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.
Telecom Italia is considering whether to float its fixed-line network in a move seemingly aimed at keeping it separate from a possible deal with Hutchison Whampoa, according to a report from Italy’s Il Messaggero newspaper.
The former state-owned monopoly is looking into a tie-up with Hutchison Whampoa (Hong Kong) under which it would absorb 3 Italia (Rome, Italy), the Hong Kong-based company’s Italian telecoms business, in return for giving Hutchison Whampoa a 29.9% share in Telecom Italia (Rome, Italy).
Strong demand for mobile broadband equipment in Latin America will keep Ericsson's plant in Brazil at full capacity this year, says a senior executive at the telecom equipment manufacturer.
Mobile phone operators in Brazil are scrambling to improve their networks after heavy scrutiny from regulators because of poor service and a lack of investment in mobile infrastructure in recent years. The problems came despite a ballooning client base in Latin America's biggest economy.
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.
Etisalat will make a binding offer on Wednesday to buy Vivendi's 53 percent stake in Morocco's Maroc Telecom, a deal in which the UAE telecom firm is expected to face stiff competition from its regional rival in Qatar.
French media group Vivendi (Paris, France) wants to sell its stake in the Moroccan business to help reduce its debts - a deal seen as more critical since Vivendi failed to sell video game firm Activision Blizzard (Santa Monica, CA, USA) and Brazilian telecom unit
GVT (Curitiba, Brazil) as part of a much-heralded strategic shift.
AT&T Inc reported a net loss of cellphone subscribers in the first quarter as it lost market share to bigger rival Verizon Wireless, sending its shares down about 2 percent.
As a result AT&T's revenue missed Wall Street expectations as its subscriber growth was driven by tablet computer users who pay lower monthly fees than phone users.
Reliance Jio Infocomm has signed an agreement with Bharti Airtel to rent capacity on the i2i submarine network that runs from India to Singapore, without disclosing the financial terms of the deal.
Reliance Jio (Mumbai, India) says the arrangement will allow it to connect directly with the world’s major business hubs and internet service providers, allowing it to provide ultra-fast services to its customers.
Britain's telecoms regulator is proposing to change the way it will allocate the next batch of airwaves to be made available to mobile operators facing burgeoning demand for mobile data.
Telecoms operators have previously paid billions of pounds to secure long leases on the best chunks of airwaves, known as the real estate of the mobile industry, most recently in the 4G auction.
Saudi Telecom has reported a 38.5% fall in first-quarter net income, to SAR1.55 billion ($413 million), due largely to a SAR500 million impairment charge against its investment in Indian operator Aircel.
Despite the bottom-line setback, the state-backed incumbent reported a 3.7% increase in revenues, to SAR11.47 billion, and said efficiency improvements had helped to bolster gross profits by 2.6%, to SAR6.49 billion.
A succession of retail investors criticized Telecom Italia at a meeting on Wednesday, but any bigger shareholders unhappy at its performance avoided the kind of open challenge that could rattle management.
The debt-laden company's share price has tumbled close to an all-time low as Chairman Franco Bernabe tries to resolve a deadlock over its future plans and tension caused by an ownership structure that gives core investors holding less than a quarter of the stock effective control.