Danish pension funds win backing from TDC board for major telecoms bid

first_imgThe three Danish pension funds have equal stakes in the consortium, an ATP spokeswoman confirmed.Allan Polack, PFA’s group chief executive, said the TDC acquisition was a long-term investment in the development of essential Danish digital infrastructure, in which the consortium saw great potential.“All sectors of business are undergoing a digital transformation that will only take on speed in the coming years, and digital infrastructure is key in supporting this development,” he said.PFA is in the process of a big strategic push to boost its exposure to alternatives such as infrastructure, private equity and debt.Peter Damgaard Jensen, chief executive of PKA, said: “This consortium is the best future ownership of TDC, and I believe that the expertise within the consortium will develop and strengthen the quality of digital infrastructure across Denmark.”The takeover benefited the Danish people in general, he said, as well as PKA’s members with steady, long-term returns on the investment.Meanwhile, ATP’s chief executive Christian Hyldahl described the deal as “a sound long-term investment benefiting all stakeholders.”Arthur Rakowski, vice chairman of MIRA, said: “We are confident that our expertise, combined with local market insights and support from our partners will allow TDC to play a role in establishing Denmark as a digital leader.” Source: Uffe WengA 4G mast operated by TDCThe consortium said that under its strategy TDC’s entire fixed and mobile networks would become open for use by all telecommunications brands and retailers in Denmark, fostering increased competition that would benefit retail and business customers across Denmark.To do this, the consortium intends to split the company in two, creating a separately-managed business unit for the telecommunications networks, and leaving the existing business to concentrate solely on customer service, product development and content.No redundancies are envisaged, the consortium said.The offer represents an overall equity purchase price of around DKK40.3bn.Under the terms of the offer, TDC shareholders will be offered DKK50.25 per share in cash, subject to certain conditions, representing a 34.1% premium to TDC’s closing share price of DKK37.47 on 7 February, the consortium said.Since news that the consortium was targeting TDC broke last week, the company’s shares have risen to more than DKK49, according to data on the firm’s website.Apart from being conditional on the consortium getting shareholder acceptances representing more than two thirds of TDC share capital and voting rights of TDC, the bid also depends on TDC dismissing its own planned takeover of the broadcasting and entertainment business of Sweden’s Modern Times Group, announced only two weeks ago.Regulatory approval is also needed for the deal to go through. Three of Denmark’s largest pension funds are to take over the country’s former national telecommunications operator after a DKK40.3bn (€5.4bn) offer received backing from TDC’s management board.ATP, PFA and PKA are investing along with Macquarie Infrastructure and Real Assets (MIRA).Just days before, the consortium’s previous offer was rejected by the TDC Group’s board of directors as not being in the best interests of shareholders.Pierre Danon, TDC supervisory board member, said yesterday: “After careful review of our options, the board of directors of TDC believes that the consortium’s offer represents both the most compelling value and the highest transaction certainty benefiting the TDC shareholders.”last_img read more

Alliance Calls for Focus on Arctic Heavy Fuel Oil Ban

first_imgThe Clean Arctic Alliance has called on Member States to remain focused to the goal of developing a ban on the use and carriage of heavy fuel oil by shipping in the Arctic.The alliance released the call ahead of the IMO’s meeting on Pollution Prevention and Response taking place in London, February 18 – 22, 2019.“While IMO delegates gather to discuss ways to mitigate the impacts of heavy fuel oil (HFO) – the dirtiest of ships’ fuels – on Arctic ecosystems, IMO member states must keep their sights firmly on the need for a ban, especially in light of recent revelations from the IPCC on the urgent need to limiting the effects of climate change on the Arctic region,” said Dr Sian Prior, Lead Advisor to the Clean Arctic Alliance.“The Arctic is warming faster than anywhere else on earth – and as sea ice recedes, any increased HFO-fueled shipping in the region will exacerbate the climate crisis, through the deposits of black carbon caused by the burning of HFO, onto sea ice and ice caps. By banning both the use and carriage of HFO as fuel from ships operating in Arctic waters, the risks of a catastrophic oil spill can also be avoided. The Clean Arctic Alliance calls for the work on the development of the Arctic HFO ban to be concluded swiftly, so that it can be adopted in 2021, and phased in by 2023.”At October’s IMO gathering of the Marine Environment Protection Committee (MEPC 73), support for the work – to mitigate the risks of using and carrying HFO in the Arctic, including developing a ban – to commence at the PPR 6 technical meeting, was voiced by Austria, Bangladesh, Canada, Denmark, Finland, France, Germany, Iceland, Ireland, Netherlands, New Zealand, Norway, Spain, Poland, the United States and the UK.last_img read more

