BUENOS AIRES (Reuters) - With the launch of its second telecommunications satellite made in Argentina on Wednesday, President Cristina Fernandez celebrated the country's technology milestone and wants the South American nation to manufacture eight more over the next 20 years.
Launched from French Guyana atop an Ariane 5 rocket, the satellite will provide telecommunications services across much of the western hemisphere. Argentina last year launched its first satellite which provided country-wide coverage.
CARACAS (Reuters) - Venezuela's telecoms industry was deteriorating because of a scarcity of dollars, putting roaming and mobile internet services at risk, the crisis-hit country's telecoms chamber said on Tuesday.
Telecoms, like almost all sectors of socialist-run Venezuela's battered economy, depend on a strict state allocation of dollars for imports and investments.
But a tumble in oil prices and an economic crisis have restricted the availability of hard currency, causing shortages ranging from iPhones to catheters and flour, and harming investments.
A poll by the Organization of American States found that 40 percent of respondents had battled attempts to shut down their computer networks, 44 percent had dealt with bids to delete files and 54 percent had encountered “attempts to manipulate” their equipment through a control system.
SAO PAULO/MILAN (Reuters) - Brazil's Grupo Oi SA, Mexico's America Movil SAB and Spain's Telefonica SA agreed to place a joint bid worth around 32 billion reais ($13 billion) for TIM Participações SA, two sources with direct knowledge of the matter said on Friday.
The companies agreed to present a single offer to minority shareholders and Telecom Italia SpA, which owns about 67 percent of TIM Participações, Brazil's No. 2 wireless carrier, said the first source, who requested anonymity as the deal is still in the works.
NEW YORK (Reuters) - AT&T Inc is "intrigued" by Latin America and especially Mexico and would not rule out an opportunistic deal there even as it seeks to complete its $48.5 billion planned takeover of DirecTV, an AT&T executive said at a conference on Tuesday.
AT&T is one of several potential buyers Carlos Slim's America Movil has contacted as it tries to sell a chunk of assets, according to a source familiar with the situation.
(Reuters) - Mobile service provider NII Holdings Inc, reporting its ninth quarterly loss in a row, said on Monday it may have to file for bankruptcy after struggling to compete in Brazil and Mexico.
NII shares fell more than 50 percent in after-market trading to 30 U.S. cents, after ending regular trade at 66 cents on the Nasdaq.
MEXICO CITY (Reuters) - Carlos Slim's America Movil, Latin America's biggest telecoms company, said on Monday that new regulation in its core Mexico market was beginning to weigh on its performance.
Lower exchange rate and financing costs helped the company increase its profit by 32.7 percent to 18.83 billion pesos ($1.45 billion) in the second quarter. Revenue also rose 4 percent to 202.63 billion pesos.
But the results were below expectations forecast in a Reuters poll of five analysts of a net profit of 20.74 billion pesos ($1.6 billion).
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.
Latin American telecoms giant America Movil has launched a €1.4 billion ($1.9 billion) offer for the 73% stake in Telekom Austria it does not already own.
The offer values Telekom Austria at €7.15 a share and is set to remain open for a period of eight weeks, said America Movil (Mexico City, Mexico) in a statement.
For the deal to go ahead, the offer must be accepted by shareholders currently in control of at least 50% of the outstanding shares.
Brazilian operator Telefonica Vivo has teamed up with network equipment supplier Ericsson on a smart city in Sao Paolo.
Ericsson (Stockholm, Sweden) is initially to support the rollout of smart parking and smart lighting services and take responsibility for system integration aspects of the project.
The company says design, installation and rollout are all included in the scope of the agreement – along with responsibility for managed services, including operations and maintenance, once the technology is up and running.