Voda-Idea, Walmart-Flipkart: The biggest M&As of the decade
From e-commerce to fashion and entertainment, here's looking at the deals that changed the face of business in this decade.
By ET Online | Updated:
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From tech giants swallowing young competition to fashion houses crumbling only to be bought out by those who managed to weather the economic slowdown, the 2010s have been a period of big buyouts.
Talks of billions, hushed deals, closed-door meetings are just some of the similarities between the biggest mergers and acquisitions that went down in the last decade.
From tech giants swallowing young competition to fashion houses crumbling only to be bought out by those who managed to weather the economic slowdown, the 2010s have been a period of big buyouts.
As we sail into a new decade, here’s a look at some of the biggest business deals of the one gone by.
What An Idea, Vodafone!
Kumar Mangalam Birla, Chairman, Aditya Birla Group and Idea Cellular Limited, and Vittorio Colao, CEO, Vodafone Group Plc at the Idea Vodafone merger PC in Mumbai. The telecom space saw some old connections being disconnected and new ones forged. After will-they-won’t-they, the year finally saw Vodafone and Idea Cellular merge. It was the result of many rounds of talks and some practical concerns as well: the two companies decided to merge after a huge tariff war that was precipitated by the entry of Jio from the Reliance stable. And while the jury is still out on whether the merger has been able “to improve the network and offer customers a better experience” as promised, it has helped Vodafone-Idea beat Reliance Jio and Airtel to become India’s largest telecom company with 408 million active subscribers and revenue market share of 32.2 per cent. Some More Mergers The Vodafone-Idea merger was not the only one that became a single entity. In October, the Government announced the merger of the two PSUs as a way of reviving them. The government decided to pump in Rs 29,937 cr for their revival while their assets, worth Rs 38,000 cr, would be monetised. As a part of the merger, the government also announced a Voluntary Retirement Scheme plan for employees of both entities which 92,700 of its employees opted for.
We Are Family
In January this year, Facebook announced plans to integrate WhatsApp, Instagram and Messenger in order to create "the best messaging experiences" for the billions of users who use the Facebook-owned apps. In 2012, Facebook acquired photo-sharing platform Instagram for approximately $1bn. Two years later, it picked up messaging app WhatsApp for an estimated $19.3bn. Even as the original founders of both apps didn’t stick around for long in the Facebook fold, Instagram has grown to 1 billion monthly active users while WhatsApp has close to 1.5 billion users.
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And keeping the family spirit alive, earlier in January, Facebook announced plans to integrate WhatsApp, Instagram and Messenger in order to create "the best messaging experiences" for the billions of users who use the Facebook-owned apps.
And while the apps will remain distinct, the messaging infrastructure would be unified. Privacy experts, though, around the world didn’t seem too enthused by the ‘we are family’ call led by Mark Zuckerberg.
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Walmart’s $16 billion deal to buy a 77% stake in domestic online retailer Flipkart was not just the largest ever e-commerce deal, it was also symptomatic of the churn taking place in the retail industry. In what became the biggest e-commerce deal not just of the decade, but ever, American multinational retail corporation Walmart acquired Bengaluru-based Flipkart in a massive $16 billion agreement, in August last year.
The deal was met with protests and fears from small local traders that it would drive them out of business, however that didn’t deter the two giants with Walmart eventually getting an initial stake of 77 per cent, valuing the e-tailer close to $20 billion.
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The deal also marked the end of an era in the Indian startup space. Poster boy of the Indian startup scene, Sachin Bansal left the company he co-founded, selling his 5.5-6% stake for roughly $1 billion. While Binny Bansal stayed on, he sold a small portion of his minority holding while keeping a 3.85% stake. Though in another deal this year, Binny sold some more shares, bringing his stake to 3.52%.
French Breakfasts At Tiffany’s It was a sparkling $16.2 billion deal that came after months of intense negotiations which led LVMH to acquire iconic American jewellery brand, Tiffany. In addition to putting rumours about the brand with the birds-egg blue box to rest, the deal became one of the largest acquisitions in the luxury retail segment.
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The incredible sale is now also the biggest deal of LVMH's 70-year-old CEO Bernard Arnault's career.
This was the second time the French luxury group - that owns 75 luxury brands including Dior, Fendi, Hublot, TAG Heuer, Zenith and Louis Vuitton - courted a jewellery brand in the decade, having acquired a majority stake in Italian luxury house Bulgari in 2011, in a $5.2 billion deal.
