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.
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.
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.
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 (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.
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 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.
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.
Earlier this month, T-Mobile announced that it will soon launch a new service that will enable customers to purchase digital content using their smartphone, PC, or tablet and bill it to their phone accounts. According to Consumer Union (New York), a testing and information organization, T-Mobile's announcement is the latest development in emerging mobile payment services that raises concerns about whether consumers will be protected from fraud or merchant mistakes.
Almost half the workers in Verizon Communications' (New York) wireline telecommunications business went on strike on Sunday as negotiations for a new labor contract failed.
The strike, involving 45,000 workers, is the first walk-out that Verizon, one of the two big U.S. telephone network operators, has faced since 2000, when about 80,000 workers went on strike for about three weeks.