MTN Group on Monday confirmed that a U.S. court had put on hold the $4.2 billion lawsuit against it by Turkish rival Turkcell, pending a separate Supreme Court decision.
The Supreme Court had heard oral arguments in a high profile case against Royal Dutch Shell this month, a case which may determine whether foreign corporations can be sued in U.S. courts under an 18th century law.
Vivendi is exploring a merger between SFR, its French mobile-phone business, and Numericable, a cable operator in the country, reports the Financial Times.
Sources claim the French media conglomerate has been in discussions with Caryle, Cinven and Altice, the private-equity owners of Numericable (Paris, France), about combining the separate operations in a new company, in which Vivendi (Paris, France) would hold a 49% share and Numericable’s owners the controlling stake.
Chinese mobile phone and telecoms equipment maker ZTE Corp (Shenzhen, China) will report a loss of as much as 1.75 billion yuan ($279.2 million) in the first 9 months of 2012, it said in a preliminary results announcement on the Hong Kong Stock Exchange on Sunday.
The Shenzhen-based company has suffered as a slowing economy has hurt sales and margins have come under pressure. ZTE said its loss will be between 1.65 billion yuan and 1.75 billion yuan. That could be a fall of more than 260 percent compared with the same period last year.
NTT DoCoMo (Tokyo, Japan) and MasterCard (Purchase, USA) have teamed up on a service that will let the operator’s customers use their smartphones to pay for goods abroad.
The companies plan to expand DoCoMo’s mobile credit payment system to include MasterCard PayPass merchant locations. As of June, there were an estimated 500,000 such locations in 41 countries.
Collaboration with the payment card companies is necessary if operators are to break into the market for international payments, and the industry is likely to see more deals of this nature in the months ahead.
US operator XO Communications (Herndon, USA) has launched a high-speed network in Canada, looking to capitalize on the growing demand for enterprise telecoms services.
The company says a network is now up and running in Toronto, where it can offer high-speed network services to enterprise and wholesale customers.
Scandinavian operator TeliaSonera (Stockholm, Sweden) has been forced to affirm its support for chief executive Lars Nyberg after press reports suggested the operator had hired a recruitment consultant to find his replacement.
Nyberg has been caught up in a scandal surrounding TeliaSonera’s operation in Uzbekistan, where it stands accused of bribery and money laundering.
Satellite operator Avanti Communications (London, UK) disappointed financial markets with preliminary results for the recent financial year that missed expectations.
Having made a July forecast that revenues would come in at £17.8 million ($28.5 million), the company reported a top-line figure of just £15 million.
Although a substantial improvement on the £6.1 million generated the year before, the results triggered a sharp fall in Avanti’s share price in early morning trading.
One of TIM Brasil’s minority shareholders has filed a lawsuit against Telecom Italia (Rome, Italy), which owns 67% of the Brazilian operator, claiming the Italian company’s mismanagement has resulted in substantial losses for investors.
According to a Reuters report, JVCO Participações blames Telecom Italia for wiping 10 billion reais ($4.9 billion) off the value of TIM Brasil (Rio de Janeiro, Brazil). In a statement, the investment group said that Telecom Italia “has exercised its controlling power abusively, causing losses to TIM and its shareholders”.
Canada indicated strongly on Tuesday it would exclude Chinese telecom equipment giant Huawei Technologies Co Ltd (Shenzhen, China) from helping to build a secure Canadian government communications network because of possible security risks.
Meanwhile, the European Commission has delayed a trade case against Huawei and another Chinese telecom equipment maker, ZTE Corp (Shenzhen, China), easing tensions between the European Union and China, its second-biggest trading partner.
Verizon Wireless (New York, USA) said it is about two months ahead of schedule in its network upgrade as it will have high-speed wireless service in 400 markets by October 18, ahead of its year-end target for this milestone.
Since late 2010, Verizon Wireless, a venture of Verizon Communications and Vodafone Group Plc (Newbury, UK), has been upgrading its network with a high-speed wireless technology known as Long Term Evolution (LTE).