Embattled US operator LightSquared (Reston, USA) has asked the Federal Communications Commission (FCC), the US telecoms regulator, for permission to continue using frequencies that do not interfere with GPS systems while authorities address their concerns about its other spectrum holdings, according to Dow Jones Newswires.
Vodafone Group (Newbury, UK) said it would cost about 500 million pounds ($807 million) to fix Cable & Wireless Worldwide (CWW) (London, UK) over the next four years but the payback by 2016 from the acquisition would be bigger than some analysts expected.
Research In Motion Ltd (Waterloo, Canada) shares jumped on Friday after the embattled BlackBerry maker posted quarterly results that showed it was still able to pull off a surprise as it tackles the formidable task of getting consumers excited over its new smartphone line.
While RIM's performance gave Wall Street a modicum of optimism, analysts stressed RIM has to now prove that the BlackBerry 10 devices, due early next year, can halt its brand's downward spiral. That won't be easy, they said.
Middle East telecommunications firms are discussing the idea of creating a pan-Arab online platform that would earn them more revenue from their networks by challenging Facebook (Menlo Park, USA) and other Internet behemoths of the West.
The ambitious project faces technical and financial obstacles and may never be implemented on a large scale.
Reliance Industries (Mumbai, India) is likely to participate in the forthcoming auction of frequencies that were previously awarded in 2008 but seized by authorities earlier this year, according to a story in India’s Economic Times newspaper.
The company already owns spectrum through its Infotel Broadband subsidiary, but it is not allowed to provide voice services over those frequencies.
Telekom Austria (Vienna, Austria) has slashed its dividends by 87% in the same week that Mexican billionaire Carlos Slim secured a 23% share in the incumbent operator.
In a statement released this week, the company said it would cut its dividend from €0.38 to €0.05 per share this year and maintain that figure throughout 2013.
Teliasonera (Stockholm, Sweden) will kick off the sale process for its Spanish mobile operator, Yoigo, in the next two weeks in a deal that is expected to attract bids from France Telecom (Paris, France) and Vodafone (Newbury, UK), three people familiar with the matter said.
Information documents are set to go out soon to bidders, the people told Reuters, after being delayed over the summer by holidays and the departure of Yoigo's chief executive.
Singapore state investor Temasek Holdings (Singapore) will sell as many as 500 million shares in Singapore Telecommunications Ltd (Singapore) to raise up to $1.34 billion, according to a term sheet seen by IFR late on Tuesday.
The transaction comprises a base size of 400 million SingTel shares at S$3.20 and S$3.25, which works out to around S$1.3 billion ($1.06 billion). It includes an upsize option for another 100 million shares that if exercised will raise the deal size to $1.34 billion.
A Temasek spokesman confirmed the sale.
For mobile service providers like AT&T Inc (Dallas, USA), it's not enough that consumers came out in droves to buy the newest iPhone from Apple Inc (Cupertino, USA).
They need people to dig more deeply into their wallets each month to pay for data services, such as mobile video, to cushion the impact of the iPhone's steep price tag on the carriers' bottom lines.
A US House panel is investigating whether the country’s telecoms regulator rushed through its approval of LightSquared’s application to operate a wireless network in early 2011, according to a report from Dow Jones Newswires.
LightSquared (Reston, USA) was subsequently stopped from providing services owing to concerns that its technology interferes with GPS signals transmitted by the airline industry, among others.
The company filed for Chapter 11 bankruptcy protection in May and is fast running out of cash while its network goes unused.