Scandinavia’s TeliaSonera has taken a SEK0.4 billion ($61 million) hit on the sale of its 57% stake in Nepal Satellite to Zhodar Investment, blaming legal and regulatory challenges for its exit.
The operator had built up its stake in the Nepalese operator through a series of acquisitions in 2011 and 2012, hoping to strengthen its operations with a “complementary brand”.
TeliaSonera (Stockholm, Sweden) already owned a Nepalese mobile operator called Ncell, which it bought in 2008, and says it will be free to concentrate on that business following the Nepal Satellite sale.
Mexico's Senate on Tuesday approved seven nominees to head a new telecommunications regulator created by a sweeping sector overhaul that seeks to boost competition and tame billionaire Carlos Slim.
The regulator, known as Ifetel, will replace a weaker regulatory agency and have new powers to police a telecommunications market dominated by Slim's America Movil (Mexico City, Mexico) and Televisa (Mexico City, Mexico).
Cisco Systems Inc on Tuesday announced its first foray into the data storage market, saying it would pay $415 million to acquire privately held storage system maker Whiptail.
Cisco (San Jose, CA, USA) said it will pay cash and incentives for the acquisition, expected to close in the first quarter of 2014.
Whiptail, founded in 2008 and based in Whippany, New Jersey, makes storage systems based on flash memory chips, which allow data to move through servers with greater speed and efficiency as well as higher volume.
Telecoms operators are set to make a staggering $88 billion in revenue from the provision of M2M services in 2023, up from $10 billion this year, according to new research from Analysys Mason.
The market-research company reckons emerging economies will account for much of the revenue growth as applications are customized to suit local needs and technology costs fall.
It also predicts that small and medium-sized enterprises (SMEs) will grow their share of overall M2M device connections from 14.6% in 2013 to 24.6% in 2023.
Module maker Novatel Wireless is to embark on a major restructuring program including staff redundancies just weeks after reporting a widening of its losses for the second quarter of the year.
In a statement on its website, the company said it would shut down one of its development sites as well as various manufacturing and other activities.
Telit has acquired cloud-services company ILS Technology (ILST) in a move that should further strengthen its position as a provider of managed M2M services and lessen its reliance on hardware sales.
The financial terms of the takeover were not disclosed, but Telit (London, UK) said that management, engineering and support staff from ILST (Boca Raton, FL, USA) would be integrated with its own m2mAir services unit, which the company set up last year.
Vodafone urged Kabel Deutschland shareholders to accept its 7.7 billion euro ($10.1 billion) offer, warning the bid would lapse if less than three quarters of them agree to sell Germany's largest cable operator by Wednesday.
Earlier on Monday the Financial Times said the British mobile network operator may fail to reach the 75 percent acceptance threshold, citing anonymous shareholders.
Egyptian billionaire and telecoms tycoon Naguib Sawiris may be interested in acquiring a stake in Telecom Italia but remains concerned about the Italian government’s alleged preference for a deal involving Spain’s Telefonica, reports Dow Jones Newswires.
Various members of the Telco consortium, which controls 22.4% of Telecom Italia (Milan, Italy), were last week said to be interested in cashing in their shares, with Vodafone (Newbury, UK), SoftBank (Tokyo, Japan) and America Movil (Mexico City, Mexico) all cited as potential buyers.
Vodafone may fail to reach the 75 percent threshold of acceptances from shareholders needed to clinch Germany's largest cable operator Kabel Deutschland, the Financial Times said on Monday.
"Some of Kabel Deutschland's [Unterfoehring, Germany] shareholders believe that the amount of tenders offered will fall well short of this goal," the paper said, citing anonymous shareholders.
Vodafone (Newbury, UK) agreed a 7.7 billion euro ($10.13 billion) offer for Kabel Deutschland in June, a near 40 percent premium to Kabel's share price before its interest first emerged.
Dutch telecoms group KPN, the subject of a takeover bid by Mexico's America Movil, said on Monday its chief financial office Eric Hageman had resigned with immediate effect, only a year after taking the job.
The group said in a statement that Hageman was resigning due to personal circumstances and that this was not related to working relationships or the present situation of the group.
"KPN [The Hague, Netherlands] will make a further announcement regarding the CFO role as soon as possible," KPN said.