Three hedge funds who tendered shares enabling Vodafone to successfully bid for Germany's largest cable firm plan to sue for a better price for their outstanding holdings, three financial sources with knowledge of the matter said on Friday.
Vodafone (Newbury UK), which wants Kabel Deutschland (Unterfoehring, Germany) in order to offer more television and fixed-line services in its largest European market, said late on Thursday it had secured more than 75 percent of shares in the company, a condition for its 7.7 billion euro ($10 billion), 87 euro-per-share, offer.
Telecom Italia's independent board member Elio Catania, who is being investigated for alleged insider trading, resigned on Friday, the company said.
In a statement, Telecom Italia (Milan, Italy) said Catania had told the company he had decided to quit so that the board's activities and the work of investigators could proceed "in an orderly manner."
In his resignation letter, Catania said he had always acted correctly.
AT&T says it has completed the acquisition of spectrum from rival operator Verizon Wireless that will help it speed up the deployment of its high-speed 4G network.
The operator has paid $1.9 billion for a swathe of 700MHz licenses covering some 42 million people in 18 states.
Besides the cash payment, AT&T (Dallas, TX, USA) has also transferred to Verizon (New York City, NY, USA) several Advanced Wireless Services (AWS) licenses covering Phoenix (AZ), Los Angeles (CA), Fresno (CA), Albuquerque (NM) and Portland (OR).
UK operator EE has reportedly won a £300 million ($473 million) deal to provide mobile-phone services to Virgin Mobile over a five-year period.
According to a report from the UK’s Financial Times newspaper, the operator secured the agreement despite strong competition from other mobile network operators and is set to make an official announcement later this week.
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.