Spain’s Telefonica may find it difficult to sell its Czech subsidiary to PPF Group for a satisfactory price, according to Bloomberg.
The operator this week revealed it was in discussions with the investment group, owned by Czech billionaire Petr Kellner, as it considers “strategic alternatives” for Telefonica Czech Republic, in which it currently holds a stake of about 70%.
Indian telecoms authorities have hit mobile operator Idea Cellular with a fine of INR6 billion ($97 million) for illegally merging with smaller rival Spice Communications, reports the Times of India.
According to press reports, India’s Department of Telecommunications (DoT) regarded the tie-up as a “willful” violation of certain licensing conditions preventing a telecoms company from owning more than 10% of another in the same service area.
Alcatel-Lucent's future is at risk after the telecoms company, which has been in the red since 2006, missed key technological shifts, its chief executive Michel Combes said on Tuesday as French workers protested against job cuts.
The Franco-American group last week unveiled plans to slash 10,000 jobs worldwide, including 900 in France, arguing the cuts were its last chance to stem years of losses and turn the company around.
"This company could disappear," Combes told Europe 1 radio.
Japanese tech and telecoms group SoftBank Corp is paying 150 billion yen ($1.53 billion) for a 51 percent stake in Finnish mobile game maker Supercell, valuing the small maker of hit games "Clash of Clans" and "Hay Day" at $3 billion.
Softbank's (Tokyo, Japan) bid to claim a leading role in the fast-growing mobile games market makes 3-year-old Supercell (Helsinki, Finland), with about 100 employees and just two free-to-play games, more valuable than Zynga Inc (San Francisco, CA, USA), the $2.8 billion company behind former hits such as "FarmVille."
Spanish telecoms incumbent Telefonica has acknowledged it is exploring “strategic alternatives” for its Czech subsidiary in a stock exchange filing.
The statement came in response to press speculation that Telefonica (Madrid, Spain) is planning to sell its 70% stake in Telefonica Czech Republic in a deal that could raise as much as $3.6 billion for the debt-burdened Spanish operator, based on the subsidiary’s current market value.
China's Huawei, one of the world's largest telecoms network infrastructure providers, is not planning any large takeovers because it would be unable to integrate them, Deputy Chairman Guo Ping was reported as saying in German paper Welt am Sonntag.
Ping, one of three deputy chairmen who take turns acting as chief executive, was responding to the paper's question on whether he could imagine buying one of Europe's big players in the sector, such as Nokia (Helsinki, Finland) or Alcatel-Lucent (Paris, France).
The UK’s Vodafone has completed its €7.7 billion ($10.43 billion) takeover of Kabel Deutschland, according to a statement on the German cable company’s website.
The deal puts Vodafone (Newbury, UK) in control of 76.57% of Kabel Deutschland’s (Unterfoehring, Germany) shares and will aid its push into Germany’s high-speed broadband market and allow it to better compete against telecoms incumbent Deutsche Telekom (Bonn, Germany) on bundled packages that include fixed, broadband and mobile services.
Spanish telecoms group Telefonica has started preparing the sale of its $3.6 billion stake in its listed Czech unit, three sector bankers closely following the process but not directly involved said on Monday.
Telefonica (Madrid, Spain), which aims to cut its debt to under 47 billion euros ($64 billion) by the end of the year, has sold a number of assets to pay down borrowings, including its Irish business O2.
Analysts have long tipped Telefonica Czech Republic as an asset the group might shed. Telefonica reported net debt of 49.8 billion euros in mid-year results.
Brazilian phone company TIM Participacoes SA is not up for sale, its chief executive told a local newspaper, denying reports that Telecom Italia SpA wants to sell its 67 percent stake.
A sale of Brazil's No. 2 wireless company is one option being considered by Telecom Italia's (Milan, Italy) new chief executive, Marco Patuano, a person familiar with the matter told Reuters last week. Patuano is under pressure from Telecom Italia's top shareholder, Spanish group Telefonica SA (Madrid, Spain), to cut debt through asset sales.
Leading US operator AT&T has thrown its considerable weight behind a new trade organization set up to foster the growth of M2M technology.
The operator has been unveiled as the newest member of the International M2M Council (IMC), which was formed earlier this year by a group of high-profile companies involved in the M2M industry.