Investment company Crest Financial has once again lashed out at Sprint’s proposed takeover of Clearwire, urging Clearwire’s management to shun the “coercive” terms.
Crest (Cerritos, CA, USA) owns a 5.1% stake in Clearwire (Bellevue, WA, USA) and claims to be the largest shareholder that is unaligned with Sprint.
The company is vehemently opposed to the deal, which would see Sprint (Overland Park, KS, USA) acquire full control of Clearwire, and last month hired proxy-solicitation firm D.F. King & Co. (New York City, NY, USA) to help it fight the planned takeover.
France Telecom is focusing on new superfast mobile services to repair the damage done by a costly price war in its home market, which has eroded its market share and profitability.
Europe's fourth-biggest telecom operator posted a 4 percent drop in first-quarter sales on Wednesday due to mobile price cuts in France, weak corporate demand, and regulatory changes.
Operating cash flow fell 12.9 percent to 1.98 billion euros ($2.58 billion), showing how the operator's home market had become less profitable after the launch of low-cost rival Iliad (Paris, France).
AT&T Inc reported a net loss of cellphone subscribers in the first quarter as it lost market share to bigger rival Verizon Wireless, sending its shares down about 2 percent.
As a result AT&T's revenue missed Wall Street expectations as its subscriber growth was driven by tablet computer users who pay lower monthly fees than phone users.
Reliance Jio Infocomm has signed an agreement with Bharti Airtel to rent capacity on the i2i submarine network that runs from India to Singapore, without disclosing the financial terms of the deal.
Reliance Jio (Mumbai, India) says the arrangement will allow it to connect directly with the world’s major business hubs and internet service providers, allowing it to provide ultra-fast services to its customers.
Banking on the enduring popularity of 2G networks for M2M services, third-placed US mobile operator Sprint says it is extending its partnership with Swiss-based module provider u-blox as it looks to capitalize on rivals’ plans to migrate all traffic to newer 3G and 4G networks over the next few years.
The operator says the u-blox (Thalwil, Switzerland) agreement will allow business customers concerned about the continuing availability of GSM-based 2G networks to extend the product lifetime of their existing 2G M2M devices by migrating to Sprint’s CDMA network.
China Mobile has reported net profit of RMB27.88 billion ($4.5 billion) for the first three months of 2013, just 0.3% higher than in the same quarter of 2012, as efforts to increase the usage of smartphone data services ate into its revenues.
The rate of growth is the lowest that China Mobile (Beijing, China) has reported in three quarters and came despite a 5.7% increase in quarterly revenues, to RMB134.7 billion.
South Korean operator SK Telecom claims to have broken through the 10-million mark for its LTE subscriber numbers just one year and nine months after first launching the service.
The country’s biggest operator said it reached the milestone on 19 April and would aim to have signed up a total of 15 million customers by the end of this year.
It also expects to introduce a commercial service based on LTE-Advanced – a standard that promises even faster connection speeds than LTE – in September.
As Brazil rushes to introduce a blazing-fast fourth-generation wireless network before the 2014 World Cup, fewer than a dozen compatible smartphones will be available in stores, compared with the hundreds of models on sale worldwide.
And the phones will be operational in a just few cities at first.
The launch of 4G services is crucial for Brazil to modernize its thinly stretched telecommunications infrastructure and ease the burden on 3G networks, which currently support over 68 million data users, according to regulator Anatel.
Westbase Technology and CradlePoint say they have launched a new M2M router in Europe designed for critical enterprise applications that require round-the-clock connectivity.
Manufactured by CradlePoint (Boise, ID, USA), the new router works on HSPA+ and LTE networks and is intended for use in a range of vertical sectors, including energy, retail, finance, security and transport.
Clearwire Corp is "actively considering" defaulting on a $255 million interest payment due June 1 on about $4.5 billion of outstanding debt, according to a proxy filing on Friday, as a shareholder vote approaches on Sprint-Nextel Corp's takeover offer.
The company, which urged investors to vote in favor of Sprint's buyout offer, warned that failure to close a deal may force it to contemplate a financial restructuring, which in turn could entail filing for bankruptcy.