Cloud firm Box.net seeks $35 million in new funding

Reuters

Cloud-storage and file-sharing company Box.net (Palo Alto, Calif., U.S.A.) is raising $35 million in new funding, according to a recent filing. The company -- which focuses on providing Internet-based document storage for business users -- has already raised $18.7 million through a group of seven unidentified backers.

The company completed a $48 million funding round in February on top of $15 million round last year and several earlier, smaller rounds. The new financing brings Box.net's total funding to $112.6 million.

Google acquires Motorola Mobility for $12.5 billion

Google Inc. (Mountain View, Calif., U.S.A.) announced on Monday the acquisition of hardware maker Motorola Mobility Holdings Inc (Libertyville, Ill., U.S.A.) for $12.5 billion, or $40.00 per share in cash.

The transaction was unanimously approved by the boards of directors of both companies. Motorola Mobility will remain a licensee of Android and Android will remain open, and according to Google Motorola Mobility will run as a separate business.

China Mobile to set up finance unit with $780 million

Reuters

China Mobile Ltd (Hong Kong, China), the world's largest mobile operator, said on Friday it will use $780 million to set up a finance unit in a move that could disappoint shareholders hoping for a dividend hike.

The new unit would be called China Mobile Finance and would engage in financial services such as insurance agency business and inter-bank lending, China Mobile said in a statement posted on the Hong Kong stock exchange.

Iraqi lawmakers seek $2.85 billion from telecom firms

Reuters

Iraq's parliament has ruled that three mobile operators must pay $2.85 billion in license fees and fines within a month, overturning a deal allowing them to pay over five years, lawmakers and officials said on Thursday.

The ruling could reinforce investor worries about unclear regulations over who controls the telecommunications sector, one of the fastest growing industries in a country pulling back from years of war.

FCC lays out plan for texting 9-1-1 messages

Reuters

Consumers will be able to text and send multimedia messages to 9-1-1 emergency call centers under a new plan from the U.S. Ferderal Communications Commission (FCC).

FCC Chairman Julius Genachowski unveiled a plan on Wednesday to help emergency response communications catch up to technically advanced mobile devices.

"It's hard to imagine that airlines can send text messages if your flight is delayed, but you can't send a text message to 9-1-1 in an emergency," Genachowski said.

LightSquared blames GPS industry for interference

The GPS industry’s failure to comply with the Department of Defense’s (DoD) filtering standards is the root cause of potential interference issues involving LightSquared’s proposed broadband wireless network, according to a letter filed to the U.S. Federal Communications Commision (FCC) Thursday by Jeffery Carlisle, executive vice president for regulatory affairs and public policy at LightSquared (Reston, Va., U.S.A.).

Vodafone sells stake in India to suit ownership rules

Reuters

Vodafone (London, England) announced on Wednesday a deal in which Piramal Healthcare will buy 5.5% of its mobile business in India for $640 million, to keep the British company within the foreign ownership rules. A spokesman for Vodafone said the healthcare company had recently made a host of disposals and was looking for an investment.

T-Mobile reports Q2 results, loses 50,000 customers

Deutsche Telekom (Bonn, Germany) holding company T-Mobile USA released its second quarter results last week and reports losing 50,000 customers in the second quarter. The company reported a loss of 99,000 customers the first quarter, and 93,000 in the year-ago quarter.

T-Mobile USA served 33.6 million customers at the end of this quarter, according to the company.

Telefonica sees decline in first-half profit, to cut 20% of jobs

Reuters

Telefonica SA (Madrid, Spain), one of Europe’s largest telecoms company, suffered a decline in first-half profit as consumers switched to cheaper providers and regulators pushed tariffs lower.

While lucrative smartphone growth drove a continued boom in Brazil, the business turned in a lackluster performance in its home market of Spain, and also in Britain, Mexico and Venezuela. Some analysts noted a risk to Telefonica's A- credit rating.

Deutsche, France Telecom to pay $126 million for Slovak license extension

Reuters

Telecommunication companies Deutsche Telekom (Bonn, Germany) and France Telecom (Paris, France) have to pay a total $126 million for a 10-year license extension of their Slovak units, the Slovak telecommunication regulator said on Wednesday.

France Telecom, running Slovensko Orange -- Slovakia's largest mobile and internet services provider in terms of number of clients -- will pay $57.7 million.

Deutsche Telekom will pay $67.9 million for its T-Mobile Slovensko unit's licence.

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