Japanese mobile operator SoftBank Corp said it agreed with Sprint Nextel Corp to raise its offer for the U.S. wireless carrier to $21.6 billion from $20.1 billion, as it fights off a counter bid by Dish Network Corp.
SoftBank's amended offer, Japan's biggest outbound deal, won the backing of hedge fund Paulson & Co, Sprint's second-biggest shareholder, which had earlier supported the Dish bid. Paulson said it would vote all its shares in favor of SoftBank's improved offer.
OEM supplier First International Computer (FIC) is teaming up with M2M specialist Cluster Wireless on the development of M2M products and services for the enterprise market.
The two companies have announced a “multi-year technology collaboration and partnership” they say will accelerate the development of “intelligent, flexible, [and] cost-efficient” M2M services aimed at enterprise customers.
FIC (Taipei, Taiwan) says the partnership will give it more flexibility during the design, manufacture and deployment of its custom hardware products.
SoftBank has reportedly begun discussions with Deutsche Telekom about a takeover of T-Mobile US should it fail in its attempts to buy rival network operator Sprint.
The Japanese operator is pursuing a deal to buy a 70% stake in Sprint (Overland Park, KS, USA) for $20.1 billion, but faces competition from satellite TV provider Dish Network (Meridian, CO, USA), which has offered $25.5 billion for Sprint.
India’s Ambani brothers have signed a $2 billion deal to share network infrastructure, aimed at speeding up the rollout of 4G services.
Under the arrangement, Reliance Jio Infocomm (Mumbai, India) – owned by Mukesh Ambani – will lease up to 45,000 sites owned by Reliance Communications (Mumbai, India), the mobile operator controlled by Anil Ambani.
In a joint statement on the tie-up, the two operators said it would allow them to derive major benefits from the sharing of capital and operating costs.
Indian software giant Wipro has made a $5 million investment in Axeda in exchange for a minority stake in the M2M platform provider, the size of which has not been disclosed.
The Indian firm says it wants to capitalize on the rapid growth in the M2M market and plans to develop new enterprise applications in partnership with Axeda (Foxboro, MA, USA).
Malaysian telecoms operator DiGi has become a high-profile customer of Ericsson’s M2M platform as it looks to fortify its M2M offerings.
Ericsson is likely to have been an obvious choice for the subsidiary of Norway’s Telenor (Fornebu, Norway), whose Telenor Connexion M2M division already has a relationship with the Swedish vendor.
Ericsson (Stockholm, Sweden) says the platform will allow DiGi (Shah Alam, Malaysia) to reduce time-to-market for M2M applications, boosting revenue and reducing operational costs.
Britain's Vodafone and China Mobile said on Friday they had pulled out of the battle to win a new license in Myanmar, saying the conditions set by the country did not suit the two operators.
The Chinese and British groups, the first and second-largest operators in the world respectively, said in April that they had joined forces to bid for a license in the country formerly known as Burma, where the government wants to increase the number of mobile operators from two to four.
They were among 12 applicants to reach the short list.
Indian authorities dismissed Nokia's appeals over an income tax demand of 20.8 billion Indian rupees ($370 million), the phone company said, a setback for its efforts to resolve the dispute in a crucial market.
Nokia's (Helsinki, Finland) India unit was served in March with the tax demand for five years starting from 2006/07, in one of several tax disputes involving a foreign company in India.
The Finnish phone company said on Friday that it will examine all options, including taking the case back to the Delhi High Court. ($1 = 56.2450 Indian rupees)
Sprint Nextel Corp and Japan's SoftBank Corp have reached an agreement with U.S. authorities on the national security aspects of the Japanese firm's pending $20.1 billion deal to win control of the U.S. wireless carrier, people familiar with the matter said.
As a part of that agreement, the U.S. government will have a veto over new equipment purchases by Sprint in certain circumstances if the two companies merge, one source said.
India’s Sistema Shyam Teleservices (SSTL) saw its net loss widen to INR6.4 billion ($115 million) in the first quarter of 2013, from INR5.3 billion a year earlier, after license revocations forced the operator to shut down much of its business.
Owned by Russia’s Sistema (Moscow), the parent of Russian mobile-phone operator MTS, SSTL (New Delhi, India) reported a 14% drop in revenues, to INR3.5 billion, after closing networks in 13 of India’s telecoms circles.