WASHINGTON/MEXICO CITY (Reuters) - AT&T Inc agreed to pay $1.7 billion to acquire Mexico's third-largest wireless operator, Iusacell, as it seeks to grab a slice of a market with lower cellular penetration than the United States and faster potential growth.
Mexico's government earlier this year implemented reforms to shake up its telecom and broadcast market by weakening the dominance of broadcaster Grupo Televisa and billionaire Carlos Slim's cellphone and fixed-line company America Movil.
(Reuters) - DirecTV, the No.1 U.S. satellite TV provider, reported a quarterly profit above analysts' expectations as it earned more from each subscriber in the United States.
But the company, being bought by AT&T Inc for $48.5 billion, lost subscribers for the second quarter in a row to competitors, including cable companies that offer broadband along with video at a discount.
WASHINGTON (Reuters) - When Marcelo Claure took the top job at Sprint Corp two months ago, he faced an uphill climb in turning around the No. 3 U.S. cellular provider. On Monday, it became clear quite how steep that road to recovery will be.
The Bolivian entrepreneur, who was installed as CEO after the collapse of merger talks with T-Mobile US Inc, already faced the task of stemming growing subscriber defections as the company seeks to upgrade its subpar network.
DUBAI (Reuters) - Nigerian phone tower group IHS has raised $2 billion in equity and $600 million in debt in what it says is the biggest equity fund raising by an African company this decade.
IHS, the continent’s largest tower company, will use the money to finance infrastructure spending and recently agreed acquisitions, according to a company statement on Monday.
It said the equity funding was from new and existing shareholders, but did not provide further details.
SAO PAULO/MILAN (Reuters) - Brazil's Grupo Oi SA, Mexico's America Movil SAB and Spain's Telefonica SA agreed to place a joint bid worth around 32 billion reais ($13 billion) for TIM Participações SA, two sources with direct knowledge of the matter said on Friday.
The companies agreed to present a single offer to minority shareholders and Telecom Italia SpA, which owns about 67 percent of TIM Participações, Brazil's No. 2 wireless carrier, said the first source, who requested anonymity as the deal is still in the works.
STOCKHOLM (Reuters) - Mobile telecoms gear maker Ericsson said on Friday a slowdown in North America created uncertainty over fourth quarter sales as operators cut spending after big investments in high-speed networks.
A build-out of the newest 4G/LTE networks by operators in North America, where Ericsson makes about a quarter of its sales and Chinese rival Huawei is effectively barred from doing business, has supported the Swedish firm at a time of stagnation in much of Europe.
BEIJING (Reuters) - Quarterly revenue at China Mobile Ltd fell year-over-year for the first time since at least 2009 as China's largest telecom provider continued to stumble in the face of rising competition from popular Internet-based messaging apps.
The 6th TMT Finance & Investment Asia event will take place in Singapore on January 28 with a new expanded programme featuring 20 sessions on Telecom, Media and Digital Technology Investment Strategy for Asia.
PARIS (Reuters) - Relieved investors sent shares in French low-cost telecom operator Iliad up 11 percent on Tuesday after it abandoned an effort to buy the fourth-largest U.S. carrier T-Mobile.
Backed by billionaire founder Xavier Niel, Iliad made an initial bid worth $15 billion and then raised it further, but was rebuffed by T-Mobile US' parent company, Deutsche Telekom. Sources told Reuters Deutsche Telekom was unconvinced by the price and by Niel's ability to run the business better than its own managers could.
(Reuters) - U.S. healthcare technology group Danaher Corp is combining its communications unit with NetScout Systems Inc, scaling up the business at a time when companies are spending aggressively on cybersecurity.
Danaher shareholders will get NetScout shares worth $2.6 billion, giving them majority stake in the company, while NetScout will have operational control.
Danaher's communications business sells cybersecurity products and tools to manage networks, while NetScout makes products that monitor software applications on networks.