Packers injury update: Mike Daniels, Trevor Davis placed on injured reserve

first_imgThe Packers (4-6-1) will host the Cardinals (2-9) on Sunday with kickoff set for 1 p.m. ET. Packers WR Randall Cobb is ready to return to action this week vs. Cardinals Daniels, who has tallied 10 tackles and two sacks this season, suffered a foot injury in Week 11 during the second half of a 27-24 loss to the Seahawks. He initially was expected to miss just a few games, but that timeline has changed. Davis has been dealing with a lingering hamstring injury, which he suffered during training camp. He re-aggravated the injury in Week 1, forcing the Packers to place him on injured reserve. He returned in Week 11 against Seattle, but left Sunday’s game against the Vikings early with hamstring issues. Related Newscenter_img Packers defensive end Mike Daniels and wide receiver Trevor Davis likely won’t return this season as they both have been placed on injured reserve, the team announced Saturday. In a corresponding move, the Packers activated receiver Jake Kumerow and signed fullback Danny Vitale to the active roster from the practice squad. last_img read more

Report: Clippers’ owner in advanced talks to buy The Forum

first_img Game 4 photos: Luka Doncic, Mavs shock Clippers in overtime Clippers’ Paul George: ‘If I make shots, this series could be a little different’ For Lakers’ LeBron James, Jacob Blake’s shooting is bigger issue than a big Game 4 victory MSG also funded Butts’ challenger in the recent mayoral election and has indirectly supported activists who have mounted challenges to the arena project through separate lawsuits that helped delay the California Air Resources Board’s approval of the project under AB 987 before it went to the governor.The environmental impact report indicated the project will result in a “significant” and “unavoidable” increase in traffic, noise and pollutants, but the Clippers — who have shared Staples Center with the Lakers and NHL’s L.A. Kings since 1999 — have pledged to uphold the “most stringent environmental standards in state history for a sports venue” and that they will introduce $100 million in community benefits. According to ESPN, The Forum will keep operating until the Clippers’ arena is built in 2024.MSG filed its latest legal complaint in January against Gov. Gavin Newsom and the state Legislature, alleging the state officials violated California’s constitution by giving special treatment to a proposed arena project with AB 987, a law signed in 2018 that grants protections from lengthy lawsuits to the Clippers project in exchange for meeting certain environmental standards.In an earlier lawsuit filed against Inglewood, MSG alleged Mayor James T. Butts Jr. tricked executives into signing over land for the Clippers’ competing arena by falsely claiming it would be used for a technology park instead. The city denied the claim and that case is ongoing.Related Articles LOS ANGELES — Clippers owner Steve Ballmer reportedly is in advanced negotiations to purchase The Forum in Inglewood from the Madison Square Garden Company, according to ESPN.Such an acquisition would move the Clippers a significant step closer to constructing their own arena in the city.MSG, which also owns the New York Knicks, has been waging a legal battle with  Inglewood and Ballmer, who purchased the Clippers for $2 billion in 2014, for almost two years over the team’s plans to build a new, $1.2 billion arena on 28 acres of land just south of the NFL’s new SoFi Stadium and a mile from The Forum.In a statement Sunday evening, the team said only that “the Clippers continue to pursue plans to build a state-of-the-art, 18,000-seat basketball arena and entertainment complex in Inglewood and are currently working with the city to successfully complete the comprehensive Environmental Impact Report. We are examining every possible way to resolve our differences with Madison Square Garden Co. regarding our new arena.”center_img Clippers hope they can play to their capabilities, quell Mavericks’ momentum What the Clippers are saying the day after Luka Doncic’s game-winner tied series, 2-2 WELCOME BACKTobias Harris said he didn’t hold a grudge coming back to Staples Center for the first time since the Clippers traded him to the Philadelphia 76ers last season. Rather, he said, he had only fond memories of his year with the team.“Just coming over from the trade and being on a team with some great dudes, great guys, kind of shocking a lot of people how we came out in the season,” Harris said before going out and scoring 25 points in the Sixers’ 136-130 loss.“It was a good time,” added Harris, who this summer signed a five-year $180 million contract with Philadelphia. “Obviously, in my career, it’s probably the first time big market team that I’ve played with so that was always a good experience to have.“It definitely helped with people understanding your game and what you bring to the table. Obviously, we were a really good team, but were always kind of overshadowed by the Lakers a little bit. It’s not a bad thing. I think now it’s kind of evenly balanced in LA…“You’re on TV a lot more, people can you see you, noticeability.” Newsroom GuidelinesNews TipsContact UsReport an Errorlast_img read more

