Leading stakeholders in Telecom Italia are interested in selling their shares amid raised expectations following Verizon’s $130 billion deal to buy Vodafone out of their US joint venture, reports Reuters.
According to sources familiar with the matter, investors in Telco, which controls 22.4% of Telecom Italia (Milan, Italy), are looking to take advantage of the current market conditions and cash in their shares, with Vodafone (Newbury, UK), Japan’s SoftBank (Tokyo) and Mexico’s America Movil (Mexico City) seen as possible buyers, according to brokerage firm Bernstein.
VimpelCom has announced that Mikhail Slobodin will become chief executive of its Russia business unit, with Anton Kudryashov promoted to the role of chief business development and portfolio officer for the entire company.
Slobodin joins VimpelCom (Amsterdam, Netherlands) from energy company TNK-BP (Moscow, Russia), where he was executive vice president of strategy and new business development, and takes up his new position in the telecoms industry immediately.
Verizon Communications was poised on Monday to finally take full control of its U.S. wireless business with a $130 billion deal that would buy out Vodafone and bring an end to a decade-long corporate standoff.
The British firm said late on Sunday it was in advanced talks with Verizon (New York City, NY, USA) to sell its 45 percent stake in the Verizon Wireless joint venture for cash and common shares in what would be the world's third-largest deal of all time.
America Movil threatened to abandon its bid for Dutch telecom KPN on Friday, saying it has no plans to raise the 7.2 billion euro ($9.5 billion) offer, after a foundation representing KPN told the Mexican firm to improve its proposal or face a veto.
The foundation, an independent group of former Dutch companies' executives tasked with protecting KPN (The Hague, Netherlands) stakeholders, bought almost 50 percent of KPN's voting stock late on Thursday, moving to block the deal.
Beleaguered mobile broadband operator LightSquared has filed a “reorganization plan” with the US Banktupcy Court in Manhattan that proposes a sale of assets as a means of overcoming its difficulties, reports Dow Jones Newswires.
The operator filed for bankruptcy protection in May 2012, following a government ruling that its spectrum would interfere with global positioning systems, and since then has made concessions on spectrum sharing that it hopes will convince authorities its network can be used.
Finnish operator DNA has announced that chief executive Riita Tiurnaniemi is to leave the company and says it hopes to find a replacement by the end of the year.
In a statement, DNA (Helsinki, Finland) said Tiurnaniemi’s successor would need to be a dynamic leader with a clear vision about future opportunities for the company, which operates Finland’s third-biggest mobile network and lies in joint third place in the country’s broadband market.
This seminar focuses on next steps for the provision of broadband across the UK and the options to encourage greater use by customers and service providers of the 'superfast' network. The conference takes place in the context of the DCMS strategy document: Connectivity, Content and Consumers - Britain's Digital Platform for growth, as well as the NAO report, PAC and EFRAC select committee investigations into the challenges facing the rural broadband programme.
US operator Sprint is to slash 800 jobs in its customer services department because fewer people are making calls to its centers, reports the Associated Press.
Despite the redundancies, the operator is reported to have said it expected its overall number of employees to remain at about 40,000 because of hiring in other parts of the business, including at its retail stores.
The operator also attributed the decrease in calls to its centers to an improvement in levels of customer satisfaction.
Telecom Italia has reportedly hired Mario Di Loreto from Italian food company Barilla to head its personnel department.
Citing sources familiar with the matter, Bloomberg says Di Loreto will take up his new position at the beginning of September, replacing Antonio Migliardi, who is resigning after five years in the job.
According to the report, the appointment will be critical to the success of the Italian incumbent’s plan to spin off its fixed-line network, which is set to involve the transfer of some 20,000 employees.
Turkish operator Turkcell has reported impressive gains in revenue and earnings for the three months ending June on the back of strong demand for mobile broadband services.
The company saw revenues increase by 11%, to TRY2.86 billion ($1.43 billion), compared with the same period of 2012, while earnings before interest, tax, depreciation and amortization rose by 12%, to TRY869 million, over the same period.