Telecom Italia has expressed interest in buying GVT, the Brazilian telecoms operator owned by France’s Vivendi.
According to The Wall Street Journal, Marco Patuano, Telecom Italia’s chief operating officer, said the Italian incumbent would evaluate a purchase of GVT (Curitiba, Brazil) during its board meeting next month, but would need additional capital to fund the takeover.
Speaking at this week’s Morgan Stanley TMT conference, Patuano is reported to have said that Egypt’s Naguib Sawiris could provide the means to invest in GVT.
SingTel reported a 1.6% year-on-year fall in net profit for the September-ending quarter, to S$868 million ($710 million), with performance hit by price competition and unfavourable regulation in Australia’s mobile-phone market.
A rise in expenses and the impact of foreign exchange movements also weighed on the bottom line.
Overall revenues were just 0.8% lower than in the corresponding quarter of 2011, at S$4.572 billion, but revenues from Australia’s Optus fell by 3.6% to S$2.9 billion.
Egypt’s Orascom Telecom swung to a net profit of $106 million for the third quarter, compared with a net loss of $1.5 million in the same period last year, after foreign exchange gains boosted its earnings.
Performance was aided by a 7.6% reduction in capital expenditure as Orascom (Cairo, Egypt) slowed the pace of network expansion in Bangladesh and Pakistan.
But the operator, which merged with Russia’s VimpelCom (Amsterdam, Netherlands) last year, also blamed currency movements for a 4.4% drop in dollar-denominated revenues, to $885 million.
Telus Corp reported a stronger third-quarter profit on Friday, as increased smartphone adoption boosted earnings from its wireless business and spurred the Canadian telecom company to raise its quarterly dividend.
Wireless data revenue jumped 23 percent in the third quarter ended September 30 as the proportion of postpaid subscribers using smartphones rose to 63 percent, from 48 percent a year earlier.
The Vancouver-based company, one of Canada's largest telecom players, raised its quarterly dividend to 64 Canadian cents a share, from 61 Canadian cents.
Egyptian telecoms tycoon Naguib Sawiris has reportedly offered to spend as much as €5 billion ($6.4 billion) on a stake in Telecom Italia, Italy’s debt-ridden telecoms incumbent, according to a report in Italy’s Il Corriere della Sera newspaper.
Citing sources close to the matter, the Italian daily reports that Franco Bernabe, the Italian operator’s chief executive, has put the offer before the board.
AT&T Inc will boost capital spending by about 16 percent to $22 billion a year for the next three years to upgrade its wireless and wireline networks, the company said on Wednesday.
Its shares fell more than 3 percent after the news.
Rival Verizon Communications Inc (New York, USA) is ahead in high-speed mobile services, and AT&T (Dallas, USA) also must improve rural phone lines, comprised of outdated copper technology.
New Delhi, India:
Serving the industry for 20 years, the Exhibitions India Group is proud to play an integral role in the changing landscape of the Indian Information and Communication environment.As we move towards a world connected economies, the milestone 21st edition of Convergence India 2013 expo is themed as "Enriching A Billion Lives". The expo will focus on new-age technologies and merging business solutions, enabling to enrich the lives of a billion people.
For the first time in the history of telecommunications, consumer spending on mobile data has surpassed spending on mobile voice services. This surging need for data – which the Telecommunications Industry Association (TIA) predicts will lead to a 34 percent jump in infrastructure spending over the next four years – is placing unprecedented demands on the network. With this challenge as the backdrop, TIA is bringing together influential industry executives, thought leaders and policymakers for the only event focused purely on The Future of the Network.
After reporting losses a year earlier, Spain’s Telefonica entered profitable territory last quarter, with net income of €1.38 billion ($1.77 billion), while chipping away at its mountain of debt.
The company had reported losses of €429 million in the third quarter of 2011, largely due to expenses incurred as a result of laying off thousands of workers in its domestic market.
It also managed to lower its net debt by €2.3 billion, to €56 billion, and anticipates a further reduction of €3.2 billion, following several divestments and the IPO of Telefonica Deutschland.
AT&T reached a tentative agreement on wage increases and benefits with 22,000 employees in southeast States represented by the Communications Workers of America (CWA) trade union.
Under a three-year arrangement, the two sides have agreed to wage increases of 2.25% in the first year, 2.75% in the second year and 3% in the third.
For most employees, the contract also includes a 1% pension band increase in each year, while service technicians and outside plant technicians will be upgraded to new wage scales.