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.
Smaller wireless carriers should be able to get a fair share of spectrum in the forthcoming U.S. auction to ensure the market is competitive, the Justice Department told the Federal Communications Commission in a filing made public on Friday.
The filing underlines the high value of the low-frequency spectrum that will be auctioned off, and delivers a blow to the two largest U.S. providers, Verizon Communications Inc (New York City, NY, USA)
Italian mobile phone operator Wind is to spend $1.3 billion on building a fourth-generation (4G) mobile broadband network to step up competition to rivals Telecom Italia
The investment will use technology from Italy's Sirti (Milan, Italy) and Huawei Technologies (Shenzhen, China)
Sweetening the terms of a U.S. merger not only improves Deutsche Telekom's chances of getting a deal done, but may also pave the way for what some investors and bankers think it really wants - to reduce its exposure to a highly competitive market.
The German group's T-Mobile USA (Bellevue, WA, USA) unit lacks the critical mass to take on bigger U.S. rivals Verizon (New York City, NY, USA), AT&T (Dallas, TX, USA) and Sprint (Overland Park, KS, USA) and has been losing market share.
Visitors to Brazil for the 2014 soccer World Cup will not be able to use the latest wireless technology operating on a frequency used widely in the United States and Europe, the head of telecom regulator Anatel told Reuters.
Anatel president Jõao Rezende said in an interview that the 700 MHz spectrum won't be ready for the big event. Instead, he said, tourists can buy local 4G chips that will work on Brazil's 2.5 GHz network - or settle for slower service.
UK mobile operator EE says it is aiming to sign 1 million customers up to its 4G service by the end of the year and hopes to attract new business by doubling connection speeds from their current level.
Speaking at a press conference in London, chief executive Olaf Swantee said the operator – a joint venture between Deutsche Telekom (Bonn, Germany) and France Telecom (Paris, France) – would start doubling average 4G speeds to 20Mbps by dedicating 20MHz of its 1800MHz spectrum to the service, compared with the 10MHz it uses today.
Telecom New Zealand (TNZ) has said it will launch 4G services in October in the city of Auckland and extend the technology to Wellington and Christchurch by Christmas.
Next year, the incumbent operator plans to have the service up and running across about half of its smartphone network.
The access infrastructure is to be rolled out by Chinese equipment maker Huawei, while Cisco will build the core network.
Tele2 has told the UK’s Financial Times newspaper that it will seek further acquisitions after negotiating the sale of its Russian subsidiary to VTB, a state-controlled bank, earlier this month.
VTB (Moscow, Russia) paid $3.5 billion for the company after MTS (Moscow, Russia) and Vimpelcom (Moscow, Russia), Tele2’s biggest mobile rivals, had teamed up to offer as much as $4.25 billion.
Xavier Niel, the founder of French mobile-phone upstart Iliad, has suggested the operator may be preparing to launch 4G services during an interview with the Europe1 radio station.
“We will try to provide a surprise one day,” he is quoted as saying by Dow Jones Newswires.
The operator has been advancing rapidly in the 2G and 3G markets since launching services in early 2012 at a fraction of the prices charged by the country’s incumbents.