Shares in Samsung Electronics Co Ltd (Seoul, South Korea) rose more than 2% on Monday after Apple Inc's (Cupertino, Calif., U.S.A.) bid to halt U.S. sales of its Galaxy line of products was rejected, easing concern of slowing growth in its telecom business, which generates revenue of $13 billion per quarter.
Sprint Nextel Corp (Overland Park, Kan., U.S.A.), the third largest U.S. mobile provider, agreed to pay up to $1.6 billion to Clearwire Corp (Kirkland, Wash., U.S.A.) in the next four years, including a network pact and a potential equity infusion, easing concerns about a liquidity crisis at Clearwire.
Clearwire, for which some investors had bankruptcy fears, saw its shares rise more than 20% in morning trade after it said on Thursday that it will be able to make a $237 million debt interest payment due December 1.
AT&T Inc (Dallas, Texas, U.S.A.) and T-Mobile USA's parent Deutsche Telekom (Bonn, Germany) have discussed options including forming a joint venture to pool the wireless operators' network assets if AT&T's proposed $39 billion plan to buy T-Mobile USA (Bellevue, Wash., U.S.A.) fails, the Wall Street Journal reported.
Struggling mobile telecom equipment vendor Nokia Siemens Networks (Espoo, Finland) said on Tuesday it had agreed to sell its WiMax business to private-equity backed NewNet Communication Technologies (Shelton, Conn., U.S.A.).
The sale is the first for NSN since it last week announced plans to sell units and axe 17,000 jobs, nearly 25% of its workforce. The price of the deal - which includes the complete WiMAX product portfolio, the related employees and assets, as well as active customer and supplier contracts - was not disclosed.
On Tuesday, the U.S. Federal Communications Commission (FCC) released a 109-page analysis and findings report on AT&T’s (Dallas, Texas, U.S.A.) proposed $39 billion acquisition of T-Mobile USA (Bellevue, Wash., U.S.A.). In the report, the FCC said the acquisition would limit competition and higher prices for customers.
AT&T Inc (Dallas, Texas, U.S.A.) and China Telecom Corp Ltd (Beijing, P.R.C.) have agreed to expand their relationship in China and the United States and will look into supporting each other in other regions. AT&T said on Wednesday that the agreement would expand its services for business customers in China and that the companies would consider jointly developing services, including video conferencing and managed hosting.
They will also look at working together in other regions, according to AT&T, but it did not provide details.
Poland's four cellphone operators, including units of Deutsche Telekom (Bonn, Germany) and France Telecom (Paris, France), have been fined a total of $34 million for anti-competitive conduct in the mobile TV market.
"All members of the cartel were told to stop their practices and received fines," Poland's competition watchdog UOKiK said last week. The regulator accused the four operators of obstructing the development of the nascent mobile television market.
Energy regulator Ofgem (London, England) on Sunday announced that six projects are to share $76 million of funding to help local power networks become smarter. The money comes from Ofgem’s $666 million Low Carbon Networks Fund (LCN Fund).
Last week, the United States Department of Agriculture (USDA) granted $6 million in funding to establish 10 telemedicine and health care projects to six states that have areas that are currently lacking adequate care.
"[This] funding can help improve the health of rural residents who live in the south central portion of the country," says Tom Vilsack, USDA secretary. "These projects can provide care to patients currently receiving no care at all and hopefully reduce the incidence of stroke, mental illness, and other health disorders in rural regions."
On Monday, GE Energy formed an agreement with the city of Leesburg, Florida to undergo a $20 million smart grid project to modernize the city’s electric utility. The project, paid for using $10 million in federal grants from the U.S. Department of Energy, will provide 24,000 customers with smart meters starting in March of next year.
The new system is expected to save Leesburg $15 million in electric operations over the next 20 years, according to the Leesburg City Commission.