Long-troubled telecom equipment maker Alcatel-Lucent sparked investor hopes it had turned a corner when it kept an ambitious free cash flow target and reassured on its 2011 profitability.
Shares in the Franco-American group shot up more than 13 percent to their highest level since October 2009, making it the French CAC 40 index's biggest gainer on Thursday.
Chief Executive Ben Verwaayen, a Dutchman who formerly led BT Group before taking over Alcatel-Lucent in September 2008, said the results showed that the group was on track to complete his promised three-year turnaround.
KT Corp, South Korea's No.2 mobile carrier, said on Thursday that it plans to become the top shareholder of credit card processing firm BC Card, betting on mobile payment services to generate new revenue.
KT (Seoul) said in a statement that its board had approved its planned purchase of a combined 33.85 percent stake in BC Card from Woori Bank and Shinhan Card.
The Indian Central Bureau of Investigation (CBI) has arrested former Telecoms Minister Andimuthu Raja over a massive graft scam, officials said, a huge blow for Prime Minister Manmohan Singh and efforts to pass bills in the parliamentary budget session. Raja belongs to a parliamentary ally of the ruling Congress party and his arrest may spark tension between coalition partners and galvanise an opposition that has blocked parliament since November to protest the scandal over mobile phone licences.
Dish Network Corp. (Meridian, CO, USA) will purchase DBSD North America for approximately $1 billion. DBSD is a combination satellite and land-based communication company.
DBSD is currently is chapter 11 bankruptcy and, as a condition of the purchase, Dish has agreed to an $87.5 million debtor credit. The deal will include interest that is accruing on DBSD’s existing debt. The transaction will be finalized after regulatory approval and DBSD’s emergence from bankruptcy.
Dish is a satellite TV company that provides service to over 14 million U.S. subscribers.
Vodafone (London) has named outgoing Philips Chief Executive Gerard Kleisterlee as its new chairman. Kleisterlee, who has spent his entire career at Philips, will take over from John Bond at Vodafone's annual general meeting later this year, 12 months after Bond endured a small rebellion over his role in the firm's strategy.
Tekelec (Morrisville, NC, USA) is converging its suite of network intelligence and policy control solutions into a system known as RAN-aware policy management. The solution draws intelligence and technology from existing Tekelec offerings such as its proprietary Performance Intelligence Center (Version 7.0 launched in November 2010), the SDM suite (acquired from Blueslice Networks in May 2010) and the Camiant Policy Management PCRF (acquired in May 2010).
Verizon Wireless (Basking Ridge, NJ, USA) has released a PDF containing information about a new network management and throttling system. Two new techniques will be implemented which include network optimization and transcoding technology designed to transmit data files more efficiently, reducing network load. Verizon will also cache less data, using less capacity, and size videos for the appropriate device.
Mobidia Technology, Inc. (Richmond, British Columbia, Canada), a provider of mobile data solutions for increasing efficiency and manageability of wireless data networks, has announced the release of a client-based, subscriber-centric policy control solution that allows subscribers to monitor, control, and buy mobile data.
Tone Software Corporation (Anaheim, CA, USA), a provider of network monitoring and management solutions has released its "ReliaTel" VoIP quality of service (QoS) and Converged Infrastructure Management software. This product adds to the ReliaTel core competency of managing voice quality, network service levels and the physical voice and data infrastructure.
Exinda (Andover, MA, USA), a provider of WAN optimization solutions, has signed a distribution agreement with VADition, a U.K.-based distributor of technology solutions for enterprises. The agreement expands Exinda's sales capabilities in the U.K. and enables Exinda's partners to expand their customer base.