Telecom Italia chief executive Franco Bernabe is planning on tendering his resignation at a board meeting scheduled for later this week, reports Bloomberg.
The boss of Italy’s biggest phone company has reportedly lost the support of Telco, the Telefonica-controlled consortium that holds a 22.4% stake in Telecom Italia (Milan, Italy), after clashing with shareholders over the operator’s strategy.
America Movil has shifted the timing of its planned takeover of Dutch incumbent KPN to October from September, as negotiations over the acquisition drag on, according to a report from Dow Jones Newswires.
The Latin American telecoms giant – owned by Mexican billionaire Carlos Slim – announced plans for a €7.2 billion takeover of KPN (The Hague, Netherlands) in August, but it has subsequently run into opposition from an independent foundation set up to protect the interests of the Dutch incumbent.
Norwegian telecoms group Telenor entered the online classifieds market on Monday, taking a stake in a Southeast Asian venture and establishing a South American business, it said in a statement.
Telenor (Fornebu, Norway) will take a 33.3 percent stake in Southeast Asia focused 701 Search, an existing venture between Singapore Press Holdings and Norwegian publishing house Schibsted, and agreed to establish a 50/50 joint venture with Schibsted to create SnT Classifieds with a focus on South America.
Exclusive talks for Etisalat to buy Vivendi's 53 percent stake in Maroc Telecom have been extended to October 31, the United Arab Emirates' former telecom monopoly said on Sunday.
Vivendi (Paris, France) in July entered into exclusive negotiations with Etisalat (Abu Dhabi, United Arab Emirates) - the UAE's No.1 telecom operator - to sell its majority holding stake in Maroc Telecom (Rabat, Morocco) for 3.9 billion euros ($5.28 billion) in cash.
Ntelos Holdings says it has reached a settlement with Sprint over disputes related to a strategic network alliance (SNA) between the two operators.
Under a deal dating back to 1999, Ntelos (Waynesboro, VA, USA) provides PCS services on a wholesale basis to Sprint (Overland Park, KS, USA) customers in parts of western Virginia and West Virginia, but in the last year or two the companies have fallen out over billing, among other issues.
Although terms of the agreement were not disclosed, Ntelos described it as a satisfactory outcome for both companies.
Spanish telecoms group Telefonica has struck a deal to gradually secure control of Telecom Italia and its lucrative South American business without having to launch a full takeover bid.
The multi-part 860 million euro ($1.2 billion) cash and shares deal secured on Tuesday will allow Telefonica (Madrid, Spain) to raise its stake in Telco, the holding company controlling about 22 percent of Telecom Italia (Milan, Italy), allowing Telco's other investors, Intesa Sanpaolo (Turin, Italy), Generali (Trieste, Italy) and Mediobanca (Milan, Italy) to eventually bow out.
Megafon, Russia's second-largest mobile phone company, may start up a bank to capitalize on growing interest among consumers in managing their finances on-the-go and to cross-sell services to existing customers.
Russian mobile operators, trying to boost profits in a maturing market, have been searching for avenues to earn more from their subscriber base.
Megafon (Moscow, Russia) would be following Russia's top mobile phone operator MTS (Moscow, Russia), which this year bought a stake in a bank from its parent company Sistema (Moscow, Russia).
AT&T Inc Chief Executive Randall Stephenson said on Tuesday his company would buy wireless assets in Europe if there were available at the right price.
Stephenson declined to comment on potential deals during an appearance at the Goldman Sachs Communacopia conference. The executive said European operators were far behind the United states in investments in wireless broadband, mainly because regulatory policies regarding spectrum licenses discouraged investments in the region.
But he said when the policies change, broadband investments should take off.
The boss of French mobile operator SFR has said the company does not have to merge with a rival to remain a viable business, according to French publication le Journal du Dimanche.
Chief executive Jean-Yves Charlier is reported to have said the operator could continue to executive its strategy as a standalone player.
SFR (Paris, France) is a subsidiary of French telecoms and media conglomerate Vivendi (Paris, France), which has recently appeared intent on divesting itself of various telecoms assets and focusing on its core media interests.
European Union (EU) authorities have approved Vodafone’s €7.7 billion ($10.4 billion) takeover of Kabel Deutschland, clearing the way for a deal aimed at creating a player that can stand up to incumbent Deutsche Telekom in the market for so-called multi-play offerings.
“The Commission’s investigation confirmed that the activities of the merging parties were mainly complementary,” said the European Commission in a statement.