MEXICO CITY (Reuters) - Billionaire Carlos Slim's America Movil AMXL.MX said on Tuesday it is ready to divest assets in an unprecedented step to cut its market share in Mexican telecoms below 50 percent and escape the burden of tougher regulations.
The company, which controls some 70 percent of Mexico's mobile market and 80 percent of the fixed line business, said in a statement its board had decided to sell assets to another company that could boost investment in the sector.
BRUSSELS/FRANKFURT (Reuters) - European regulators have cleared Telefonica's bid to consolidate the German mobile market by buying smaller rival KPN's E-Plus for 8.6 billion euros ($11.7 billion), raising prospects of more deals to come across Europe's telecoms markets.
The European Union's powerful antitrust chief Joaquin Almunia said on Wednesday that Telefonica agreed to concessions - including selling some radio spectrum and renting out capacity on its network to smaller rivals - to ensure that the deal does not lead to higher prices for customers.
SAO PAULO (Reuters) - Two Brazilian board members of Portugal Telecom resigned after learning of 897 million euros ($1.22 billion) of short-term investments the company made without consulting them, newspaper Valor Economico reported on Wednesday.
The Portuguese company invested in debt issued by Rioforte, a firm controlled by the owners of Espirito Santo Group, which is a major shareholder in Portugal Telecom.
BEIJING (Reuters) - Xiaomi, the Chinese smartphone maker valued at $10 billion last year, saw smartphone shipments for the first half of 2014 surge to nearly four times higher than in the same period last year.
The Beijing-based Xiaomi shipped 26.1 million handsets in the first six months of the year, it said in a press release on Wednesday. This was more than it shipped in the whole of 2013 and almost quadruple the 7.03 million units for the first half of last year.
More people than ever are using 4G-LTE networks, and this influx of smart devices, machines and appliances connected to the Internet will cause extra traffic, and strain the capabilities that draw consumers to a new network in the first place.
By 2017, according to a recent report by Pyramid Research, the number of LTE subscriptions worldwide will reach 802.2 million, a 72% CAGR over 2012 levels, growing to almost 10 percent of global mobile subscribers.
TOKYO (Reuters) - Japan's KDDI Corp and SoftBank Corp said bigger rival NTT DoCoMo Inc (DoCoMo) could gain too much control of the wireless telecommunications business should DoCoMo's parent offer its fibre-optic broadband for resale.
Former state monopoly Nippon Telegraph and Telephone Corp (NTT) in May said it planned to sell its fibre-optic broadband to mobile phone network providers, which can then re-brand the service and sell it together with mobile phone contracts.
(Reuters) - Verizon Communications Inc unit Verizon Wireless is looking to buy satellite-TV operator Dish Network Corp's spectrum to improve wireless internet speeds, the New York Post reported, citing sources familiar with the matter.
Dish's shares were up 3.4 percent at $61.81 on the Nasdaq on Friday morning. Verizon Communications shares were little changed at $49.39.
The two companies have held informal, early talks about the spectrum, the report said.
WASHINGTON (Reuters) - Chinese electronics maker C.T.S. Technology Co Ltd will face the largest fine in the U.S. Federal Communications Commission's history, of $34.9 million, for marketing illegal devices that block phone calls and other radio signals, the FCC said on Thursday.
U.S. law prohibits using, selling or marketing devices that block, jam or interfere with authorized radio signals such as telephone calls, GPS systems, Wi-Fi networks or first-responder communications.
LONDON (Reuters) - Vodafone is buying an Italian car electronics maker for 145 million euros ($197 million), seeking to get ahead in the race to connect more products to the internet and offset slowing growth in its core mobile phone business.
SEOUL (Reuters) - Samsung Electronics Co Ltd is buying more local bonds with its $60 billion cash pile as domestic banks grow reluctant to overload on deposits from the South Korean giant.
The investments by the world's biggest smartphone maker underscore the challenge of managing its huge and growing reserves, with banks increasingly wary that it could withdraw short-term deposits upon maturity and create funding problems.