Verizon said on Tuesday it plans to invest $100 million in solar power and fuel cells at 19 facilities in seven U.S. states to cut its carbon footprint and make its operations more resilient to storms and other disasters.
The energy project should be complete by next year, with installations at corporate offices, call centers, data centers and central offices of the telecommunications giant in Arizona, California, Maryland, Massachusetts, New Jersey, New York and North Carolina.
Wireless service provider Leap Wireless reported on Tuesday a wider quarterly loss as revenue declined as it had more than 93,000 net customer losses in the first quarter.
Leap (San Diego, CA, USA) posted a loss attributable to common shareholders of $111.3 million, or $1.43 per share, compared with a loss of $98.4 million, or $1.28 per share, in the year-ago quarter.
Revenue fell to $789.9 million from $825.6 billion, compared with Wall Street expectations for $735.75 billion, according to Thomson Reuters I/B/E/S.
(Reporting By Sinead Carew)
Verizon Communications Inc's chances of buying the 45-percent stake in Verizon Wireless owned by the UK's Vodafone Group Plc will hinge, at least in part, on the quality of tax advice it is getting.
Verizon (New York City, NY, USA), the No. 2 U.S. telecommunications company, may have found a way to structure a purchase of the stake so that Vodafone (Newbury, UK) can avoid a multi-billion dollar U.S. capital gains tax bill, sources familiar with Verizon's plans said. The possibility of a huge tax bill has previously been regarded by analysts as a big hurdle to any such deal.
Aurelius Capital, a big shareholder in U.S. wireless service provider Clearwire Corp, filed a lawsuit against Clearwire directors and Sprint Nextel Corp over Sprint's December agreement to buy out the portion of Clearwire it does not already own.
Aurelius (New York City, NY, USA), which says it owns 17 million Clearwire (Bellevue, WA, USA) shares, said Sprint (Overland Park, KS, USA), as Clearwire's majority shareholder, had dictated "manifestly unfair" terms for its Clearwire deal, in a filing at the Court of Chancery of the State of Delaware on Friday.
Telecoms equipment maker Alcatel-Lucent has swung to a net loss of €353 million ($463 million) for the first quarter of 2013, from a net profit of €259 million in the same period last year, when its earnings were boosted by the sale of its Genesys call-center business.
The company reported a narrowing of its operating loss to €202 million, from €290 million a year ago, with revenues creeping up by 0.6%, to €3.23 billion, over the same period.
Telecom Italia is considering whether to float its fixed-line network in a move seemingly aimed at keeping it separate from a possible deal with Hutchison Whampoa, according to a report from Italy’s Il Messaggero newspaper.
The former state-owned monopoly is looking into a tie-up with Hutchison Whampoa (Hong Kong) under which it would absorb 3 Italia (Rome, Italy), the Hong Kong-based company’s Italian telecoms business, in return for giving Hutchison Whampoa a 29.9% share in Telecom Italia (Rome, Italy).
New Zealand Telecom is to ramp up its activities in the burgeoning market for cloud services following a $96.5 million ($82.5 million) takeover of infrastructure and data center specialist Revera.
The New Zealand telecoms incumbent said it would fund the acquisition through cash and existing borrowing facilities and expects the deal to close in May.
It will continue to run Revera (Auckland, New Zealand) as a standalone business, providing customers of Gen-i –New Zealand Telecom’s ICT services division – with access to additional cloud capabilities and data center capacity.
MetroPCS shareholders have given their blessing to the proposed merger of the operator with T-Mobile USA, removing the final obstacle to the deal, which is now expected to close by May 1.
According to a statement from T-Mobile USA (Bellevue, WA, USA) owner Deutsche Telekom (Bonn, Germany), a majority of MetroPCS (Richardson, TX, USA) shareholders voted in favor of the merger on Wednesday.
Investment company Crest Financial has once again lashed out at Sprint’s proposed takeover of Clearwire, urging Clearwire’s management to shun the “coercive” terms.
Crest (Cerritos, CA, USA) owns a 5.1% stake in Clearwire (Bellevue, WA, USA) and claims to be the largest shareholder that is unaligned with Sprint.
The company is vehemently opposed to the deal, which would see Sprint (Overland Park, KS, USA) acquire full control of Clearwire, and last month hired proxy-solicitation firm D.F. King & Co. (New York City, NY, USA) to help it fight the planned takeover.
France Telecom is focusing on new superfast mobile services to repair the damage done by a costly price war in its home market, which has eroded its market share and profitability.
Europe's fourth-biggest telecom operator posted a 4 percent drop in first-quarter sales on Wednesday due to mobile price cuts in France, weak corporate demand, and regulatory changes.
Operating cash flow fell 12.9 percent to 1.98 billion euros ($2.58 billion), showing how the operator's home market had become less profitable after the launch of low-cost rival Iliad (Paris, France).