDS 2.1M CUSTOMERS IN 2Q ’15 BN 07/09 11:00 *T-MOBILE 2Q NET CUSTOMER ADDITIONS UP 41% BN 07/09 11:00 *T-MOBILE ADDS 2.1M CUSTOMERS IN 2Q 2015 BN 07/09 11:00 *T-MOBILE ADDS 2.1M CUSTOMERS IN 2Q '15

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T-Mobile Adds 2.1 Million Customers in the Second Quarter 2015 2015-07-09 11:00:00.185 GMT

T-Mobile Adds 2.1 Million Customers in the Second Quarter 2015

Customers Continue to Flock to America’s Un-carrier for Choice, Flexibility and Value

* 2.1 million total net customer additions, up 41% year-over-year -- 9^th consecutive quarter with over 1 million * More than 1 million branded postpaid net customer additions, up 11% year-over-year -- 4th consecutive quarter with over 1 million * 760,000 branded postpaid phone net customer additions, up 31% year-over-year -- demonstrating a continued focus on the most valuable customer segment of the market * 178,000 branded prepaid net customer additions, up 75% year-over-year -- growing the industry’s biggest and best prepaid brands * 1.3% branded postpaid phone churn -- continued record-low churn and a year-over-year reduction of 16 basis points

Business Wire

BELLEVUE, Wash. -- July 9, 2015

T-Mobile US, Inc. (NYSE:TMUS) today provided a preliminary view of key customer results for the second quarter of 2015, once again demonstrating continued strong momentum and positive customer response to its Un-carrier moves. The Company generated 2.1 million total net customer additions, including over 1.0 million branded postpaid net customer additions. This marks the ninth consecutive quarter that T-Mobile has delivered over 1 million total net customer additions and the fourth consecutive quarter with over 1 million branded postpaid net customer additions.

“T-Mobile’s momentum continued in full force for the second quarter, with 2.1 million customers voting in favor of the Un-carrier,” said John Legere, President and CEO of T-Mobile. “Now we are doubling down again with Un-carrier Amped! Once again making it absolutely clear that...We Won’t Stop!”

Preliminary Second Quarter 2015 Customer Results

In the second quarter of 2015, T-Mobile added 2.1 million customers, bringing its total customer base to 58.9 million across postpaid, prepaid and wholesale. Total net customer additions were up 41% year-over-year and 14% sequentially.

T-Mobile reported continued strength in its branded postpaid customer segment in the second quarter of 2015. Total branded postpaid net customer additions were more than 1.0 million, up 11% compared to the prior year. Branded postpaid phone net customer additions were 760,000, up 31% compared to the prior year. Branded postpaid mobile broadband net customer additions were 248,000, down compared to last year, but up 85% sequentially.

“T-Mobile continues to win with the industry’s most valuable customer segment - postpaid phone customers,” continued Legere. “We attract phone customers with signature moves that resonate and with the nation’s fastest 4G LTE network.”

Branded prepaid net customer additions were 178,000 in the second quarter of 2015, which represents an improvement of 144% sequentially and 75% year-over-year. Branded prepaid to branded postpaid migrations of approximately 175,000 were down sequentially.

Wholesale net customer additions in the second quarter of 2015 were 886,000, up 93% year-over-year and 43% sequentially.

Branded postpaid phone churn of 1.3% in the second quarter of 2015 was down 16 basis points year-over-year, essentially flat from the record-low in the first quarter of 2015. The year-over-year decrease in churn reflects ongoing improvements in T-Mobile’s network as well as the increased customer value provided through Un-carrier innovations.

T-Mobile expects to report full financial results for the second quarter of 2015 on July 30, 2015.

Preliminary Customer Results and Churn Metrics

The following table sets forth the number of ending customers:

      As of June 30,     March 31,     June 30, (in thousands) 2015 ^(1) 2015 2014 Customers, end of period Branded postpaid phone customers 27,595 26,835 23,633 Branded postpaid mobile broadband 1,723 1,475 897 customers Total branded postpaid customers 29,318 28,310 24,530 Branded prepaid customers 16,567 16,389 15,639 Total branded customers 45,885 44,699 40,169 M2M customers 4,529 4,562 4,047 MVNO customers 8,494 7,575 6,329 Total wholesale customers 13,023 12,137 10,376 Total customers, end of period 58,908 56,836 50,545  

The following table sets forth the number of net customer additions (losses):

      Three Months Ended     % Change June 30,     March     June Qtr/Qtr     Year/Year 31, 30, (in thousands) 2015 ^(1) 2015 2014     Net customer additions (losses) Branded postpaid phone 760 991 579 (23 )% 31 % customers Branded postpaid mobile 248   134 329 85 % (25 )% broadband customers Total branded postpaid 1,008 1,125 908 (10 )% 11 % customers Branded prepaid 178   73 102 144 % 75 % customers Total branded 1,186   1,198 1,010 (1 )% 17 % customers M2M customers (33 ) 141 225 NM NM MVNO customers 919   479 235 92 % NM   Total wholesale 886   620 460 43 % 93 % customers Total net customer 2,072   1,818 1,470 14 % 41 % additions

NM - Not meaningful.  

The following table sets forth the churn:

      Three Months Ended     bps change June 30,     March     June Qtr/Qtr     Year/Year 31, 30, 2015 2015 2014     ^(1) Branded postpaid phone 1.32% 1.30% 1.48% +2 bps -16 bps churn Branded prepaid 4.93% 4.62% 4.50% +31 bps +43 bps churn

^(1) The Company's customer results for the second quarter of 2015 are preliminary and subject to completion of the Company's quarter-end closing review procedures. Full second quarter results are expected to be reported on July 30, 2015.  

