Telecom M&A Deals Hit $88.3B in H1
The London-based finance industry analytics house noted in a recent report of global announced M&A activity that the value of telecom deals rebounded in the second quarter of 2009 to reach $70.1 billion, up from a record low $18.2 billion during the first three months of this year.
The second quarter's total was filled out by two major deals: the on-again $22.7 billion deal between India's Bharti Airtel Ltd. (Mumbai: BHARTIARTL) and South Africa's MTN Group Ltd. ; and the $14.7 billion merger of DirecTV Group Inc. (NYSE: DTV) with Liberty Media Corp. (NYSE: LMC)'s Entertainment subsidiary. (See Bharti, MTN in $23 Billion Talks and DirecTV to Spin Off, Gain Weight .)
According to Dealogic's research, there were 577 announced deals in the telecoms sector in the first half of this year, down from the 734 deals (valued in total at $186.1 billion) during the same period a year earlier.
Across all industrial sectors, Dealogic reported 16,080 announced deals (down 24 percent) during the first half of 2009 with a total value of $1.14 trillion, down 35 percent.
— Ray Le Maistre, International News Editor, Light Reading