N. Zealand coach wants rules review after ‘hollow’ World Cup final

first_imgHe said that was a shame but the New Zealanders had signed up to the rules that governed the tournament.“At the end of the day nothing separated us, no one lost the final, but there was a crowned winner and there it is,” he told Newstalk ZB.The New Zealand captain and his teammates have been widely praised for the grace with which they accepted the gut-wrenching defeat.“Williamson has shown sports fans and elite athletes alike how to behave with humility, how to accept heartbreak,” stuff.co.nz columnist Kevin Norquay wrote.“You don’t need to smash your equipment, yell at the umpire, or swear at and threaten rival batsmen, even with the stress of a World Cup on your mind; this news will be foreign territory to some.”There have been calls in New Zealand to give the team a ticker-tape parade, regardless of the result.Prime Minister Jacinda Ardern said that was unlikely but she wanted to ensure that the players received “a heroes’ welcome” when they returned to the country.New Zealand Cricket said they were in discussions with the government about when that would take place.“At the moment, however, with some players arriving back at different times, some not arriving back at all, and others having alternative playing commitments, it’s just not practical,” they said.“Hopefully, given the interest surrounding this, we can organise something appropriate in the weeks to come.”Share on: WhatsApp New Zealand’s captain Kane Williamson pointed out his team was not defeated on the pitch, saying it instead fell victim to “fine print” in the rules. Here, he reacts as he waits for the trophy presentation after losing the Cricket World Cup final match against England at Lord’s cricket ground in LondonWellington, New Zealand | AFP | New Zealand coach Gary Stead has called for the Cricket World Cup’s rules to be overhauled, labelling the showpiece final “hollow” after England defeated the Black Caps on a technicality.The teams could not be separated at the end of both regular play and a Super Over shootout, so England were handed victory because they had a superior boundary count.“It’s a very, very hollow feeling that you can play 100 overs and score the same amount of runs and still lose the game, but that’s the technicalities of sport,” Stead told reporters in remarks released by New Zealand Cricket on Tuesday.He said such a thrilling match, which has been hailed by many experts as the greatest one-day game in history, deserved a better way to determine the result.“There’s going to be many things they look at over the whole tournament — I’m sure when they were writing the rules they never expected a World Cup final to happen like that,” he said.“I’m sure it’ll be reviewed (and) there’s many different ways that they’ll probably explore.”Stead shrugged off suggestions England had been mistakenly handed an extra run after a throw from a fielder hit the bat of a diving Ben Stokes’ and deflected to the boundary in the final over of regular play.England were awarded six runs but former umpire Simon Taufel said they should only have got five as the batsmen had not crossed for their second run when the throw was made.“I didn’t actually know that,” Stead said. “But at the end of the day the umpires are there to rule.“They’re human as well, like players, and sometimes there’s a mistake but that’s just the human aspect of sport.”– ‘We didn’t lose’ –Skipper Kane Williamson pointed out his team was not defeated on the pitch, saying it instead fell victim to “fine print” in the rules.last_img read more

