Deutsche Telekom AG said Wednesday in a press release that the waiting period required by the US anti-trust laws in respect of the merger between its subsidiary T-Mobile USA and mobile operator MetroPCS Communications (NYSE:PCS) had passed without any objection being received from the Department of Justice, the main regulator in charge of the process. “Deutsche Telekom has reached an important staging post at the approval process of the merger of its subsidiary T-Mobile USA and MetroPCS,” said Deutsche Telekom in a press release. The two companies, the fourth and fifth largest telecom providers in the US, hope to gain scale by combining in a reverse merger transaction that will result in Deutsche Telekom ultimately holding 76 percent of the merged organisation.
Chinese mega search engine Baidu Inc (NASDAQ:BIDU) Chief Executive Robin Li revealed Wednesday on the sidelines of a conference in Beijing that the company was agreeable to the idea of acquiring companies that created products for smartphones. He clarified, “Whenever we can find some company that already has what we want to own, we prefer to buy rather than build it,” stressing that it was keen to build up subscriber interest in the mobile products, and that profitability could follow later.
Sally Beauty Holdings Inc (NYSE:SBH) announced the approval by its Board of Directors of a new share repurchase program worth $700 million. This is the third repurchase authorised in 12 months. In August 2012 the board authorised a $300 million program of which about $266.4 million was utilised. The remainder of $33.6 million has been merged into the new program of $700 million announced today. “Our strong cash flow allows us to continue the repurchases of our stock while continuing to invest in growth opportunities and other long-term initiatives,” said Gary Winterhalter, Chairman, President and CEO. “We believe our recent stock repurchases have returned value to our shareholders and this new share repurchase program underscores our continued commitment to building shareholder value.”
The NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) and SharesPost, Inc. team up to create an exchange for private companies that will provide access to liquidity for their functionaries such as investors, founders and employees. The proposed exchange will combine NASDAQ OMX’s market operating expertise with SharePosts’s web-based platform. “The support of entrepreneurs is a fundamental element of our DNA at NASDAQ OMX,” said Bruce Aust, EVP of NASDAQ OMX. “The NASDAQ Private Market will provide private companies additional flexibility as they plan for their future and, at the same time, bring the investment community unique opportunities. By combining our resources, expertise and reach with SharesPost’s established technology, we will bring scale, efficiency and transparency to this marketplace.”