Friends again hum?

Some guy told me that the important people are always tall, that the wise people are usually old, and the evil-doers, - are all dressed in black. Support this, or, just remind to myself that the World is now looks, feels and seems a long way from that I imagine it should to be? (Moss cao – City) Twice this night they bit me in the head. Twice they take my sleep away. Because I, who don’t invent penicillin, or because I, - who don’t speak French? What is certain though, - is that I’m not getting the professional recognition I deserve. Possibly it comes from that my “colleagues” and “co-workers” who keep taking only the CREDIT for all my ideas. Perhaps “my boss” is threatening by my expertise? Whatever the reason, this sadism in my respect have at least a two cars. One, at the exit, - the black Vauxhall Zafira with African waiting inside. And the another one, - the Saab with ‘cold turkey’ counter espionage operative waiting for my arrival… Seems, that this cross-dressed twats enjoy to keep my head down. However, I don’t want be rude, - but, not seems to you, my respectful COP15’s Ladies and Gentlemen, - that you simply are getting a bit carried away with everything… Minus the elementary decency? Maybe you want argue that save the Earth had a too repetitive rollbacks… The first called the Portland 450 cement’s outstanding debts to ‘no one’. And the second one, this is more poppy poo yet, - the “VIVO!” Friends again hum?

Telefonica Close to Gaining Control of Vivo After Raised Bid. Jun 2, 2010. Telefonica SA moved closer to taking charge of Brazil’s largest wireless operator after raising the bid for Portugal Telecom SGPS SA’s stake in the venture that controls it by 14 percent to 6.5 billion euros ($7.9 billion). Portugal Telecom said late yesterday that it’s calling a shareholders’ meeting to vote on the revised offer and appointed three top executives to negotiate with Telefonica. The Lisbon- based company’s board said the new offer “does not reflect the strategic value of the asset for Telefonica.” The directors on May 10 unanimously rejected the initial 5.7 billion-euro bid. “The offer is high enough to entice Portugal Telecom’s institutional investors to accept the offer and low enough to allow Telefonica to acquire the asset at a level that leaves significant potential upside,”Georgios Ierodiaconou, an analyst at ING Groep NV, said today in a note. “We do not rule out a sweetener ahead of the extraordinary general meeting.” Telefonica Chairman Cesar Alierta needs to control Vivo Participacoes SA as competition intensifies in the Brazilian mobile-phone market, South America’s largest. Vivendi SA and Mexican billionaire Carlos Slim-controlled America Movil SAB are rapidly expanding in the country. Alierta aims to combine Vivo withTelecomunicacoes de Sao Paulo SA, or Telesp, Telefonica’s Brazilian fixed-line unit, whose sales have slid. The Spanish company is seeking growth in Brazil as demand slows in the more-mature markets in Europe. Brazil’s economy is forecast to grow this year by the most in more than two decades, expanding 6.5 percent after shrinking in 2009, according to a central bank survey of about 100 economists published in May. Portugal Telecom rose as much as 7.7 percent to 9.12 euros in Lisbon trading, and was up 1.2 percent as of 10:25 a.m. Telefonica fell 1.4 percent to 15.39 euros in Madrid.
‘Can’t Refuse’ Under terms offered by Madrid-based Telefonica, if Portugal Telecom accepts the revised bid, the Spanish company will grant it a call option on the 10 percent stake it owns in the Portuguese operator. The offer for control of Vivo can be executed “immediately” or at Portugal Telecom’s discretion during a three-year period, Telefonica said in a filing. “Telefonica makes an offer Portugal Telecom cannot refuse,” Sanford C Bernstein Ltd. analysts including Robin Bienenstock said in a note today.
Telefonica is bidding for full control of Brasilcel NV, its unlisted 50-50 joint venture with Portugal Telecom that owns about 60 percent of Vivo. The higher bid will also boost the offer to other holders of Vivo voting shares, which will rise to 80 percent of the value assigned to Portugal Telecom’s Vivo voting shares. The bid would be at about 100 reais per share, Bernstein analysts said. “Taking this matter to an EGM increases strongly the likelihood of a bid acceptance,” Pedro Pinto Oliveira, an analyst at Oporto, Portugal-based Banco BPI SA, wrote in a note. Telefonica’s Interest Telefonica’s offer follows America Movil’s $24.5 billion plan, announced in January, to take over Telmex Internacional SAB to combine its wireless and land-line operations in South America. America Movil and Telmex Internacional are both controlled by Mexico’s Slim. It also comes after Vivendi last year outbid Telefonica in a takeover battle for Brazilian phone company GVT (Holding) SA. Telefonica CEO Alierta first publicly voiced his interest in taking over Vivo in 2006, seeking to combine it with the company’s Telesp fixed-line unit, which offers home-phone and Internet services in the state of Sao Paulo. Telesp posted a 1.4 percent drop in first-quarter sales in local-currency terms and a 14 percent slump in operating income before depreciation and amortization.
Winning control of Vivo would eliminate the need for Telefonica to pursue other options, including a takeover of Telecom Italia SpA’s Brazilian unit Tim Participacoes SA. For Portugal Telecom “For Telecom Italia this may be viewed as a short-term negative as the M&A premium that some may have attached the share price near term will now no doubt fade,” Bernstein analysts said. “There are however other companies potentially interested in purchasing TIM Brasil.” Some Portugal Telecom investors, who oppose Telefonica’s efforts, said the Portuguese company will need a presence in Brazil. Jose Maria Espirito Santo Ricciardi, chief executive officer of Banco Espirito Santo’s investment banking unit, said on May 27 that the Portuguese operator will either need to buy Telefonica out of Vivo or find another company in Brazil. Vivo has driven revenue growth for Portugal Telecom as sales in Europe have slowed and competition increased at home. Its Brazilian sales rose 4.1 percent to 3.2 billion euros last year, while revenue from Portugal declined 1.9 percent. Vivo had 30 percent of Brazil’s 179 million wireless subscriptions at the end of March, according to phone regulator Anatel. Market Growth Portugal Telecom may try to buy a stake in Tele Norte Leste Participacoes SA, known as Oi, if it exits Vivo, Maria Tereza Azevedo, a telecommunications analyst at Link Corretora in Sao Paulo, said on May 31. Brazil’s wireless market will expand 11 percent to 193 million subscribers this year, down from 15 percent growth in 2009, according to a Banco Santander SA research note. Credit Suisse Group AG and UBS AG were hired by Telefonica on its plans to take control of Vivo, while Bank of America Merrill Lynch is working for Portugal Telecom, bankers familiar with the matter said.

