From TechCrunch - Uber Acquires Part Of Bing’s Mapping Assets, Will Absorb Around 100 Microsoft Employees.
Don't know what to make of it in the scheme of things. Maybe nothing.
I used to get comped regularly in Vegas until the VIP guy at Bellagio told me in so many words that I wasn't gambling enough. LOL! By then it was too late. I had already tried every property at the CityCenter and made money buying puts on MGM after every trip.
Now AT is where the French can really make themselves useful and make their 1/3 stake in Nokula even more valuable. It may require the French to hide in the shadows and hit below the knees of all those on high horses in the standards committees ;-)
I currently have AT at a $3-4+ billion a year recurring royalty run rate within 5 years. Nokia already has established a very good litigation record for its standard and non-standard essential patents so I think they will continue to manage this separately.
Alcatel's patent portfolio could potentially bring in $1-$2+ billion a year more if they can ever unencumber the wireless part of that portfolio. Combes referred several times to a memorandum of understanding with an unidentified company that will go a long way towards re-monetizing that portfolio which, according to Goldman Sach, generated 2.1 billion euros in royalties from 2002 to 2012. Now it is only doing 15 million euros a quarter, primarily I think from that TCL brand licensing agreement that goes all the way back to the mid-2000s.
That unidentified company is probably Qualcomm. There is a patent thicket between Qualcomm and Lucent that goes all the way back to the early days of CDMA in the 1980s when Qualcomm drove and Bell Labs/Lucent rode shotgun Then there is the 2005 Flarion deal where Qualcomm paid around $600 million for Flarion plus an additional $200 million for around 150 OFDM patents.
OFDM is the base technology of 4G LTE and Alcatel is currently pushing a more advanced version as the 5G air interface.
Yeah, I've been here three years and I don't recall downtrendpumper. $20, or $2 in 2.
Consider my post as a general remark only loosely relating (but still relating) to josh's post above.
Only those, who understand the unlimited power of comprehensive domestic and international surveillance (corporate espionage) especially… corporate world, their businesses, communications, new technologies, innovation designing and pipeline, as well human personnel will have significant advantage over others and will control and rule the future world. People around the world only begin to understand the significance of that issue. Snowden opened many eyes…
20 is both doable and likely if earnings pan out in AT...
Sentiment: Strong Buy
Well, Nokia seems to have a generally positive news pipeline until the deal comes up for a vote next year so I think they will get 50% plus 20-30%. The 25% vote against Camus' pay package in the last ALU shareholders meeting suggests the level of ALU shareholders who will not tender their shares. Elliot could make it closer on the ALU side, but you have to wonder if they see the greater value in unlocking the combined values of AT and HERE down the road. Why even bother with parting out a proven bleeder like ALU? The French aint' the Argentines.
Is there any chance that Nokia shareholders will nix the deal? The vote needs to be 50% to be approved. But with low institutional ownership (10%) and Inside ownership is there an outside chance the deal could get voted down? The stock is down about 14% since the deal was announced. FWIW, not much, I plan on voting against it
Well, it is too late now. I voted with my feet the day before the announcement when I saw the faint outlines of how the French upsold Nokia real good. The facts on the ground are changing too.
The only real overlap between Nokia and Alcatel is in wireless. Alcatel Wireless (ttm revenues - $5B) is basically 8 of the top 10 wireless networks plus a host of smaller operators. Most of these operators will probably require Nokia and Alcatel to support their existing equipment for 3-5 years unless Nokula can consolidate those product lines faster, cheaper and better. That makes you wonder about the cost synergies.
Sprint has the most aggressive upgrade plan (NGN) that will probably force Nokia and Alcatel to consolidate their product lines even before the deal closes in mid-2016. Sprint wants to be the No. 1 or No. 2 network in 2 years.. I think that will start to show up in the numbers of Nokia (good) and ALU (bad) starting in the September quarter so the ground will constantly be shifting for those that want to sweeten the deal.
Now...old BS.... time to buy more... don't wait.. don't delay... buy now...another opportunity to buy low...didn't we hear it many times before...
I think the use of equity swaps suggests they are playing it by ear. It's probably a small part of a macro play too.
I don't think they can get Nokia to pay more cash to Alcatel shareholders. They will get 1/3 of the upside anyway if Nokia can make the acquisition work so why should Nokia effectively give cash that can be better put to use in that 2-3 year effort to make that Alcatel pig fly.
With the right propulsion system, pigs can fly, you know ;-)
First of all, I have no doubts, that.... BR cabal, exploits NOK predicament to the MAX in EU...yes that's why they are in pumping/hyping business... their behavior yesterday is telling a lot...