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 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.
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.
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 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.
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).
NTT Communications Corp said it will gain control of two U.S. cloud computing firms in takeover deals worth a combined 85.5 billion yen ($880 million), as Japanese firms ramp up efforts to improve overseas networks through acquisitions.
The unlisted long-distance and overseas calling unit of Nippon Telegraph and Telephone Corp (Tokyo, Japan) will buy Virtela Technology Services Inc (Greenwood Village, CO, USA), which provides communications services to corporations, and acquire an 80 percent stake in RagingWire Data Centers (Sacramento, CA, USA).
French telecoms incumbent Orange has reported a slump in earnings and revenues for the three months ending September, with regulation and competition weighing heavily on the operator in its economically challenged European heartlands.
The operator witnessed a 4% drop in revenues, to €10.16 billion ($14 billion), and saw restated earnings before interest, taxation, depreciation and amortization (EBITDA) fall by 7%, to €3.37 billion, in its third quarter.
Network equipment maker Juniper Networks has flagged a nearly six-fold increase in profits for the three months ending September on signs of improving demand for its products.
The company – which competes against Cisco in the market for internet routers and switches – said net income for its third quarter rose to $99.1 million, from just $16.8 million in the same period last year, with revenues up by 6%, to $1.19 billion.
Telekom Austria may have to risk its credit rating, which it said earlier this year was its top priority, to raise debt for a costly frequency auction, its chief executive said.
The company said late on Monday it would pay 1.03 billion euros ($1.41 billion) to buy half the spectrum on offer in an auction for Austrian fourth-generation frequencies, almost three times as much as most analysts had expected.