Tiffany’s Blue Now Belongs To LVMH; Ambani, PeeCee, Gaga's Connections To The Iconic Brand
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French luxury giant LVMH, on Monday, acquired iconic American jeweller Tiffany for $16.2 billion. The acquisition, which took just over a month and three revised bids to get done, is the biggest-ever deal for the French group owned by Bernard Arnault.
According to a report in news agency Reuters, Tiffany was codenamed "Tea" and LVMH was "Latte" during the talks that led to the takeover.
Reuters also reported that LVMH's 70-year-old billionaire boss was himself 'focused on ensuring he was getting control of Tiffany's most valuable assets: all the patented elements that came with the Tiffany brand, notably its robin's egg blue boxes'.
The third-richest man in the world, Arnault, emphasised on the importance of the blue in an interview with the news agency, saying, "We're the owner of a colour. It's a pretty rare thing."
LVMH had forayed into high-end jewellery in 2011, when it acquired Italian jeweller Bulgari.
French luxury giant LVMH, on Monday, acquired iconic American jeweller Tiffany for $16.2 billion. The acquisition, which took just over a month and three revised bids to get done, is the biggest-ever..
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Earlier this year, the iconic jeweller was making national headlines due to reports of it coming to India in partnership with India's richest man, Mukesh Ambani.
According to news reports, Ambani-led Reliance Brands has plans to bring the iconic blue box to Delhi and Mumbai by mid-2020.
'Quantico' star Priyanka Chopra also has a personal connect with the brand. Not only did the star host her bridal shower at the the Blue Box cafe, situated inside the brand's flagship store, but her singer-hubby Nick Jonas also shut down the Fifth Avenue outpost to pick the perfect 4-carat ring for her.
Earlier this year, the iconic jeweller was making national headlines due to reports of it coming to India in partnership with India's richest man, Mukesh Ambani.
According to news reports, Amban..
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Tiffany's storied history dates back to 1837, when the first store opened on Broadway in New York. Founded by Charles Lewis Tiffany, the iconic brand initially sold stationary, handkerchiefs and other finery.
On opening, it became the first company to clearly mark prices on its products, leaving no option of bargaining. It also started a new norm by only accepting payments in cash.
Over the next decade, the company shifted to jewellery. In 1848, it started acquiring exotic European collections and crown jewels, including diamonds worn by Marie-Antoinette.
Almost unstoppable, two years later, Tiffany had opened a store at rue de Richelieu in Paris. This expansion continued, with a London store in 1868, and eventually a watch factory in Geneva, a few years later.
The legendary brand saw a new direction with Charles's painter-son, Louis Comfort Tiffany, becoming the company's first official design officer. At the end of the 19th century, stained glassworks and lamps by Tiffany Jr. became synonymous with the 'Gilded Age' in America, with some of them even being installed at the White House. They were later removed early in the 20th century.
(Image: AP)
Tiffany's storied history dates back to 1837, when the first store opened on Broadway in New York. Founded by Charles Lewis Tiffany, the iconic brand initially sold stationary, handkerchiefs and othe..
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The rise of Tiffany parallels that of New York. The American jeweller set up its flagship store on Fifth Avenue in 1940, creating a landmark that attracts tourists even today. This store now accounts for almost 10 per cent of the brand's overall sales.
Over time, the aspirational value of the brand increased with the emergence of America’s high society as its customers. From the Kennedys and Richard Nixon to Elizabeth Taylor and Richard Burton, the brand became synonymous with classy indulgence.
In 1862, President Abraham Lincoln purchased a Tiffany seed pearl necklace and earrings for his wife for the inaugural ball.
(Image: AFP)
The rise of Tiffany parallels that of New York. The American jeweller set up its flagship store on Fifth Avenue in 1940, creating a landmark that attracts tourists even today. This store now accounts..
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The brand's flagship store also houses the famous Tiffany yellow diamond, that Charles bought in 1878 for $18,000. The 287.42-carat diamond, said to be one of the world’s finest gemstones, was cut into a cushion-shape of 128.54 carats, and named the 'Tiffany Diamond'.
Over 300 guests throng the store each day for a glimpse of the diamond.
The rare stone has only ever been worn three times in history. The most-recent being Lady Gaga, who arrived at the Oscars this year with the diamond around her neck.
