Financial

PCCW to pay $2.43 billion for CSL

Hong Kong’s PCCW has announced plans to buy Telstra’s 76% stake in local rival CSL for the sum of $2.43 billion.

The deal will put PCCW (Hong Kong) in control of assets it sold more than ten years ago, reports Bloomberg, and help to reduce the level of competition in Hong Kong’s saturated phone market, where there are approximately twice as many subscriptions as people.

Huawei expects 4G revenues to double in 2014: report

Chinese telecoms equipment vendor Huawei expects annual revenues from its sale of 4G networks to double to about $4 billion between 2013 and 2014, according to a report from Reuters.

Speaking to reporters in Shanghai, David Wang, the president of Huawei’s (Shenzhen, China) wireless network business unit, also said that overall wireless revenues would hit $12.9 billion in 2014, compared with $11.7 billion in 2013.

TeliaSonera spends $72 million on fiber assets

Sweden’s TeliaSonera has announced several acquisitions aimed at boosting its presence in the country’s high-speed broadband market.

In a statement, the operator said it had spent a total of SEK473 million ($72 million) on controlling stakes in fiber players Zitius, Quadracom Networks and Riksnet.

AT&T to sell Connecticut wireline assets to Frontier for $2 billion

Reuters

AT&T Inc, the biggest U.S. phone company, said on Tuesday that it would sell its wireline operations in Connecticut to regional telephone operator Frontier Communications for $2 billion in cash, to help fund network upgrades.

Frontier (Stamford, CT, USA) shares rose more than 8 percent after it said the deal would boost its dividend payout ratio, generate savings and improve its adjusted free cash flow.

Sprint considering $20 billion bid for T-Mobile: report

US operator Sprint is readying a bid of more than $20 billion for smaller rival T-Mobile US, according to a report from Dow Jones Newswires.

Citing people familiar with the matter, the newswire says Sprint is currently studying regulatory concerns but could launch a bid in the first half of next year.

A takeover would combine the country’s third- and fourth-biggest players to create a stronger rival to market leaders AT&T (Dallas, TX, USA) and Verizon Wireless (New York City, NY, USA).

TeliaSonera restructures to improve customer focus, transparency

Scandinavian operator TeliaSonera has unveiled details of a restructuring aimed at improving its focus on customers and making it a more transparent organization from a corporate-governance perspective.

As a result of the new structure, TeliaSonera (Stockholm, Sweden) will split operations into three geographical divisions addressing needs in Europe, Eurasia and Sweden, its domestic market.

NZ government backs Chorus on funding shortfall

New Zealand’s government has sided with telecoms infrastructure player Chorus in its assessment of the impact that regulated price cuts would have on planned investment in a nationwide broadband network.

According to a government report prepared by Ernst & Young, price cuts mandated by New Zealand’s telecoms regulator for access to copper-line networks would leave Chorus (Auckland) with a funding shortfall of about NZD1 billion ($825 million) assuming it did not implement any cost-saving measures.

EE to invest $450 million in improving mobile calls

UK operator EE says it will invest £275 million ($450 million) in improving the quality and reliability of mobile calls on its 2G and 3G networks in 2014.

The funds will also be used to conduct trials of new voice technologies such as voice over LTE (VoLTE) and voice over WiFi.

Telecom Italia says no information so far from BlackRock

Reuters

Telecom Italia said on Monday it had not received any information from U.S. money manager BlackRock regarding an increase in its stake in the Italian telecoms group to 10.14 percent, as shown by U.S. regulatory filings.

A stake of 10.1 percent would make BlackRock (New York City, NY, USA) the second biggest shareholder in Telecom Italia (Milan, Italy) after holding company Telco, and give it a potentially pivotal role at a shareholder vote on Friday on whether to oust the board of the company.

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