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AT&T Completes Purchase of Time Warner et al

Professor of Financial Economics and Part-time Value Investor, Transfin.
Jun 15, 2018 11:02 AM 2 min read
Editorial

End of Day Wrap-up (Friday / June 15, 2018) #Amazon #TCS #Softbank #Trump #TimeWarner #China #WeWork #Transfin

Editor's comment: TCS board clears INR16,000 crore share buyback at INR2,100 per equity share, 15% premium to current price. The buyback, at Rs 2,100 per equity share, entails up to 76.1 million shares or 1.99 per cent of the total paid up equity share capital.  

Wholesale inflation at 14 month high of 4.43% in May, driven by increasing fuel and vegetable prices. Increase in domestic fuel price in line with rising global crude oil.

 

SoftBank to invest $60bn-$100bn in solar power project in India, as per reports. Investment to flow through the fund backed by Saudi Arabia's government. 

 

President Trump approves tariffs on c.$50bn of Chinese goods, comprising c.1,300 categories of products. Tariffs when tariffs to go in effect remains unclear. 

 

SoftBank in conversation with shared-office company WeWork to invest another round, now valuing the company at $35bn-$40bn. Latest investment to double WeWork's valuation, last pegged at $20bn after SoftBank's $4.4bn injection. The New York based firm to become the 2nd most valuable privately held company after Uber. Rajeev Misra, head of SoftBank's Vision Fund driving the process. 

 

AT&T completes purchase of Time Warner, as Department of Justice does not ask for 'legal delay'. The $81bn cash and stock deal would result in $180bn of net debt for AT&T.