Jimmy White highlights ‘whirlwind’ charity pool & snooker fundraiser

first_imgVeteran snooker ace Jimmy White was in Pattaya recently where he gave up his time to play against local pool and snooker enthusiasts at different venues, and all for charity. Players paid 1000 baht to take on the ‘Whirlwind’ at four bars across the city for the Father Ray Foundation educational fund. This was hot on the heels of a press conference announcing a high profile snooker event that will take place in August 2015 which will also raise funds for Father Ray.Jimmy has a long affinity with Pattaya and recently purchased a unit at the Palm Condo, so for him Pattaya is like a second home and is a familiar and friendly face around town.Jimmy White plays for the side pocket in one of his many charity games played last week to raise money for the Father Ray Foundation. On Sunday the 7th of September Jimmy first played a number of regulars at the Sportsman Bar where 13,840 baht was raised.The following night Jimmy played at the Kilkenny Bar on LK Metro where a further 20,660 baht went into the pot.On Tuesday he ventured out by Mabprachan Lake to the very popular Brasshouse where things started to get a bit crazy. 68,000 was pledged to play Jimmy, then there was an auction for a signed snooker cue which went for 51,000 baht, which was then doubled by a generous guy making it 102,000 for the cue – so a total of 170,000 baht was raised.Jimmy Deakin from the Brass House and his lovely wife present Jimmy White with flowers as a small token of appreciation.And finally, on Wednesday the 10th Jimmy went to a small bar off of Soi Khao Noi which used to be called the Golden Gate but recently changed hands and has been rebranded as The Dukes Lounge.  26 players took on Jimmy raising 26,000 baht. This was followed by a raffle which made 5,400 baht, which Jamie Saunders from the Dukes Lounge and Jimmy Deakin from the Brasshouse doubled to make it 31,400. An auction followed that raised a further 22,000, and finally, to top it all off, some very generous donations of 42,000 made a total of over 126,000 baht for the night.In an exclusive interview with PMTV Jimmy stated that some of the most competent opponents were Thai women who play a lot of pool and are confident and determined.Jimmy also stated that for him it was a pleasure to be involved in events like this and that he was amazed at the generosity of people.Over the four nights, over 330,000 baht was raised for the Father Ray Foundation, a charity that is well loved here in Pattaya and that takes cares of over 800 children across its various communities. With Jimmy White’s help these children are promised a brighter future.last_img read more

