Gulf telecom operator Etisalat has secured shareholder approval for the financing package to back its bid for Vivendi's 53 percent stake in Maroc Telecom, according to two people familiar with the matter.
Etisalat (Abu Dhabi, United Arab Emirates) is vying with its regional rival, Qatar-backed Ooredoo (Doha), for control of the biggest fixed and mobile operator in the kingdom of Morocco.
Media-and-telecom conglomerate Vivendi (Paris, France) is selling the unit as part of a portfolio revamp aimed at reducing telecom exposure to focus more on media.
Deutsche Telekom is mulling two acquisitions in Eastern Europe as it looks to reinvigorate operations in a region beset by regulatory and economic challenges, according to a report from Dow Jones Newswires.
Citing sources familiar with the matter, Dow Jones claims the German incumbent is pursuing a takeover of GTS Central Europe (Warsaw, Poland), a broadband optical and IP network provider.
Currently owned by a group of financial investors, Deutsche Telekom (Bonn, Germany) is said to be in discussions to pay around €600 million ($775.7 million) for the asset.
Crest Financial, an investor in Clearwire Corp, said on Tuesday that the voting threshold for approval of Sprint Nextel Corp's purchase of Clearwire should exclude strategic investors such as Comcast Corp and Intel.
Sprint (Overland Park, KS, USA), Clearwire's majority owner, needs approval from more than 50 percent of Clearwire's minority shareholders in order to go ahead with its proposed $3.40-per-share purchase of the rest of Clearwire (Bellevue, WA, USA).
Cisco Systems Inc, the world's leading network equipment maker, will try to convince Europe's second highest court on Wednesday that it should overturn the EU's approval of Microsoft's purchase of Skype.
If Cisco (San Jose, CA, USA) wins the challenge at the Luxembourg-based general court, the European Commission would have to annul its decision, which allowed Microsoft (Seattle, WA, USA) to buy the Internet video and voice company without having to make any concessions.
Shareholders of France Telecom have voted in favor of changing the operator’s name to Orange, the brand it already uses across its commercial operations.
The name change is to come into effect on July 1 and is described by the company as a “natural step in the process towards the simplification and unity of the Group’s activities”.
The former state-owned monopoly says it has been working on simplifying its visual identity in France and other markets since 2006, with fixed, mobile, internet and TV services all now offered under the Orange brand.
India’s Sistema Shyam Teleservices (SSTL) saw its net loss widen to INR6.4 billion ($115 million) in the first quarter of 2013, from INR5.3 billion a year earlier, after license revocations forced the operator to shut down much of its business.
Owned by Russia’s Sistema (Moscow), the parent of Russian mobile-phone operator MTS, SSTL (New Delhi, India) reported a 14% drop in revenues, to INR3.5 billion, after closing networks in 13 of India’s telecoms circles.
Spain’s Telefonica and Russia’s MegaFon have announced details of a new strategic partnership designed to lower operating costs and spur innovation.
The deal brings together Spain’s former state-owned monopoly and the third-biggest mobile-phone operator in Russia, behind MTS (Moscow, Russia) and VimpelCom (Amsterdam, Netherlands), and will see the two companies team up on procurement to lower the cost of equipment purchases and also exchange technological know-how.
Gulf telecom operator Etisalat has offered a higher price for Vivendi's Maroc Telecom stake than rival Qatari bidder Ooredoo, according to two people familiar with the matter.
Etisalat's bid needs further work, however, and has more legal conditions than Ooredoo's offer, so Vivendi (Paris, France) has not yet made a final choice, the people said.
"If Etisalat [Abu Dhabi, United Arab Emirates] cleans up its offer, then it wins," said one of the sources, who is close to the process. "If not, it will go to Qatar, who also made an offer that Vivendi can accept."
Google Inc intends to finance, build and help operate wireless networks from sub-Saharan Africa to Southeast Asia, hoping to connect a billion or so people in emerging countries to the Internet, the Wall Street Journal reported on Friday.
The Internet search giant - which has for years espoused universal Web access - is employing a patchwork quilt of technologies and holding discussions with regulators from South Africa to Kenya, the WSJ cited people familiar with the strategy as saying.
China's Huawei Technologies Co's Middle East revenue rose 18 percent to $2.08 billion in 2012 and the roll-out of 4G mobile networks and IT outsourcing will be among its main regional growth drivers, the firm said.
The world's second-largest telecom equipment maker also expects Middle East telecom operators to prioritize improving network efficiency, Shi Yaohong, president of Huawei Middle East, told Reuters in an email.