Saudi Arabia's No.2 mobile company Etihad Etisalat <7020.SE> (Mobily) is in talks to buy a stake in loss-making fixed-line operator Etihad Atheeb <7040.SE>, according to a statement on the kingdom's bourse.
The two firms have entered non-binding talks for a Mobily (Riyadh, Saudi Arabia) subsidiary to buy a stake in Atheeb (Riyadh, Saudi Arabia), according to the statement, which sets a June 30 deadline to announce "relevant developments".
This did not state what size stake Mobily was seeking or who the potential sellers are.
Revenues may be declining and customers disappearing for phone companies in recession-hit Spain, but that has not stopped Jaime Bustillo from launching a new mobile operator in the depths of a downturn that has left 27 percent of the workforce unemployed.
Bustillo, who used to work for Spain's second-biggest operator Vodafone (Alcobendas, Spain), established Airis Mobile in May as an arm of low-cost technology firm Airis and hopes to attract 50,000 mobile customers in a year.
Indian software giant Wipro has made a $5 million investment in Axeda in exchange for a minority stake in the M2M platform provider, the size of which has not been disclosed.
The Indian firm says it wants to capitalize on the rapid growth in the M2M market and plans to develop new enterprise applications in partnership with Axeda (Foxboro, MA, USA).
Spain’s Telefonica is considering whether to sell its Irish subsidiary as a means of reducing debts, according to a report from the Financial Times.
Citing a source familiar with the situation, the newspaper reports that Telefonica (Madrid, Spain) has received expressions of interest in O2 Ireland and is considering the offers.
A deal could generate as much as €700 million ($911 million) for the Spanish operator, according to the report.
Vodafone looks set to increase capital expenditure on its UK network by more than 50% this year as it rolls out new 4G networks, according to the UK’s Financial Times.
The operator won spectrum allowing it to deploy the next-generation mobile-phone technology in a government auction in February, spending a total of £802.8m on frequencies in the 800MHz and 2.6GHz spectrum bands, but was recently reported to have delayed the launch of commercial 4G services until the end of the summer from an original target of May or June.
The credit impact on Telecom Italia of spinning off its fixed-line network depends on the details of the agreement the Italian incumbent strikes with the country’s regulatory authorities, according to Fitch Ratings.
In a statement published this week, the ratings agency says there would be a strategic advantage in maintaining control of the network, especially as there is no infrastructure-based competition from cable companies in Italy.
Russian investment group Altimo has said it has no intention of embarking on a second attempt to buy out minority shareholders in Orascom Telecom, after Egyptian financial authorities scuppered its efforts to reopen the original tender.
Altimo (Moscow, Russia) indirectly owns 24.85% of Orascom Telecom (Cairo, Egypt) through its 47.85% stake in VimpelCom (Amsterdam, Netherlands), the Egyptian company’s majority owner.
Rogers Communications Inc and Quebecor Inc's Videotron wireless arm plan to build and operate a shared high-speed wireless network in and around Québec, a cost-saving arrangement that is expected to stoke competition in the French-speaking Canadian province.
Rogers (Toronto, Canada), the nation's largest wireless provider, now spends far more on its network than its main rivals, Telus Corp (Burnaby, Canada) and BCE Inc's Bell (Montreal, Canada) unit, do on their shared network.
Indian authorities dismissed Nokia's appeals over an income tax demand of 20.8 billion Indian rupees ($370 million), the phone company said, a setback for its efforts to resolve the dispute in a crucial market.
Nokia's (Helsinki, Finland) India unit was served in March with the tax demand for five years starting from 2006/07, in one of several tax disputes involving a foreign company in India.
The Finnish phone company said on Friday that it will examine all options, including taking the case back to the Delhi High Court. ($1 = 56.2450 Indian rupees)
Sprint Nextel Corp and Japan's SoftBank Corp have reached an agreement with U.S. authorities on the national security aspects of the Japanese firm's pending $20.1 billion deal to win control of the U.S. wireless carrier, people familiar with the matter said.
As a part of that agreement, the U.S. government will have a veto over new equipment purchases by Sprint in certain circumstances if the two companies merge, one source said.