Hit rewind, baby

first_img“I’ve never had a moment like this,” Galarraga said. A tearful Joyce asked for a chance to apologize after his blown call. “You don’t see an umpire after the game come out and say, ‘Hey, let me tell you I’m sorry,’” Galarraga said. “He felt really bad. He didn’t even shower.” Yeah, because the call stunk. It really freakin’ stunk.Well, boys and girls, let’s take a few snowballs to hell and see if they will survive for three minutes or more because more than likely Joyce will blow a few more calls before he retires as an umpire but there is a distinct possibility that Armando Galarraga will never again pitch a perfect game.What is wrong with Bud Selig or should he be called “Bugsy Siegel?” Was there a huge line in Vegas that grew after the seventh inning? Were the big boys with fat cigars in smoke-filled rooms betting against the young Detroit pitcher?The American League implemented the DH or designated hitter rule in 1973 to give the offense more “juice.” Hmm, I was always under the distinct impression that baseball players were supposed to perform on offense and defense. How many hitters over the years have went undetected using “juiced” or “corked” bats? Do the umpires check all the bats used for competition on a daily basis? Selig and his cronies turned the other cheek while they were being smacked around by players using illegal steroids right in their “grill.” But you know what? Is it possible that they could not have cared less as long as the turnstiles clicked and the television and radio ratings soared off the charts? Selig could have made a molehill out of a mountain by “just hitting rewind, baby.”Bud Selig once indicated that he was [possibly agonizing] in regards to attending the game or games leading up to the contest in which San Francisco Giants left fielder Barry Bonds was projected to eventually break the home run record of Hank Aaron. Does this mean that Bud Selig will never again attend a game in which Jim Joyce is part of the officiating crew? Will there be an asterisk next to this game?Some say that instant replay will dilute the purity of the game. Well, now answer this question for me. Which is more important, the purity of the game or the integrity of the game? Where I come from there is no purity without integrity.In 1999 the instant replay challenge system returned to the NFL and in 2010 referees still blatantly blew some calls. Overturning decisions that should have been left standing and allowing calls to remain static that should have been changed but regardless of the flaws of the instant replay system of the NFL, at least they have a system. I am not saying that baseball field managers should have the option of throwing a “red flag” to challenge every bad call that they perceive as incorrect but something must be done to preserve the remaining credibility of the game.Craig Cataterra from NBC Sports’ “Hardball Talk” has this to say. “It is absolutely imperative that baseball implement some form of replay now, this season before the playoffs. The best way, in my view, is to simply station a fifth umpire in the official scorer’s box. Give him the same feed the broadcast guys have. Give him a buzzer and, when an obviously bad call like this one happens have him call down to the crew chief and overturn the call. I’d take it a step further. While the logistics of the in-park review system are designed and implemented, put somebody at headquarters on a monitor for each game. Give those people—I don’t care if they’re summer interns—a hard line to whatever phone in the ballpark connects to someone able to stop play immediately.”The Outlook wasn’t brilliant for the Selig nine that day:The score stood three to nothing with but one more out to go.The ball whistled toward the plate, and there would be no doubt.His eyes became as big as Bambi’s. The Mighty Selig has struck out.(Aubrey Bruce can be reached at: abruce@newpittsburghcourier.com or 412.583.6741.) Detroit Tigers pitcher Armando Galarraga pitched a perfect game with imperfect results. Shortly after the game in which he beat the Cleveland Indians 3-0 on a “1 hitter,” MLB declined to comment on first base umpire Jim Joyce botching the call that took a no-run, no-hit perfect game from Galarraga. Commissioner Bud Selig has apparently decided to do nothing about it. Why? Well, I’m guessing to preserve the psuedo-purity or the economic sanctity of the game.last_img read more

