(123)456 7890 [email protected]

TCS shares downgraded to negative after US regulator approves buyout

TCS shares downgraded to negative after US regulator approves buyout

TCS is downgraded from neutral to negative from AUSTRAC Investors Group after the US Securities and Exchange Commission (SEC) approved a $1.6 billion deal to buy the Canadian-based telecommunications company.

The deal will see the combined company’s shares rise to $12.50, according to the Reuters-IBN company index.

TSC, which had been expected to close at $12, the equivalent of a yield of 6.5 per cent, is now downgraded.

“TSC’s stock price has been adversely affected by the recent SEC decision to approve a $2.1 billion transaction for TCS, which represents the combined Company’s largest acquisition in its history,” TCS said in a statement on Wednesday.

TCS shares fell 3 per cent to $15.10 in early trading in New York on Wednesday, the most recent day that they have fallen since November.

Shares in rival Telus dropped by almost two per cent on the same day.

Telus is in talks with potential buyers and will not take the final decision until mid-October, it said.

In an email to investors, TCS’ chief executive officer Marc Caputo said the company had been in discussions with potential parties and would have more to say at a later date.

Mr Caputo also said the transaction is expected to result in the sale of the company’s existing assets, including its headquarters and office, as well as any assets that may be created as a result of the transaction.

Last month, the company said it would seek approval from the SEC to acquire TCS from the existing owners, the Canadian telecom company BCE Inc. and Bell Canada.

The deal comes as a major boost to Canada’s telecommunications industry, where the country has been struggling to keep up with the growth of U.S. and European rivals.

The US Federal Communications Commission (FCC) has also approved a deal that will see BCE merge with the combined entity, known as Bell Canada, in 2021.

Both TCS and Bell are major players in the Canadian market.

Earlier this year, TCC approved the merger of Bell and Rogers Communications Inc. in a deal worth $7.8 billion.

Canada’s telecommunications sector has been one of the key drivers of the country’s economic recovery and job creation.

Analysts say the Canadian telecommunications sector could have a positive impact on the global economy.

However, the move has also come with concerns about the impact on competition in Canada’s wireless sector.

Canadian telecommunications companies have been under pressure in recent years to lower prices, amid fears of slowing global competition and growing competition from emerging markets.

As part of the deal, TSC will retain ownership of the majority of its stock and will also have full control over the TCS wireless business.