Financial

Leap shareholders approve AT&T takeover

Leap Wireless shareholders have given their seal of approval to a $1.2 billion takeover of the company by mobile giant AT&T.

According to the company’s press release, more than 99% of votes cast were in favor of the transaction, which will boost AT&T’s (Dallas, TX, USA) position in the US prepaid market besides shoring up its spectrum holdings.

Vodafone rises on report of AT&T takeover interest

Reuters

Shares in Vodafone Group rose on Friday after a media report that U.S. mobile operator AT&T was exploring strategies for a potential takeover of the British telecoms firm.

AT&T (Dallas, TX, USA) Chief Executive Randall Stephenson has said there is a "huge opportunity" to invest in mobile broadband in Europe and he would buy wireless assets if they were available at the right price.

Saudi Telecom reports 73% profit rise in third quarter

Saudi Telecom has flagged a sharp increase in quarterly profits thanks to the implementation of new cost-cutting measures, and says it is considering the sale of further assets to improve its fiscal position.

The Saudi Arabian incumbent reported a 73% increase in net income for the third quarter, to SAR3.39 billion ($904 million), compared with the same period a year earlier, while revenues for the first nine months of the year edged up by 2.5%, to SAR34.3 billion.

Hrvatski Telekom hit by economic woes, EU accession

Croatia’s Hrvatski Telekom has reported a slump in revenues and profits for the three months ending September, with the country’s beleaguered economy taking a heavy toll on earnings performance.

Majority owned by Germany’s Deutsche Telekom (Bonn), the Croatian incumbent flagged a 32.1% drop in net income, to HRK394 million ($71.22 million), and said revenues fell by HRK1.77 billion, compared with the same period the year before.

Vodafone seeking full control of India unit: report

UK-headquartered mobile operator Vodafone is reported to be seeking approval from authorities to take full control of its India business, in which it currently holds a stake of 64.4%.

According to a report from Dow Jones, the operator has sought permission from India’s Foreign Investment Protection Board to buy remaining shares in the company in a deal likely to cost around $1.65 billion.

Bharti Airtel's operating performance boosts outlook

Reuters

Bharti Airtel Ltd's better-than-expected operating performance and higher margins reinforced expectations that India's long-suffering mobile phone services market is turning the corner even as the market leader reported its 15th consecutive quarter of declining profit.

Bharti (New Delhi, India) shares were trading up 3.5 percent at 353.70 rupees in morning trade after rising as much as 5.5 percent in a Mumbai market that was up 0.2 percent.

Gemalto revenues boosted by improving M2M demand

M2M and digital security specialist Gemalto has flagged a double-digit revenue increase for the three months ending September, citing improving demand for its range of M2M products and services in both the Americas and Europe.

The company announced a 10% increase in sales, to €596 million ($820 million), compared with the third quarter of 2012, with revenues up across all of its main divisions.

Numericable unveils plans for initial public offering: report

France’s Numericable is reported to have announced plans for an initial public offering valuing the cable company at some €5.57 billion ($7.69 billion).

According to a report from Dow Jones Newswires, the operator plans to raise around €652.5 million in new capital, including €250 million from a capital increase.

Meanwhile, private-equity owners Carlyle and Cinven are looking to sell another €402.2 million as part of the offering, which would give Numericable (Paris, France) an enterprise value of between €5.06 billion and €5.57 billion, including €2.75 billion in debt.

China Mobile flags profits boost on iPhone popularity

China Telecom has beaten earnings expectations for the nine months ending September, flagging growth in revenues and profits thanks to surging consumer interest in the iPhone and mobile data services.

The smallest of China’s three national mobile operators, the company said revenues were up by 13.4%, to RMB238 billion ($39 billion), compared with the same period last year, while net income rose by 17.1%, to RMB14.8 billion.

America Movil shares sink, European strategy up in air

Reuters

Shares in America Movil fell nearly 3 percent on Friday after Latin America's biggest phone company reported a sharply lower profit and on concerns over the investment strategy of billionaire Carlos Slim's flagship company.

On a conference call on Friday, a day after the company released quarterly earnings, analysts repeatedly asked questions about America Movil's (Mexico City, Mexico) plans in Europe. The company announced last week it would not proceed with a planned offer for Dutch phone company KPN (The Hague, Netherlands).

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