The Jersey Speed Skiffs of the Navesink and Shrewsbury Rivers

first_imgBy Rick Geffken |HIGHLANDS – Ned Lloyd spent a lot of time on Shrewsbury and Navesink rivers while growing up in Rumson. That doesn’t make him a whole lot different from thousands of other kids lucky enough to live in and around the Two River peninsula. What distinguishes this current Connecticut resident is that he’s deepened his love for, and encyclopedic knowledge of, the indigenous small crafts of our local waterways, particularly the revered and inimitable Jersey skiff.Lloyd will be the featured speaker at a meeting of the Navesink Maritime Historical Association (NHMA) scheduled for Wednesday evening, Oct. 17 at Bahrs Landing Restaurant. His discussion and presentation, “The Pound Boats and Beach Fisheries of the Jersey Shore” will start after light refreshments at 7:30 p.m. It’s free and open to the public.Lloyd recently made the trip from his home in the Nutmeg State back to Monmouth County to participate in the annual Thunder on the Shrewsbury at the Long Branch Ice Boat & Yacht Club just a few weeks ago. “It’s a rendezvous and get-together,” said Lloyd, “for owners, aficionados, and racers of a Jersey speed skiff which is a Jersey-born, 16-foot inboard race boat class with a strong local following.”These world-renowned Jersey speed skiffs are nothing like the typical fiberglass speedboats running on the Shrewsbury these days, powered by Yamaha or Honda outboards. “Back in the 1960s, they were 50-60 mph wooden-hulled boats, close to the fastest things in the water,” said Lloyd about the local boats he fell in love with as a kid. He noted that an Oceanport resident, Rob Garretano, recently set the American Power Boat Association (APBA) record in Devils Lake, Oregon when his 16-footer hit 85 mph over a quarter-mile run.“It’s fairly well established that the first Jersey speed skiff, named PJ, was built by Harold ‘Pappy’ Seaman in the Port-au-Peck section of Oceanport in 1922. She was strictly a pleasure boat. Pappy’s family was building boats as early as the 1840s. “With a name like that you just have to build boats,” said Lloyd. When smaller, more high-powered in-board marine engines became available in the early 1920s, Seaman’s skills easily ported to the development of a new kind of small wooden watercraft.The story is that J. P. Bowers of Red Bank asked Pappy Seaman to build a little 16-foot boat for his family. “Seaman came up with an unusual deviation, a flat bottom. Previously, Jersey Shore boats had rolled garboard keel bottoms to let them stand upright on the beach, easier to push into the ocean. Those resulting high stern ends also shielded their propellers from damage,” Lloyd said.At the Long Branch Thunder event, Oceanport’s Charlie Boland consulted with Lloyd on some maintenance and restoration aspects of Charlie’s own Suds, named after a similar sea skiff his father once owned. Jim Janeczko of Belford has also relied on Lloyd’s expertise for years. “I bought back my dad’s old 1965 cigar box (boat) and I’m restoring it now.”Lloyd displayed his voluminous scrapbooks, notes and other historic maritime pictures during his visit to the Long Branch Ice Boat & Yacht Club Sept. 29. More than a few visitors suggested Lloyd should write a book showcasing his vast knowledge of this intriguing local subject. “If I ever find time,” is his stock answer.Lloyd was still in grade school in Rumson when he was first attracted to boats. He remembers going to speed skiff races in Atlantic Highlands as well as to the National Sweepstakes Regatta in Red Bank. Speed skiffs were still racing near Oceanport well into the 1970s and Lloyd’s family would travel by boat to watch the races while they anchored nearby. He smiled as he recalled, “Growing up, if I wasn’t in school, I was either mucking around the saltwater marshes, playing with wooden boats or hanging around boatyards.”“There were times I’d be at the tip of Sandy Hook at five in the morning but make it back to homeroom in time,” he said. His consistent classroom attendance paid off. Lloyd eventually graduated from the University of Rhode Island with a major in fisheries and marine technologies. From there he spent a short time working in a small shipyard and now designs custom electric wiring and cable for a living. He’s also a frequent contributor to a boat lover’s website, thehulltruth.com.A pivotal life experience for Lloyd was the 1977 day he got a ramshackle old skiff, long abandoned in Red Bank. It was originally a product of Bill Tallman’s 1930’s-era “Row No More Boats” yard in Fair Haven. Lloyd spent a year and a half restoring Bits ‘N’ Pieces, so called after the driftwood and other jetsam he scavenged. Forty years on, he’s restoring her once again, hoping to have her back in the water next year.NHMA president Rik van Hemmen said, “Ned Lloyd has one of the best collections of information, memorabilia and pictures of the Jersey Sea Skiff and the local builders.”To learn more about Ned Lloyd’s local appearances or the NHMA, visit navesinkmaritime.org/events.This article was first published in the Oct. 11 – Oct. 17, 2018 print edition of The Two River Times.last_img read more