The gem was worn for the first time at the 1957 Tiffany Ball in Newport, Rhode Island by Mary Whitehouse. Following her, Audrey Hepburn became the second person to be granted permission to wear the diamond, for promotion of 'Breakfast at Tiffany's'. The actress wore the stone in a Jean Schlumberger necklace.
(Image: Reuters)
The brand's flagship store also houses the famous Tiffany yellow diamond, that Charles bought in 1878 for $18,000. The 287.42-carat diamond, said to be one of the world’s finest gemstones, was cut in..
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In 1961, Tiffany & co made its cinematic debut with another icoc, Audrey Hepburn. 'Breakfast at Tiffany’s', the first movie ever filmed at Tiffany’s flagship store, continues to be a classic till date.
The store went on to feature in other films including 'Sleepless in Seattle' and 'Sweet Home Alabama'.
In 1961, Tiffany & co made its cinematic debut with another icoc, Audrey Hepburn. 'Breakfast at Tiffany’s', the first movie ever filmed at Tiffany’s flagship store, continues to be a classic till dat..
A New Script For Hollywood Disney created history in March this year when it closed a mammoth $71.3 billion to purchase Fox.
With the closure of one of the biggest media mergers ever, Disney now owns all the film and TV properties of Fox - which basically means everything made by 20th Century Fox.
The deal didn't just change their fortunes but also reshaped Hollywood's landscape, with Disney and Fox together commanding 35 per cent of the movie market.
The acquisition also brought to Disney, Fox's 30 per cent shares in streaming platform Hulu. This move made Disney the majority owner in Hulu, as it already owned 30% stakes of the streaming platform prior to the merger with Fox.
From ‘War’ To ‘Kabir Singh’, Here Are The Films That Set The Box Office On Fire In 2019
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If you’re a Bollywood fanatic or have been following the news trickling in from tinsel town, you probably know that 2019 saw some big releases. While some lived up to the hype and expectations, others fell short miserably, and were dubbed as box-office misadventures.
As they say, ‘numbers never lie’ and are often used as an accurate measure of how a film performed worldwide. To know which movie(s) ruled the box office this year, we have compiled a list of the highest-grossing Bollywood films of 2019.
Read on, and take a look back at 2019, the year that saw some of the biggest box-office releases.
If you’re a Bollywood fanatic or have been following the news trickling in from tinsel town, you probably know that 2019 saw some big releases. While some lived up to the hype and expectations, oth..
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The Tiger Shroff and Hrithik Roshan-starrer ‘War’, hit the silver screens on 2nd October and instantly became a hit among the audience. ‘War’ opened with a collection of Rs. 53.35 crore on its first day, which is the highest opening-day collection.
The film entered the coveted Rs 100-crore club within 3 days of its release and broke several records. What’s more? The action-thriller became the fastest Bollywood flick of 2019 to cross the Rs 200 crore mark. Currently, ‘War’ is the highest-grossing Bollywood film of the year, with a gross collection of Rs. 292.71 crore.
The Tiger Shroff and Hrithik Roshan-starrer ‘War’, hit the silver screens on 2nd October and instantly became a hit among the audience. ‘War’ opened with a collection of Rs. 53.35 crore on its firs..
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Easily one of the most controversial films of 2019, ‘Kabir Singh’ hit the theatres earlier this year. While the movie was a hit among the audience, it was unanimously slammed by critics for its portrayal of the protagonist Kabir Singh (Shahid Kapoor). Some even called the film a ‘justification of hyper toxic masculinity’ that came close on the heels of the #MeToo movement. The movie left the audience divided and evoked polarised reactions.
However, the controversy did little to deter the movie from becoming the second highest-grossing film of Bollywood in 2019. According to the latest box office reports, the film has amassed a collection of Rs. 276.34 crores, and is still going strong.
Easily one of the most controversial films of 2019, ‘Kabir Singh’ hit the theatres earlier this year. While the movie was a hit among the audience, it was unanimously slammed by critics for its por..
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‘How’s the Josh?’, ‘High Sir!’ from the Vicky Kaushal-starrer ‘Uri: The Surgical Strike’ became the favourite dialogue of India in 2019 with even Prime Minister Narendra Modi using it in his election campaign. The film is a dramatised account of the 2016 Uri attack and India’s subsequent retaliation with a surgical strike. The film that whipped up nationalistic passion and frenzy hit the theatres on 11 January 2019, approximately a month before the Pulwama incident which escalated the tensions between India and Pakistan.
The film was appreciated by critics and audience alike and has earned Rs. 244 crore at the box office.
