Egypt-based Orascom Telecom Holding is planning to exploit a change in legislation that will allow it to take full control of Wind Mobile, its Canadian mobile-phone subsidiary.
The company has asked shareholders to approve a proposal that would let it convert non-voting shares in Globalive (Toronto, Canada), the holding company that owns Wind, into voting shares.
AT&T said on Friday it will contribute a stake in its wireless business to the company's pension plan worth $9.5 billion in an effort to secure the fund, according to a U.S. Securities and Exchange Commission filing.
AT&T (Dallas, USA) filed for approval for the proposal with the U.S. Department of Labor on Thursday. It said the move would not significantly affect company earnings.
AT&T's pension plan was underfunded by about $10.2 billion at the end of 2011, a company spokeswoman said.
Norway’s Telenor will participate in India’s auction of 2G spectrum next month, joining Bharti Airtel, Vodafone, Idea Cellular and Tata Teleservices in the process.
Telenor (Fornebu, Norway) has been operating in India through its Uninor joint venture with Unitech, an Indian real-estate business, but its spectrum licenses were cancelled earlier this year after an Indian court found there had been irregularities during their award in 2008.
Telecoms equipment maker Alcatel-Lucent plans to axe 5,490 jobs worldwide as part of a cost-saving program unveiled in July, with more than a quarter of the cuts coming in France.
Union representatives in France on Thursday pledged to fight the 1,430 job cuts in France and called on the government to intervene, creating another headache for the new Socialist government as it tries to tackle unemployment which is at a 13-year high.
"We are in shock," Isabelle Guillemot, of the CFDT union, said, calling on workers to hold protests on Friday.
U.S. telecommunications group Verizon Communications Inc posted a 16 percent increase in quarterly profit, helped by higher revenue in its wireless business after it raised data prices and started selling the latest Apple iPhone.
Verizon (New York, USA) said on Thursday it was on track to meet 2012 financial goals, with capital spending for the year expected to be lower than the $16.2 billion total in 2011.
Telefonica hopes to raise around 1.5 billion euros ($2 billion) by selling part of its O2-branded German subsidiary on the stock market.
Europe's largest telecoms company by revenue has said it could also sell businesses in Latin America as it tries to cut its 58 billion euro debt pile and hang on to its prized investment-grade rating, under pressure from the euro crisis in its Spanish home market.
China's Huawei Technologies Co Ltd said on Wednesday a U.S. congressional committee probe into whether its access to communications infrastructure poses a security risk is unlikely to affect its businesses in other overseas markets.
The House of Representatives' Intelligence Committee issued a report earlier this month urging U.S. companies to stop doing business with Huawei (Shenzhen, China) and ZTE Corp (Shenzhen, China), the world's No.2 and No.5 telecommunications equipment vendors respectively, over security concerns.
Thailand's top three telecoms companies bid 41.63 billion baht ($1.36 billion) on Tuesday to obtain spectrum for new 3G services as part of the country's plans to expedite the introduction of long-delayed high-speed third-generation mobile services.
The new 3G spectrum will enable companies to tap more revenue from fast-growing data services and reduce regulatory costs under a new licensing regime.
China's No.2 telecommunications equipment maker ZTE Corp, under fire in the United States over cyber security concerns, has sold a subsidiary which sells surveillance systems.
The decision to dispose of ZTE Special Equipment Co, also known as ZTEsec, was made on September 21, during a U.S. Congressional committee investigation into ZTE (Shenzhen, China) and its local rival Huawei Technologies Co Ltd (Shenzhen, China).
The FTTH Council Europe has risked embarrassing the UK government by drawing attention to the country’s lack of superfast broadband investment and adoption despite authorities’ bold plans to have “the best superfast broadband network in Europe by 2015”.
In its latest set of FTTH rankings, showing which countries in Europe have the most superfast broadband subscribers, the lobby group singles out the UK as “conspicuously absent”.