The global TMT Finance & Investment series of conferences makes its debut in Warsaw on September 25, 2013. Find out who will lead the next wave of growth and investment across the region.
Swiss incumbent Swisscom has reported a 9.7% fall in profits for the first half of 2013 due to a combination of rising subscriber acquisition costs and higher network maintenance expenses.
The operator saw net income drop from CHF907 million ($977 million) for the first half of 2012 to CHF819 million this year, with revenues edging down by 0.4%, to CHF5.62 billion.
Multinational operator VimpelCom has blamed a fall in earnings for the three months ending June 2013 on a mixture of foreign exchange movements, regulation in Italy and one-off charges.
The operator – which is now headquartered in Amsterdam but whose biggest market remains Russia – saw earnings before interest, taxation, depreciation and amortization (EBITDA) fall by 2%, to $2.43 billion, compared with the same period last year.
Globe Telecom, the Philippines’ second-biggest telecoms operator, has reported a massive fall in net income due to investments it has been forced to make in improving its network.
The operator saw net income for the first half of 2013 drop by 73%, to PHP1.4 billion ($32.1 million), despite growing revenues by 9%, to PHP44.5 billion, over the same period.
Phil Falcone's hedge fund sued satellite TV mogul Charlie Ergen and his Dish Network Corp (Meridian, CO, USA) for $4 billion on Tuesday for an alleged loan-trading scheme aimed at stripping Falcone of his control over LightSquared Inc, a bankrupt wireless communications business.
The lawsuit in the U.S. Bankruptcy Court in Manhattan was filed on Tuesday at the same time as Ergen was confirming on an earnings call with Dish investors that the company was interested in acquiring LightSquared (Reston, VA, USA).
A new Brazilian telecommunications company backed by billionaire financier George Soros plans to invest at least 500 million reais ($218 million) over the next three years, executives said on Tuesday, ramping up competition among Internet providers in a cooling market.
Soros is set to invest at least $150 million, giving him a majority stake in On Telecom, which offers home and office connections over fourth-generation (4G) cellular networks, Chief Executive Fares Nassar told journalists.
Dish Network (Meridian, CO, USA) founder and Chairman Charlie Ergen said on Tuesday that his preference would be for a network partnership in wireless and that T-Mobile US (Bellevue, WA, USA) could be his only option left as an acquisition or merger target.
"I think there's a lot of options for us in the wireless business," Ergen said in response to analyst questions on a quarterly earnings call.
(Reporting by Sinead Carew and Liana Baker; Editing by Maureen Bavdek)
M2M module maker Sierra Wireless has reported a narrowing of its net loss from continuing operations in its first quarter as a “pure-play” M2M company on the back of strong growth in revenues.
In GAAP terms, the company’s net loss from continuing operations was $6.74 million for the three months ending June 2013, compared with a loss of $8.87 million for the same period last year.
Revenues, meanwhile, grew by an impressive 14.9% over the same period, to $109.6 million.
Telecom Italia has swung to a net loss of €1.4 billion ($1.86 billion) for the first six months of 2013, compared with a net profit of €1.2 billion for the same period last year, due to goodwill write-downs totaling €2.2 billion.
Even excluding the impact of the write-downs, profits would have been 33% lower than over the first half of 2012 with sales under pressure at home and in the operator’s Latin American markets.
Revenues for the first half of the year totaled €13.76 billion, down 2.7% in organic terms compared with the first six months of 2012.
Struggling US mobile operator Leap Wireless has reported a widening of second-quarter losses owing to debt repayments and dwindling revenues as its customer base shrinks.
The operator – recently the target of a $1.2 billion takeover bid from AT&T (Dallas, TX, USA) that has yet to secure regulatory approval – saw its net loss grow to $156.4 million for the three months ending June 2013, from $46 million in the year-earlier quarter.
Revenues, meanwhile, shrank by 7% over the same period, to $731.5 million.