US cable company Time Warner Cable has agreed a $600 million takeover of DukeNet Communications, which operates a fiber-optic network across various Southeastern states.
DukeNet (Charlotte, NC, USA) is currently 50% owned by Duke Energy (Charlotte, NC, USA), the country’s largest electric power holding company, with the other 50% held by investment firm Alinda Capital (Greenwich, CT, USA).
The companies expect the transaction to close in the first quarter of 2014, subject to normal regulatory approvals.
Telecom Italia's new chief executive Marco Patuano will unveil a business plan outlining the future of its South American units and a possible corporate restructuring in Italy at a board meeting on November 7, trade union officials said.
Patuano told a meeting with unions on Friday the heavily indebted former phone monopoly had put on hold a plan to spin off its fixed-line network because the right regulatory conditions were not in place, they said in a joint statement.
South Korea has topped a ranking of ICT development for the third year in a row, with Sweden and Iceland coming second and third respectively.
The ICT development index prepared by the International Telecommunications Union ranks a total of 157 countries on the basis of ICT usage, access and skills.
Frequently cited as one of the world’s most connected countries, South Korea leads the rankings, with a number of countries in Scandinavia and northern Europe also performing strongly.
Telecom New Zealand has announced plans to launch LTE services at no extra charge to customers, putting pressure on rival Vodafone in the country’s nascent 4G market.
The operator said its service will go live in the cities of Auckland, Christchurch and Wellington on November 12, allowing prepaid and contract customers to take advantage of the higher-speed network technology on existing tariffs.
Private lender Bank Rossiya has reportedly filed applications to buy a 50% stake in mobile operator Tele2 Russia.
According to Russia’s Interfax news agency, the applications were made through Invinte and ABR Investments, two offshore companies.
Tele2 Russia (Moscow, Russia) is currently owned by VTB Bank (St Petersburg, Russia), Russia’s second-biggest lender, which bought the operator from its Swedish parent company for $3.55 billion in April this year.
Shares of BlackBerry Ltd rose more than 4 percent in trading before the bell on Monday, following news of interest from strategic buyers in the embattled smartphone company and an analyst upgrade on the company's stock.
Shares in the company rose above the $8 mark after a Reuters report on Friday that the Waterloo, Ontario-based company is in talks with Cisco Systems (San Jose, CA, USA), Google Inc (Mountain View, CA, USA) and SAP (Walldorf, Germany) about selling them all or parts of itself.
UK rail authorities plan to roll out high-speed broadband services on the busiest parts of the country’s rail network, according to a government statement published this week.
The scheme is set to benefit 70% of the travelling public by 2019, although passengers will start to notice improvements from 2015, according to the Department for Transport’s release.
Authorities aim to boost mobile signals on trains by upgrading existing infrastructure and installing new on-board equipment.
Portugal Telecom has announced plans to merge with Brazilian affiliate Oi in a move set to create a global operator serving more than 100 million customers across Europe and Latin America.
The Portuguese incumbent says the deal is a natural development of the alliance the two companies struck in 2010, and will see Zeinal Bava – who led Portugal Telecom (Lisbon, Portugal) until earlier this year before taking up the leadership role at Oi (Rio de Janeiro, Brazil) – appointed chief executive of the combined entity.
Pakistani incumbent PTCL is reported to have launched a takeover bid for local mobile rival Warid, holding out the possibility of much-needed consolidation in the country’s beleaguered telecoms industry.
Backed by Middle Eastern telecoms giant Etisalat (Abu Dhabi, United Arab Emirates), PTCL (Islamabad, Pakistan) is said to have given notice of the bid through a filing to the Karachi stock exchange, according to Reuters, but details of the offer price or PTCL’s plans for the company were not disclosed.
US operator AT&T is responding to Google’s entry into the high-speed broadband market by promising to launch its own ultra-fast offer in Austin, Texas – where the internet giant plans to switch on a 1Gbps service in mid-2014.
The operator this week said it had begun work on the deployment of a network in Austin that would match Google’s (Mountain View, CA, USA) on connection speeds when finally developed.