T-Mobile Social Media

Investors and others should note that the Company announces material financial and operational information to its investors using its investor relations website, press releases, SEC filings and public conference calls and webcasts. The Company also intends to use the Twitter accounts @TMobileIR and @JohnLegere, which Mr. Legere also uses as a means for personal communications and observations, as means of disclosing information about the Company and its services and for complying with its disclosure obligations under Regulation FD. The information we post through these social media channels may be deemed material. Accordingly, investors should monitor these social media channels in addition to following the Company’s press releases, SEC filings and public conference calls and webcasts. The social media channels that the Company intends to use as a means of disclosing the information described above may be updated from time to time as listed on the Company’s investor relations website.

About T-Mobile US, Inc.

As America’s Un-carrier, T-Mobile US, Inc. (NYSE:TMUS) is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company’s advanced nationwide 4G LTE network delivers outstanding wireless experiences to approximately 59 million customers who are unwilling to compromise on quality and value. Based in Bellevue, Washington, T-Mobile US provides services through its subsidiaries and operates its flagship brands, T-Mobile and MetroPCS. For more information, please visit http://www.t-mobile.com.

Forward-Looking Statements

This news release includes “forward-looking statements” within the meaning of the U.S. federal securities laws. Any statements made herein that are not statements of historical fact, including statements about T-Mobile US, Inc.’s plans, outlook, beliefs, opinion, projections, guidance, strategy, integration of MetroPCS, expected network modernization and other advancements, are forward-looking statements. Generally, forward-looking statements may be identified by words such as “anticipate,” “expect,” “suggests,” “plan,” “project,” “believe,” “intend,” “estimates,” “targets,” “views,” “may,” “will,” “forecast,” and other similar expressions. The forward-looking statements speak only as of the date made, are based on current assumptions and expectations, and involve a number of risks and uncertainties. Important factors that could affect future results and cause those results to differ materially from those expressed in the forward-looking statements include, among others, the following: our ability to compete in the highly competitive U.S. wireless telecommunications industry; adverse conditions in the U.S. and international economies and markets; significant capital commitments and the capital expenditures required to effect our business plan; our ability to adapt to future changes in technology, enhance existing offerings, and introduce new offerings to address customers’ changing demands; changes in legal and regulatory requirements, including any change or increase in restrictions on our ability to operate our network; our ability to successfully maintain and improve our network, and the possibility of incurring additional costs in doing so; major equipment failures; severe weather conditions or other force majeure events; and other risks described in our filings with the Securities and Exchange Commission, including those described in our Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 19, 2015. You should not place undue reliance on these forward-looking statements. We do not undertake to update forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

View source version on businesswire.com: http://www.businesswire.com/news/home/20150709005340/en/

Contact:

Press Contact: Media Relations T-Mobile US, Inc. mediarelations@t-mobile.com http://newsroom.t-mobile.com or Investor Relations Contact: Nils Paellmann T-Mobile US, Inc. 877-281-TMUS or 212-358-3210 investor.relations@t-mobile.com http://investor.t-mobile.com

-0- Jul/09/2015 11:00 GMT

(BN) Boeing Secures $4.6 Billion China Eastern Order for New Aircraft

Boeing Secures $4.6 Billion China Eastern Order for New Aircraft
2015-07-09 09:03:17.94 GMT


By Anand Krishnamoorthy
(Bloomberg) -- Boeing Co. won an order from China Eastern
Airlines Corp. valued at $4.6 billion in list prices for single-
aisle jets as Chinese carriers purchase new planes amid surging
travel demand.
China Eastern ordered 50 single-aisle 737 aircraft, the
Shanghai-based carrier said in a statement to the Hong Kong
stock exchange Tuesday. Each plane has a price of about $91
million, the company said in the statement, though airlines
usually get discounts from list prices. The planes would be
delivered between 2017 and 2019.
Last year, China Eastern placed an order for 80 737 jets
valued at $7.4 billion. Chinese carriers are bringing in more
orders for Boeing and its European rival Airbus Group SE as
growth in the world’s second-largest economy enables more people
to fly. China is poised to become the world’s biggest travel
market in under two decades.

For Related News and Information:
Boeing Expects to Hand Over 140 Planes to China This Year (1)
NSN MZS5K76KLVSH <GO>
Boeing Sees China Demand at 5,580 Planes Over Next 20 Years
NSN MSN1JQ6JTSFE <GO>
Top Stories:TOP<GO>

To contact the reporter on this story:
Anand Krishnamoorthy in Singapore at +65-6212-1165 or
anandk@bloomberg.net
To contact the editors responsible for this story:
Anand Krishnamoorthy at +65-6212-1165 or
anandk@bloomberg.net
Michael S. Arnold

>>> Regeneron Pharms and Sanofi (SNY) present results from ongoing 52 week ODYSS

Regeneron Pharms and Sanofi (SNY) present results from ongoing 52 week ODYSSEY JAPAN trial showing LDL-C reductions in more than 60% of patients

Regeneron Pharmaceuticals (REGN) and Sanofi (SNY) announced that the Phase 3 ODYSSEY JAPAN trial of the investigational therapy Praluent Injection met its primary endpoint.
  • At week 24, patients in the Praluent group experienced an average 64% greater reduction from baseline in their bad cholesterol, known as low-density lipoprotein cholesterol (LDL-C), when added to current standard of care including statins, compared to standard of care alone
  • Patients were started on the lower dose of 75 mg, with the option to adjust their dose to 150 mg if they had not achieved their LDL-C goal (as defined by the Japan Atherosclerosis Society guidelines) at week 8. At week 24, 97% of patients in the Praluent group reached their LDL-C treatment goal, compared to 10% for placebo
  • Ninety-nine% of patients treated with Praluent remained on the lower dose; two patients required adjustment to the higher dose.