Financial

Portugal Telecom hit by forex weakness, domestic sales decline

Portugal Telecom has reported drops in revenue and earnings for the three months ending September due to the weakness of the Brazilian real and a slump in domestic sales.

The Portuguese incumbent flagged an 11.3% fall in operating revenues, to €1.45 billion ($1.95 billion), and said net income plummeted by 66.4%, to just €21 million, between the third quarters of 2012 and 2013.

Portugal Telecom (Lisbon, Portugal) said its performance in its domestic market continued to be affected by intense competition and poor macroeconomic conditions.

Barclay's Kheradpir to succeed Johnson as Juniper CEO

Network equipment maker Juniper Networks says Barclays executive Shaygan Kheradpir will take over from Kevin Johnson as chief executive at the start of 2014.

Johnson had announced plans to retire in July, having led the company since 2008, when he joined from software giant Microsoft (Seattle, WA, USA).

Kheradpir is currently chief operations and technology officer at financial services provider Barclays (London, UK), and before that he worked as executive vice president and chief information and technology officer at Verizon Communications (New York City, NY, USA).

T-Mobile considering buying spectrum from private party

Reuters

T-Mobile US Inc is considering buying spectrum from an unidentified private party and would use some of the proceeds of a planned $2 billion share offering to finance such a deal, the company said in a regulatory filing on Tuesday.

On Monday, after the market close, the company announced an offering of up to roughly 72 million shares and said it could buy wireless airwaves using proceeds from the sale. The share sale could represent the fourth biggest secondary offering so far this year, according to Reuters data.

Vodafone to ramp up investment as trading suffers

Reuters

Britain's Vodafone will spend 7 billion pounds - more than expected and earlier than expected - to increase the speed and coverage of its networks and reverse a record fall in revenues resulting from its struggling European business.

The world's second-largest mobile operator, which is using some of the proceeds from the $130 billion sale of its U.S. arm to upgrade its infrastructure, said it would spend 3 billion pounds in Europe, 1.5 billion in its emerging markets and the rest on fixed-line assets, enterprise and its retail arm.

Novatel Wireless narrows quarterly loss on M2M progress

Module maker Novatel Wireless has flagged a substantial increase in revenues and narrowing of its net loss for the three months ending September thanks to good progress at both its mobile computing and M2M businesses.

The company said revenue rose by 30.5%, to $92.7 million, compared with the same period last year, while net losses narrowed to $5.1 million from $32 million in the same period of 2012.

Deutsche Telekom agrees 546 million euros takeover of GTS Central Europe

Germany’s Deutsche Telekom has announced a €546 million ($731 million) takeover of GTS Central Europe aimed at allowing it to provide fixed-line services in parts of central Europe where it is currently a ‘mobile-only’ player.

The German incumbent said the takeover would also allow it to provide cross-border services to business customers – addressing an important pillar of its strategy for European regeneration.

Vodacom revenues up 6.6% on customer growth, data explosion

South Africa’s Vodacom has reported a rise in revenues and earnings over the first six months of the year on the back of growth at its international operations and improved trends in its domestic market.

Majority owned by the UK’s Vodafone (Newbury), the operator said revenues were up by 6.6%, to ZAR36.7 billion ($3.55 billion), compared with the same period in 2012, while earnings before interest, taxation, depreciation and amortization rose by 9.6%, to ZAR13.2 billion, over the same period.

Liberty Global revenues boosted by Virgin Media takeover

Cable company Liberty Global has reported widening losses due to derivative instruments plus higher interest and tax expenses, while the company’s revenues have received a major boost from its acquisition of UK operator Virgin Media earlier this year.

For the three months ending September, the company saw its net loss grow to $830 million from just $22 million in the same period last year.

Vivendi sells Maroc Telecom stake to Etisalat for 4.2 billion euros

French telecoms and media conglomerate Vivendi says it has reached a €4.2 billion ($5.67 billion) deal with Etisalat over the sale of its 53% stake in Maroc Telecom.

The transaction still requires sign-off by regulatory authorities but Vivendi (Paris, France) is confident of concluding the sale by early 2014.

The French company describes the deal as a part of its strategy to refocus activities around media and content and away from telecoms.

T-Mobile US third quarter subscriber growth tops street estimate

Reuters

T-Mobile US Inc, the No. 4 U.S. mobile provider, reported much better-than-expected subscriber growth, outpacing bigger rival AT&T and also putting pressure on other competitors, including market leader Verizon Wireless.

This was the second straight quarter of growth after four years of customer losses at T-Mobile US (Bellevue, WA, USA), which is 74 percent owned by Deutsche Telekom AG (Bonn, Germany). It made inroads against bigger rivals by criticizing them in its marketing and selling itself as more consumer-friendly with cheaper prices and more flexibility.

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