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Communications Services Down As Risk Aversion Offsets Deal Activity -- Communications Services Roundup

11/22/2021 | 05:09pm EST

Communications services companies ticked down as risk aversion offset deal activity.

Shares of Telecom Italia surged after investment firm KKR expressed interest in taking the telecommunications company private through an offer valuing it at roughly $12.17 billion.

Ericsson agreed to buy cloud-communications provider Vonage Holdings, for $6.2 billion, in a deal that the Swedish telecom-equipment maker said will expand its wireless enterprise business and broaden its global offerings.

New York hedge fund Alden Global Capital, which already has extensive newspaper investments, made a proposal to take local newspaper publisher Lee Enterprises private in a deal that values the company at around $141 million, a substantial premium to its market price.

Comcast's NBCUniversal is considering removing much of its content from Hulu and making it exclusive to its Peacock platform, The Wall Street Journal reported.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

11-22-21 1708ET

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