Middle East telecommunications firms are discussing the idea of creating a pan-Arab online platform that would earn them more revenue from their networks by challenging Facebook (Menlo Park, USA) and other Internet behemoths of the West.
The ambitious project faces technical and financial obstacles and may never be implemented on a large scale.
IMM Hydraulics, a small exporter of hoses for industries such as agriculture and mining, is the kind of firm that should be at the center of Italy's efforts to rekindle its stagnant economy.
Instead, the company, located in the Abruzzo region of central Italy, is wrestling with a basic impediment to profitability: a woefully slow broadband connection. With just 2 megabits (MB) per second, IMM Hydraulics' broadband connection lags behind the 5 MB typical in Italian cities, which in turn is well behind an average of 12 MB in France and 16 MB in Germany.
Reliance Industries (Mumbai, India) is likely to participate in the forthcoming auction of frequencies that were previously awarded in 2008 but seized by authorities earlier this year, according to a story in India’s Economic Times newspaper.
The company already owns spectrum through its Infotel Broadband subsidiary, but it is not allowed to provide voice services over those frequencies.
A board member of the Australian arm of China's Huawei Technologies Co Ltd (Shenzhen, China), which was banned from tendering for work on Australia's $38 billion broadband network, says it should consider a local float to ease security concerns, the Australian Financial Review reported on Wednesday.
The paper quoted board member John Brumby, a former premier of Victoria state, as saying he was urging Huawei to consider building an Australian research and technology centre and an eventual local stock exchange listing.
Telekom Austria (Vienna, Austria) has slashed its dividends by 87% in the same week that Mexican billionaire Carlos Slim secured a 23% share in the incumbent operator.
In a statement released this week, the company said it would cut its dividend from €0.38 to €0.05 per share this year and maintain that figure throughout 2013.
Teliasonera (Stockholm, Sweden) will kick off the sale process for its Spanish mobile operator, Yoigo, in the next two weeks in a deal that is expected to attract bids from France Telecom (Paris, France) and Vodafone (Newbury, UK), three people familiar with the matter said.
Information documents are set to go out soon to bidders, the people told Reuters, after being delayed over the summer by holidays and the departure of Yoigo's chief executive.
Singapore state investor Temasek Holdings (Singapore) will sell as many as 500 million shares in Singapore Telecommunications Ltd (Singapore) to raise up to $1.34 billion, according to a term sheet seen by IFR late on Tuesday.
The transaction comprises a base size of 400 million SingTel shares at S$3.20 and S$3.25, which works out to around S$1.3 billion ($1.06 billion). It includes an upsize option for another 100 million shares that if exercised will raise the deal size to $1.34 billion.
A Temasek spokesman confirmed the sale.
Cisco’s chief executive John Chambers has named a number of potential successors, according to Bloomberg, prompting speculation about his retirement from the role.
According to Chambers, the candidates for the top job at the maker of internet switches and routers include Gary Moore, the chief operating officer, Robert Lloyd, executive vice president of worldwide operations, Chuck Robbins, senior vice president of the Americas, and Edzard Overbeek, senior vice president of global services.
The introduction of smart meters to the UK could lead to savings of £65 a year for the average household, according to a new report from British Gas (Staines, UK) and Oxford Economics.
According to the study, the rollout of smart meters across the UK will lead to savings of approximately £14 billion ($22.7 billion) between 2012 and 2030, equating to an average saving per household of about £65 a year.
M2M could fail to live up to its billing as the next big thing unless someone takes initiative and stops the fragmentation that currently afflicts the industry.
That seemed to be the message coming out of M2M: Beyond Connectivity, a seminar organized by European Communications magazine in London last week, where analyst speakers presented a rather pessimistic assessment of the state of the market.