T-Mobile, Sprint Deal Wins U.S. Approval; Cherry AB Receives LBO Offer

Sarla Buch
18 Dec, 2018
New York City

Cherry AB surged on takeover bid. T-Mobile and Sprint won takeover approval from the U.S. national-security officials. Eiffage SA agreed to buy 5.3% stake in the tunnel operator Getlink. Royal Dutch Shell is in talks to buy Endeavor Energy Resources.

[R]4:00 PM Frankfurt – Cherry AB surged on takeover bid. T-Mobile and Sprint won takeover approval from the U.S. national-security officials. Eiffage SA agreed to buy 5.3% stake in the tunnel operator Getlink. Royal Dutch Shell is in talks to buy Endeavor Energy Resources.[/R]

In London trading, FTSE 100 index slumped 31.14 or 0.5% to 6,742.10 and in Frankfurt the DAX index increased 52.53 or 0.5% to 10,824.73.

In Paris, CAC 40 index slid 8.89 to 4,790.97.

Cherry AB surged 18.5% to 85.90 Swedish kronor after Sweden-based private equity fund Entertainment Intressenter BidCo AB and the consortium led by private equity fundBridgepoint offered 87 kronor or £7.60 per share in cash or about 9.2 billion kronor or £806 million to the online casino and lotteries services provider.

Deutsche Telekom AG fell 0.4% to €15.16 after Germany-based telecom services provider’s subsidiary T-Mobile US Inc and Sprint Corp won approval from the U.S. national-security officials for its $26 billion planned merger.

T-Mobile said transaction is expected to close in the end of first-half next year.

Getlink, formerly Groupe Eurotunnel jumped 5% to €11.95 after France-based builder Eiffage SA agreed to buy 5.3% stake in the domestic tunnel operator between France and the U.K.

Royal Dutch Shell Plc slumped 1.8% to €25.36 pence after Bloomberg reported the Netherlands-based oil and gas producer is in talks to buy Endeavor Energy Resources LP for about $8 billion.

In November, Endeavor said it plans to launch its public offering in 2019.