LightSquared is proposing a new bankruptcy exit plan with financing from Fortress Investment Group and other backers, as the U.S. wireless communications company seeks to avoid a sale to highest bidder Dish Network Corp.
Hong Kong’s PCCW has announced plans to buy Telstra’s 76% stake in local rival CSL for the sum of $2.43 billion.
The deal will put PCCW (Hong Kong) in control of assets it sold more than ten years ago, reports Bloomberg, and help to reduce the level of competition in Hong Kong’s saturated phone market, where there are approximately twice as many subscriptions as people.
Wireless service provider Sprint Corp and satellite television company Dish Network Corp said they will jointly develop a trial wireless service in Texas, in an apparent sign of improving relations between the companies.
Dish (Meridian, CO, USA) has been seeking a partnership with an established mobile operator to help it enter the wireless market. However, its efforts earlier this year to buy Sprint (Overland Park, KS, USA) failed after a bitter public battle with Japan's SoftBank Corp (Tokyo), now the owner of 80 percent of Sprint.
US operator Sprint is readying a bid of more than $20 billion for smaller rival T-Mobile US, according to a report from Dow Jones Newswires.
Citing people familiar with the matter, the newswire says Sprint is currently studying regulatory concerns but could launch a bid in the first half of next year.
A takeover would combine the country’s third- and fourth-biggest players to create a stronger rival to market leaders AT&T (Dallas, TX, USA) and Verizon Wireless (New York City, NY, USA).
The court-appointed monitor for struggling Canadian wireless startup Mobilicity has extended the deadline for suitors to bid for the company by a week to December 16, a regulatory filing shows.
Bidders for the Toronto-based startup, which filed for court protection from its creditors earlier this year, now have until noon next Monday to submit their offers in the court-supervised auction, according to a document posted on the website of monitor Ernst & Young Inc.
Ernst & Young said it extended the deadline following requests from several bidders.
Hong Kong authorities have denied that plans to re-auction some of the 3G frequencies currently in use will cause disruption and lead to higher prices for the country’s 3G users.
Frequencies in the 2.1GHz band are due to expire in October 2016, but under a so-called “hybrid approach” regulators plan to re-auction just a third of these frequencies, which – it insists – represents just 7–10% of the overall spectrum held by the incumbent operators.
France’s Iliad has made clear that it plans to continue being a thorn in the side of the country’s incumbent operators by unveiling a range of low-cost tariffs for its new 4G service.
The operator says a 4G service will now be available to consumers for as little as €19.99 ($27.15) a month, or €15.99 for customers who already subscribe to its internet services.
The tariff includes 20GB of monthly data usage and Iliad claims its price is just a fifth of fees being charged by rivals for a comparable service.
Hungary’s telecoms authorities have announced plans to sell licenses for unused spectrum that could be used to support 4G services in an effort to boost competition in the market.
In a statement published this week, the NMHH – which regulates Hungary’s telecoms market – said it would tender unused frequencies in the 800MHz, 900MHz, 1800MHz, 2.6GHz and 26GHz bands.
Hutchison Whampoa's Austrian telecoms unit said it would appeal against the result of a spectrum auction that cost the country's three carriers 2 billion euros ($2.7 billion).
The auction, Europe's most expensive per head of population for fourth-generation (4G) frequencies, took place under strict conditions that allowed the parties no knowledge of each others' bids to minimize the danger of collusion.
The Defense Department has reached an agreement with the broadcasting industry on sharing some radio airwaves, making progress toward President Barack Obama's goal of clearing more valuable spectrum for mobile networks.
Obama directed federal agencies in June to look for ways to give up or share with the private sector more of the airwaves they control, three years after his call to open up 500 megahertz (MHz) of federal spectrum for commercial use to satisfy growing demands from data-hungry devices and services.