JAZ SM +3.39%, already decent volume today - we have been buyer since this morning.
----- Original Message -----
From: LAURENT CHEKROUN ()
At: Mar 25 2014 08:14:02
From: LAURENT CHEKROUN ()
At: Mar 25 2014 08:14:02
Orange prepares bid for Jazztel with adviser Bank of America Merrill Lynch; deal could be worth EUR 2.7bnFrench teleco Orange has appointed Bank of America Merrill Lynch to prepare an offer for the Spanish cable company Jazztel (JAZ:SM), El Confidencial reported citing financial sources. Orange has been working with the bank for several weeks to analyse an offer worth almost EUR 2.7bn, according to the report.Other sources said that talks have been on and off for some time without the parties having reached any agreements, the Spanish-language report said.Jazztel reported EUR 1.044bn revenue in 2013 up 15% on the previous year, EBITDA of EUR 184m (up 7%) and net profit of EUR 67.6m (up 9%), the report noted.Source El Confidencial