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.
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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.
Spanish telecom firms are yielding to the reality of recession by selling new superfast mobile services at no extra charge, offering a cautionary tale for European peers which hope premium 4G prices will help them return to growth.
Many consumers in Spain, where unemployment stands at 26 percent, are unwilling or unable to spend up to 800 euros ($1,100) on a 4G-enabled smartphone and then sign up to a more expensive monthly plan - despite the promise of download speeds that are five times faster than existing 3G services.
French low-cost telecom operator Iliad will soon open a second front in a mobile price war when it starts helping customers buy expensive smartphones in the coming months, piling more pressure on its larger rivals.
Honduras has awarded Mexican telecoms giant America Movil and emerging markets telecoms group Millicom licenses to offer 4G high-speed mobile services, telecoms commission Conatel said on Tuesday.
America Movil (Mexico City, Mexico) operates under the brand Claro in Honduras, while Millicom (Luxembourg) operates under the name Tigo. The licenses cost $12.05 million each.
The companies must start operating 4G networks within 18 months, Conatel said.
(Reporting by Gustavo Palencia; Editing by Edwina Gibbs)
Telecom Italia chief executive Franco Bernabe is planning on tendering his resignation at a board meeting scheduled for later this week, reports Bloomberg.
The boss of Italy’s biggest phone company has reportedly lost the support of Telco, the Telefonica-controlled consortium that holds a 22.4% stake in Telecom Italia (Milan, Italy), after clashing with shareholders over the operator’s strategy.