HUTCH & VODAFONE MERGER A brief study on Voodafone’s purchase of stake in Hutchison Telecom International GLOBSYN BUSINESS SCHOOL HUTCH "Hutch" is the GSM mobile network of Hutchison Teleco Limited‚ which is a fully owned subsidiary of Hutchison Telecommunications International Limited (HTIL)‚ a listed company in the New York and Hong Kong stock markets. HTIL is a leading provider of telecommunications services‚ operating or rolling out mobile telecommunications services in 9 countries‚ offering
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THE JOURNAL OF FINANCE • VOL. LXIV‚ NO. 4 • AUGUST 2009 Agency Problems at Dual-Class Companies RONALD W. MASULIS‚ CONG WANG‚ and FEI XIE∗ ABSTRACT Using a sample of U.S. dual-class companies‚ we examine how divergence between insider voting and cash f low rights affects managerial extraction of private benefits of control. We find that as this divergence widens‚ corporate cash holdings are worth less to outside shareholders‚ CEOs receive higher compensation‚ managers make shareholder value-destroying
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IMMIGRNATS PROBLEMS INTRODUCTION Immigration refers to the movement of foreigners into another country with an aim of permanent residence .Immigrants choose to leave their home countries because of a number of reasons‚ including politics‚ family re-unification‚ poverty‚ natural disaster‚ or just a wish to live in new surroundings on a voluntary basis .However‚ immigrants face a number of problems in the destination countries. Common problems that immigrants experience throughout the
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The Agency Cost Problem or Principal-Agent Problem‚ which is believed‚ arises from the separation of ownership and control‚ could be mitigated in many ways. In their paper Jensen and Meckling (1976) mention that if a company fully owned by its managers‚ they will work on maximizing its value. But if a fraction of this equity owned by managers is sold to outsiders‚ the risk borne by them now will have fewer fractions than before. This will be one of the main reasons for management to act on maximizing
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Adolph Coors Company was founded in 1873 in Golden Colorado by Adolph Coors‚ a German American brewer. Coors joined with another German immigrant‚ Jacob Schueler‚ but later bought out his partner in 1880 and became the sole owner of the brewery. Even through prohibition‚ the company managed to stay intact by expanding into other ventures such as Herold Porcelain‚ malted milk and a near beer production facility. By the end of prohibition‚ the company was one of few breweries that survived. For most
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Summary The Vodafone case study has given us a good overall view of the company and shown the companies good and bad points‚ whilst showing the mobile phone business as a whole and explaining the ups and downs of the industry. The SWOT analysis included in the appendix helps us see the situation of Vodafone and describes the strengths‚ weaknesses‚ opportunities and threats. This is an aid when looking at the internal and external aspects of the company. Although Vodafone are the biggest
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DISCUSS THE CAUSES AND COSTS ASSOCIATED WITH PRINCIPAL AGENCY PROBLEM (10) Principal agency problem refers to a conflict arising when people appointed (agents) and entrusted to look after the interests of others (principals) use the authority‚ power or resources for their own benefit instead. It is a pervasive problem and exists in practically every organisation whether a business‚ church‚ club or government. Organisations try to solve it by instituting measures such as tough screening processes
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a paper on | Marketing Strategy for | Vodafone | | [Type the author name] | [Pick the date] | | Table of Contents 1. Executive Summary: 3 2. Introduction to Topic: 3 3. Situation Analysis: 4 2.1. SWOT Analysis: 4 2.1.1. Strengths: 4 2.1.2. Weaknesses: 5 2.1.3. Opportunities: 5 2.1.4. Threats: 6 2.2. PESTLE Analysis: 7 2.2.1. Political Factors: 7 2.2.2. Economic Factors: 8 2.2.3. Sociological Factors: 8 2.2.4. Technological Factors: 8 2.2.5. Legal Factors: 8 2.2.6. Environmental
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Vodafone Group Plc The term VODAFONE comes from Voice Data Fone chosen by the company to reflect the provision of voice and data services over mobile phones. Vodafone Group is a global telecommunication company with headquarters located in Newbury‚ Berkshire United Kingdom. It is the world’s largest mobile telecommunication company with around 341 million users worldwide. It operates network in over 30 countries and has partner networks in over 40 additional countries. Vodafone was formed in 1983
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the Vodafone Case We start of with making the calculations for the premium that Vodafone is going to pay for Mannesmann. We know that Mannesmann will own 47.2% of the equity of the newly combined company. This is 47.2% from € 275 375 million‚ which is €129 997 million. Vodafone is offering 53.7 shares of the value of December 17‚ so € 4‚957‚ for every share of Mannesmann. Mannesmann has 517‚9 million shares‚ so Vodafone would pay 517‚9 million * 53‚7 * € 4‚957 = € 137 860.3 million. This would
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