MTN in talks to acquire Vodacom DRC unit -Bloomberg
Vodacom owns a 51 percent stake in the DRC unit, with the
remainder held by Congolese Wireless Network. The two companies
have been in arbitration after disagreeing over fees from the
joint venture.Congolese Wireless Network chairman Alieu Conteh told
Reuters last year that Vodacom Congo was worth more than $1.5
billion, a valuation that Vodacom described as “ludicrous”
without offering an alternative figure.No one was immediately available for comment a Vodacom or
MTN.
UPDATE 1-Microchip cuts Q2 outlook on soft demand
* Sees Q2 rev $340.6 mln vs est $362 mln* Shares fall 2 pct in extended tradeOct 13 (Reuters) - Microchip Technology Inc
forecast disappointing July-September results, saying its
business did not pick up towards the end of the quarter as it
had hoped, as a weak economy squeezes demand in the chipmaking
industry.The company, which makes chip products used for a range of
embedded control applications, expects second-quarter adjusted
earnings of 45-47 cents a share on sales of $340.6 million.On Aug. 4, the company had forecast adjusted earnings of
50-54 cents a share, on sales of $352.0-370.8 million.Analysts, on average, were looking for a profit of 52 cents
a share, on revenue of $362 million, according to Thomson
Reuters I/B/E/S.”We experienced incrementally stronger headwinds and saw no
seasonal Christmas build, which in turn adversely impacted all
of our product lines and sales channels,” Microchip Chief
Executive Steve Sanghi said in a statement.The company, expected to report second quarter results on
Nov. 3, said its two facilities in Thailand, located almost 50
miles east of Bangkok, are running normally and meeting customer
demand for its products.Floods that have covered a third of Thailand and have forced
the closure of scores of factories in the country and have
impacted operations at a number of companies including U.S.
chipmaker ON Semiconductor Corp and Microsemi Corp
.Chandler, Arizona-based Microchip’s shares were down 2
percent at $34.71 in extended trade. They had closed at $35.31
on Thursday on Nasdaq.
