TeleCity in

Nigel Thomas
29 May, 2015
New York City

European market indexes lacked direction. TeleCity agreed to acquire by the U.S.-based rival Equinix for

[R]4:00 PM Frankfurt – European market indexes lacked direction. TeleCity agreed to acquire by the U.S.-based rival Equinix for £2.35 billion. Eni will buy back €515 million of a Galp Energia exchangeable bond. FirstGroup ordered for 385 new vehicles for £78 million.[/R]

European market indexes lacked direction as investors awaited the latest in Greek debt talks amid conflicting statements from parties involved.

In London trading, FTSE 100 index fell 0.2% or 16.26 to 7,024.49 and in Frankfurt the DAX index dropped 1.8% or 212.72 to 11,465.02.

In Paris, CAC 40 index declined 1.5% or 77.27 to 5,057.49.

For the week, FTSE 100 index gained 0.9% and in Frankfurt the DAX index rose 0.2%.

In Paris, CAC 40 index slumped 1.9%.

For the month of April, FTSE 100 index jumped 1.1% and in Frankfurt the DAX index increased 0.3%.

In Paris, CAC 40 index edged up 0.1%.

Eni SpA fell 0.2% to €16.54 after the Italy-based oil and gas producer announced it will buy back €515 million of a Galp Energia exchangeable bond due in 2015 exchangeable into fully paid ordinary shares of Galp Energia SGPS, S.A. valued €1 a share.

FirstGroup Plc increased 0.5% to 114.20 pence after the U.K.-based transport company said that its bus division today ordered 385 new vehicles worth about £77.7 million.

Macromac Plc plunged 29.3% to 14.50 pence after the Malaysia-based mobile messaging software maker said revenues in the year ending in March soared 23.7% to £5.3 million from £4.3 million in a year ago period.

Net profit in the year tumbled 27.8% from a year ago to £1.3 million from £1.8 million and earnings per share slipped to 1.27 pence from 1.75 pence.

Old Mutual Plc slumped 2.2% to 221.50 pence after the U.K.-based insurance and banking company agreed to sell its Switzerland-based subsidiary Skandia Leben AG for an undisclosed amount.

The transaction is expected to close before the year’s end.

TeleCity Group Plc was halted at 1,090 pence after the U.K.-based information technology agreed to be acquired by the U.S.-based rival Equinix Inc in a cash and stock deal worth about £2.35 billion or $3.6 billion, representing a premium of approximately 27.3% to the price on May 6.

Under the terms, shareholder of Telecity will receive 572.5 pence in cash and 0.0327 new Equinix shares.

The transaction is expected to close in first-half of 2016.

Vivendi SA slipped 0.6% to €23.42 after the France-based media group received clearance from Argentina to become the largest shareholder in the Italian phone group.

Vivendi is likely to book pre-tax gain €4.2 billion from the divestment of Brazilian telecommunications company GVT.