MTN Group on Monday confirmed that a U.S. court had put on hold the $4.2 billion lawsuit against it by Turkish rival Turkcell, pending a separate Supreme Court decision.
The Supreme Court had heard oral arguments in a high profile case against Royal Dutch Shell this month, a case which may determine whether foreign corporations can be sued in U.S. courts under an 18th century law.
Vivendi is exploring a merger between SFR, its French mobile-phone business, and Numericable, a cable operator in the country, reports the Financial Times.
Sources claim the French media conglomerate has been in discussions with Caryle, Cinven and Altice, the private-equity owners of Numericable (Paris, France), about combining the separate operations in a new company, in which Vivendi (Paris, France) would hold a 49% share and Numericable’s owners the controlling stake.
The inaugural summit, “INTO MYANMAR Mobile Telecom, Internet Infrastructure & Cloud Computing Global Summit 2012” will be held in Yangon, Myanmar from 3 – 4 December 2012.
Scandinavian operator TeliaSonera (Stockholm, Sweden) has been forced to affirm its support for chief executive Lars Nyberg after press reports suggested the operator had hired a recruitment consultant to find his replacement.
Nyberg has been caught up in a scandal surrounding TeliaSonera’s operation in Uzbekistan, where it stands accused of bribery and money laundering.
One of TIM Brasil’s minority shareholders has filed a lawsuit against Telecom Italia (Rome, Italy), which owns 67% of the Brazilian operator, claiming the Italian company’s mismanagement has resulted in substantial losses for investors.
According to a Reuters report, JVCO Participações blames Telecom Italia for wiping 10 billion reais ($4.9 billion) off the value of TIM Brasil (Rio de Janeiro, Brazil). In a statement, the investment group said that Telecom Italia “has exercised its controlling power abusively, causing losses to TIM and its shareholders”.
Verizon Wireless (New York, USA) said it is about two months ahead of schedule in its network upgrade as it will have high-speed wireless service in 400 markets by October 18, ahead of its year-end target for this milestone.
Since late 2010, Verizon Wireless, a venture of Verizon Communications and Vodafone Group Plc (Newbury, UK), has been upgrading its network with a high-speed wireless technology known as Long Term Evolution (LTE).
Vivendi (Paris, France) is considering a sale of its controlling stake in Morocco’s largest telecoms operator, according to the Financial Times.
The French media conglomerate has reportedly hired Lazard and Crédit Agricole banks to look into the sale of its 53% stake in Maroc Telecom (Rabat, Morocco).
Such a divestment could raise as much as €4 billion for Vivendi, according to financiers cited by the FT.
Hutchison 3G (Hong Kong) is set to meet EU authorities on Wednesday this week to present the case for its planned takeover of Orange Austria, reports Reuters.
The mooted €1.3 billion acquisition has run into opposition from Joaquin Almunia, the EU’s competition commissioner, who fears the merger will result in a poorer deal for Austrian telecoms consumers and higher wholesale rates for MVNOs.
Italy's third-largest mobile phone company Wind (Rome, Italy) called for peers to share their frequencies and antennas to help roll out a superfast network.
"I believe there is awareness among all mobile operators that there is the need to place, into a specifically created company, frequencies and networks," Wind Chief Executive Maximo Ibarra said on the sidelines of an event in Capri on Friday.
"Competition will be on services," he said.
In one of the biggest telecoms deals of the year so far, Qtel (Doha, Qatar) has raised its stake in Wataniya (Kuwait City, Kuwait) from 52.5% to 92.1% for a fee of 519.1 million Kuwaiti dinars ($1.85 billion), hoping to boost the performance of Kuwait’s number-two operator.
Qtel, which has emerged as a major regional player over the last few years, says that increasing its stake in Wataniya represents a major step forwards in its ongoing expansion strategy.