Most ex-BP fuel oil traders go to China Brightoil –sources. 11:29am BST. SINGAPORE, June 2 (Reuters) - Most of the former BP fuel oil traders, who recently resigned from the major's Asian and U.S. units, are expected to join Chinese trading firm Brightoil Petroleum, four industry sources said on Wednesday. They include BP's former global head of fuel oil, Quek Chin Thean, ex-Asia team leader Edmund Lau and ex-chief U.S. fuel oil trader Tim Gawne, the sources said. Some other members of the trading team and support staff who left the oil major are also set to join the Hong Kong-listed Brightoil (2910.HK: Quote, Profile, Research). Brightoil chairman Raymond Sit could not be reached for comment on the matter. Reuters had reported that 14 traders and support staff of BP's fuel oil trading operations worldwide quit in the past month. Brightoil's hiring of the bulk of the ex-BP traders is seen as a coup that would benefit its trading capabilities, particularly in physical fuel oil cargo trading, where it does not yet have a presence, traders said. "Brightoil has got a substantial presence in the South China bunker market and are growing in other parts of the country. Right now, they are buying cargoes from Singapore to supply their China outlets," an industry source said. "With the entry of the BP guys, they would be able to source for their own cargoes, do the blending themselves to optimise value and trade larger positions, especially in the swaps market. After all, that's what the BP guys have made a career of doing successfully in the past 10 years or more." However, traders said Brightoil would have to expand its trading infrastructure in Singapore, particularly its oil storage capacity, if it has ambitions to be a major player in the market. (Reporting by Clarence Fernandez)

“The VIVO should not sell for less than 8 billion" 02/06/10 24:15. The brokerage Orac has no doubts: the new offer from Telefónica by the position of PT in Vivo does not reflect the value of the Brazilian operator. "We believe the value of the new offer is far from enough," said Christopher Nicholson, director of the brokerage ORAC, in an interview with Bloomberg, after yesterday's Telefonica have risen to the proposal by Vivo, from 5.7 to 6.5 billion. "Portugal Telecom should wait at least 80-10 billion euros because of the strategic importance of Vivo. Without the Brazilian operator [PT] is not growing," he explained. For Christopher Nicholson is unclear whether shareholders of PT will or will not make the deal at the general meeting to be convened to decide on the matter. "Shareholders will certainly think that if they do not accept now, may not receive another offer of this magnitude in the medium term," he said. In today's session, the shares of PT soared more than 7% and is now 2.11% to 8.64 million (see graph). Check out all the quotes

Berardo PT advised to stay in Brazil. Economic with Lusa. 02/06/10 12:05. The businessman Joe Berardo says it would be preferable for Portugal Telecom to maintain a position in Vivo, even a minority.Speaking to the agency Lusa, Berardo held that "if possible", the PT should get a percentage of the new company, together with Telefónica. "I personally like to see the PT in Brazil continue with Telefónica, even with a minority percentage [Vivo], for example, 5%, it would be interesting," he said, the purpose of the new company's offer Spanish for the purchase of position in the mobile telecommunications company in Brazil. Besides the offer for the participation of Brasilcel - a company that owns 60% of Vivo - by 6.5 billion, the Spanish operator is prepared to leave for Portugal Telecom, which owns 10% of capital. Entrepreneur noted that "it was interesting to" maintain "a relationship with Telefónica in Brazil," a company "that has some advantages." "I hope that Portugal, with this, do not leave Brazil," he said. Asked about the possibility of the state to use the "golden share", Joe Berardo, said that "it will be very complicated." "We're not talking about an offer for PT. It is very difficult in that way. I hope that it will be resolved between you and that we reach an understanding not to walk in court again," said. The decision to convene a general meeting, Berardo considered that it was "progress."
"It is good progress also put the responsibility for deciding the shareholders. Administration of PT made the right decision is to convene the shareholders to convey more information and alternatives and they will do for the future," he said.

BES supports the convening of the AG to decide on sale of EN VIVO. Economic with Lusa
02/06/10 11:37. BES supports the decision of PT to convene a general meeting to decide on the sale of Vivo, after Telefónica has improved the offer to 6.5 billion. "BES Group fully endorses the position that the board took the PT in a statement," the bench headed by Ricardo Salgado, who owns 7.99% of PT, Lusa. Telefonica has improved its offer yesterday by the position of Portugal Telecom (PT) in Vivo holds to 6.5 billion. In response, the administration of PT said in a statement it decided to request the convening of a general meeting for shareholders if the Portuguese operator can decide on the bid of Telefónica. During the visit last week, the top managers of companies of 20 PSI to New York Stock Exchange, Ricardo Salgado said that "everything has a price, less the honor." At the time, on the table, was the possibility of Telefonica to launch a hostile takeover bid on PT, where the purchase of the Portuguese position in Vivo not succeed. PT and Telefonica holds 50% each Brasilcel the holding company that controls 60% of the Brazilian mobile operator VIVO.