‘How’s the Josh?’, ‘High Sir!’ from the Vicky Kaushal-starrer ‘Uri: The Surgical Strike’ became the favourite dialogue of India in 2019 with even Prime Minister Narendra Modi using it in his electi..
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Akshay Kumar-starrer ‘Housefull 4’ is the fourth installment in the comedy film franchise ‘Housefull’. The movie generated a lot of buzz online and on social media, thanks to the viral #BalaChallenge, which saw the who’s who of Bollywood dance to the tune of the catchy song ‘Shaitaan ka Saala’.
Celebrities from Varun Dhawan and Ranveer Singh to Kareena Kapoor and Arjun Kapoor, tried their hand at the signature move of the song and shared the chuckle-worthy videos online. The challenge set social media ablaze and ended up grabbing a lot of eyeballs. Housefull 4 clocked in Rs 205.22 crore at the box office and entered the prestigious Rs 200-crore club.
Akshay Kumar-starrer ‘Housefull 4’ is the fourth installment in the comedy film franchise ‘Housefull’. The movie generated a lot of buzz online and on social media, thanks to the viral #BalaChallen..
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The Katrina Kaif-Salman Khan starrer ‘Bharat’ hit the theatres on 5 June. As they say, no Eid is complete without a Salman Khan release and the actor lived up to his promise of delivering a blockbuster film on the festival. Based on the 2014 South Korean film ‘Ode to my Father’, ‘Bharat’ explored the turbulent times of the India-Pakistan Partition.
While the film received mixed reviews from critics, it performed beyond expectations at the box office, clocking Rs 197.34 crore, missing the Rs. 200 crore club by a whisker.
The Katrina Kaif-Salman Khan starrer ‘Bharat’ hit the theatres on 5 June. As they say, no Eid is complete without a Salman Khan release and the actor lived up to his promise of delivering a blockbu..
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‘Mission Mangal’ is one film which didn’t fight shy of portraying women in lead roles. It packed a stellar female cast with Vidya Balan, Sonakshi Sinha, Taapsee Pannu and gave them the roles of women who are full of imperfections but still try their best to make ends meet.
The film was appreciated by most of the critics precisely for this reason and opened to positive reviews. It starred Akshay Kumar in titular role, with the actor making his second appearance on the list. And it amassed Rs 192.67 crore at the box-office, setting the cash registers ringing.
‘Mission Mangal’ is one film which didn’t fight shy of portraying women in lead roles. It packed a stellar female cast with Vidya Balan, Sonakshi Sinha, Taapsee Pannu and gave them the roles of wom..
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The Hindi language action-war film saw Akshay Kumar in the lead, playing Havaldar Ishar Singh, a part of the Sikh Regiment of the British Indian Army. The film received critical acclaim upon its release, getting great reviews from the critics. Akshay's Midas touch continued as ‘Kesari’ did over Rs 151.87 crore at the collections.
The Hindi language action-war film saw Akshay Kumar in the lead, playing Havaldar Ishar Singh, a part of the Sikh Regiment of the British Indian Army. The film received critical acclaim upon its re..
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A reboot of the 2007 film Dhamaal, ‘Total Dhamaal’ hit the silver screen on 22nd February The film had a large ensemble cast including Ajay Devgn, Anil Kapoor, Madhuri Dixit, Riteish Deshmukh, Arshad Warsi, Javed Jaffrey, and Esha Gupta.
Upon release, the flick was slammed by critics and generally received negative reviews. Despite that, ‘Total Dhamaal’ performed well, going on to make Rs. 150.07 crore.
A reboot of the 2007 film Dhamaal, ‘Total Dhamaal’ hit the silver screen on 22nd February The film had a large ensemble cast including Ajay Devgn, Anil Kapoor, Madhuri Dixit, Riteish Deshmukh, Arsh..
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‘Saaho’ marked ‘Baahubali’ star Prabhas’s debut in Hindi films. Produced on a budget of Rs 350 crore, it made its entry into the list of the ‘Most Expensive Bollywood Films’ ever made. Needless to say, expectations were running high but the movie failed to live up to the hype.
‘Saaho’ was panned by critics on release but somehow managed to earn its spot on the highest grossers list, gathering Rs 148.84 crore.
‘Saaho’ marked ‘Baahubali’ star Prabhas’s debut in Hindi films. Produced on a budget of Rs 350 crore, it made its entry into the list of the ‘Most Expensive Bollywood Films’ ever made. Needless to ..
