VimpelCom has agreed to sell two businesses in Africa and decided to bid for control of Pakistan’s Warid Telecom, according to banking sources cited by Reuters.
The operator, which runs businesses in Russia, Italy and across a number of emerging markets, is reportedly to sell Telecel Global, which operates in Burundi and the Central African Republic, to Neil Telecom, an operator focused on emerging markets and owned by Laurent Foucher, an African investor.
Sources have told Reuters that the deal is subject to regulatory approval.
America Movil has terminated a “relationship agreement” with KPN that will now allow it to increase its stake in the Dutch operator to 30% or more.
The Latin American telecoms giant currently owns just less than 30% of KPN (The Hague, Netherlands) and until now was prohibited from increasing its stake in the operator under the agreement.
According to a clause in that agreement, however, the ownership restriction would cease to apply if KPN or a KPN subsidiary agreed to a takeover offer from another party.
Kuwait-based Zain has reported a 20% drop in net income for the first half of the year, to KWD113 million ($397.4 million), with adverse currency movements in Sudan largely to blame for the setback.
The company, which owns telecoms businesses across the Middle East and parts of Africa, also reported an 8% fall in revenue, to KWD612 million.
Canadian telecoms giant Bell Canada has issued a strongly worded statement in which it urges authorities to close loopholes in federal regulations that it claims hand a big advantage to US operators like Verizon Wireless.
According to the operator, legislation designed to aid smaller new entrants allows big US operators to gain access to spectrum denied the Canadian incumbents.
T-Mobile US Inc, the No. 4 U.S. mobile service provider, said on Thursday that its MetroPCS prepaid wireless business has doubled the number of markets where it operates, putting it head-to-head against smaller rival Leap Wireless in many of its new markets.
Both Leap (San Diego, CA, USA), which agreed to be bought by No 2 U.S. mobile service provider AT&T Inc (Dallas, TX, USA), and MetroPCS (Richardson, TX, USA), which merged with T-Mobile (Bellevue, WA, USA) less than three months ago, target cost-conscious customers who pay for calls in advance.
BlackBerry Ltd has laid off about 250 of its employees at its headquarters in Waterloo, Ontario, as part of its latest move to trim costs, the smartphone maker said on Thursday.
"This is part of the next stage of our turnaround plan to increase efficiencies and scale our company," a BlackBerry (Waterloo, Canada) spokeswoman said.
The company, which last year cut thousands of jobs, recently hinted that more reductions were in the offing.
Last month, BlackBerry reported dismal quarterly results, which triggered a 28 percent plunge in its share price.
AT&T has reported a 2.1% drop in net income for the three months ending June 2013, to $3.82 billion, as rising costs ate into its revenues.
The telecoms giant flagged a 1.6% increase in consolidated revenues, to $32.1 billion, thanks to strong sales of wireless products including smartphones and mobile data plans.
The company boasted net contract additions in its postpaid wireless business of 551,000, up from just 296,000 in the three months ending March and 320,000 a year earlier, and said the performance was its best in a second quarter in four years.
Spanish operator Telefonica has agreed an €8.1 billion ($10.7 billion) takeover of E-Plus, the German mobile operator owned by KPN of the Netherlands.
By merging E-Plus with its own German subsidiary, Telefonica (Madrid, Spain) expects to become the largest operator in the country, overtaking both Deutsche Telekom (Bonn, Germany) and Vodafone (Dusseldorf, Germany).
The transaction is to be financed through a mixture of cash and stock in two phases but includes a total cash payment of €5 billion and a stake in the resulting company of 17.6%.
Huawei Technologies Co Ltd, the world's second largest telecom equipment maker, said on Wednesday it was on track to achieve 10 percent revenue growth in 2013 after posting a 10.8 percent increase in first-half sales.
Huawei (Shenzhen, China) also said it expected to generate a net profit margin of 7-8 percent in 2013, compared with about 7 percent in 2012, according to Reuters' calculations. The company did not give other figures in its brief statement.
Cisco Systems Inc said on Tuesday it plans to purchase cybersecurity company Sourcefire Inc for $2.7 billion, a deal that analysts say should spark more acquisitions in the industry as large vendors seek to profit from growing demand for IT security.
Cisco (San Jose, CA, USA), which has been seeking targets to boost its network security business, said it will pay $76 per share in cash for Sourcefire (Columbia, MD, USA), a premium of 28.6 percent over its closing price on Monday of $59.08.