SoftBank Corp President Masayoshi Son came out swinging on Tuesday against Dish Network Corp's rival bid for Sprint Nextel Corp, saying the satellite TV company would cripple Sprint with debt and was ill-prepared to run a wireless service.
Billionaire Son said there would be no need for SoftBank (Tokyo, Japan) to sweeten its bid and he dismissed Dish's $25.5 billion offer as "incomplete and illusory." He argued his $20.1 billion offer would ultimately be better value for Sprint shareholders.
Verizon said on Tuesday it plans to invest $100 million in solar power and fuel cells at 19 facilities in seven U.S. states to cut its carbon footprint and make its operations more resilient to storms and other disasters.
The energy project should be complete by next year, with installations at corporate offices, call centers, data centers and central offices of the telecommunications giant in Arizona, California, Maryland, Massachusetts, New Jersey, New York and North Carolina.
Wireless service provider Leap Wireless reported on Tuesday a wider quarterly loss as revenue declined as it had more than 93,000 net customer losses in the first quarter.
Leap (San Diego, CA, USA) posted a loss attributable to common shareholders of $111.3 million, or $1.43 per share, compared with a loss of $98.4 million, or $1.28 per share, in the year-ago quarter.
Revenue fell to $789.9 million from $825.6 billion, compared with Wall Street expectations for $735.75 billion, according to Thomson Reuters I/B/E/S.
(Reporting By Sinead Carew)
AT&T has launched a home security and monitoring service in 15 US markets, as it ramps up efforts to generate revenues from non-traditional sources.
The operator – which runs the second-biggest mobile-phone network in the US, after Verizon Wireless (New York City, NY, USA) – ultimately aims to generate $1 billion in annual revenues from the service, according to Reuters.
The operator reported first-quarter revenues of $31.4 billion.
US IT giant IBM says it has launched new products aimed at accelerating the adoption of M2M technologies by global organizations.
The company says its new software and services will help customers to connect their existing systems to a wide variety of mobile devices and M2M technologies.
At the cornerstone of the strategy is IBM MessageSight, a new product designed to help organizations manage the billions of mobile devices and sensors installed in automobiles, traffic management systems, smart buildings and household appliances.
PayPal is extending its reach to more physical stores, having signed up 50 merchant acquirers which help process payments but the eBay Inc unit has yet to persuade Wal-Mart Stores Inc, the world's largest retailer.
PayPal's expansion into brick-and-mortar stores gives the company access to a market that is roughly ten times the size of the online payments sector where it got its start over a decade ago.
Verizon Communications Inc's chances of buying the 45-percent stake in Verizon Wireless owned by the UK's Vodafone Group Plc will hinge, at least in part, on the quality of tax advice it is getting.
Verizon (New York City, NY, USA), the No. 2 U.S. telecommunications company, may have found a way to structure a purchase of the stake so that Vodafone (Newbury, UK) can avoid a multi-billion dollar U.S. capital gains tax bill, sources familiar with Verizon's plans said. The possibility of a huge tax bill has previously been regarded by analysts as a big hurdle to any such deal.
Aurelius Capital, a big shareholder in U.S. wireless service provider Clearwire Corp, filed a lawsuit against Clearwire directors and Sprint Nextel Corp over Sprint's December agreement to buy out the portion of Clearwire it does not already own.
Aurelius (New York City, NY, USA), which says it owns 17 million Clearwire (Bellevue, WA, USA) shares, said Sprint (Overland Park, KS, USA), as Clearwire's majority shareholder, had dictated "manifestly unfair" terms for its Clearwire deal, in a filing at the Court of Chancery of the State of Delaware on Friday.
MetroPCS shareholders have given their blessing to the proposed merger of the operator with T-Mobile USA, removing the final obstacle to the deal, which is now expected to close by May 1.
According to a statement from T-Mobile USA (Bellevue, WA, USA) owner Deutsche Telekom (Bonn, Germany), a majority of MetroPCS (Richardson, TX, USA) shareholders voted in favor of the merger on Wednesday.
Investment company Crest Financial has once again lashed out at Sprint’s proposed takeover of Clearwire, urging Clearwire’s management to shun the “coercive” terms.
Crest (Cerritos, CA, USA) owns a 5.1% stake in Clearwire (Bellevue, WA, USA) and claims to be the largest shareholder that is unaligned with Sprint.
The company is vehemently opposed to the deal, which would see Sprint (Overland Park, KS, USA) acquire full control of Clearwire, and last month hired proxy-solicitation firm D.F. King & Co. (New York City, NY, USA) to help it fight the planned takeover.