Jun 27, 2013

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Rapid Movers: Kimco Realty Corp. (NYSE:KIM) and Verizon Communications Inc. (NYSE:VZ)

Rapid Movers: Kimco Realty Corp. (NYSE:KIM) and Verizon Communications Inc. (NYSE:VZ)

Verizon Communications Inc. (NYSE:VZ) is in meetings to purchase one, and maybe two, underdog Canadian mobile-phone carriers, as it goes for a push north of the border.

Verizon has inked a nondisclosure deal with Mobilicity, a small upstart wireless carrier in Canada, in preparation for meetings over a possible agreement, as per reported by a person closely related with the issue.

This person reported that Verizon executives have informed Mobilicity that any meetings with the firm would be dependent on separate meetings now under way, regarding a possible takeover by Verizon of Wind Mobile, another small carrier in Canada.

Kimco Realty Corp. (NYSE:KIM) has lifted stake in one of its joint ventures (:JV). The plan has assisted the firm to gain ownership interest in 39 shopping centers, occupancy levels at which presently stand at 96%.

This stake takeover is in sync with Kimco’s present focus on enhancing its strategic business line and reshuffling its joint venture investments to get overall competence.

Especially, Kimco lifted its stake to 33%, from 18%, in the Kimco-UBS (“KUBS”) JV. At the same time as Blackstone Real Estate Partners VII purchased the rest of the 67% stake in the JV from UBS Wealth Management North American Property Fund’s affiliates. The agreements were formed on a gross purchase price of $1.1 billion and consisted of debt assumption of $631 million.

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