Qatar’s Qtel has made a $2.2 billion offer for the 47.5% share of Kuwait’s Wataniya it does not already own.
The operator says it has already won the approval of Kuwait’s Capital Markets Authority for the deal.
The announcement comes just two months after Qtel doubled its stake in Iraq’s Asiacell to 60% for $1.47 billion.
Backed by the cash-rich Qatari state, Qtel is increasing its holdings in fast-growing businesses at a time when other big telecoms operators would struggle to fund deals.
Cisco Systems Inc offered little hope that dire economic conditions in Europe would come to an end any time soon but pleased investors with a 75 percent dividend hike as the company posted quarterly results that beat estimates.
The world's largest network equipment maker had spooked investors three months ago, when Chief Executive John Chambers cautioned that macroeconomic conditions in Europe could hurt technology spending but now analysts expect Chambers to remain cautious.
Thai mobile operator AIS has reported impressive gains in profit and revenues thanks to surging demand for mobile data services, continued growth in its voice business and lower amortization costs.
For the second quarter of the year, AIS saw a 43% increase in net income, compared with the same period last year, to 8.7 billion baht ($277 million), while revenues grew by 12%, to 26.7 billion baht.
Indian operator Reliance Communications has reported a 3.2% increase in second-quarter net income, to 1.62 billion rupees ($29 million), compared with the same period last year.
The results missed expectations based on a poll of 18 analysts conducted by Bloomberg that produced a median forecast of 1.84 billion rupees. Yet it was higher than a similar poll of 12 analysts, conducted by Dow Jones Newswires, that came up with a figure of 1.49 billion rupees.
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With overseas investors prepared to inject liquidity into ailing European operators, M&A is back on the menu.
Deutsche Telekom, the largest telecoms operator in Europe, has reported an impressive 76.4% year-on-year increase in second-quarter net profit, to €614 million ($755 million), after taking further steps to reduce its costs.
Germany’s former state-owned monopoly reported only a 0.7% dip in revenues, to €14.38 billion, despite the financial headwinds still sweeping Europe.
Even before the onset of the euro crisis, the operator had been contending with fixed-line losses at home, tough competition in Europe’s mobile-phone markets and unsympathetic regulation in the EU.
Radical cost-cutting measures drove OTE’s second-quarter net income up by 65%, to €104.5 million ($128.6 million), compared with the same period last year, as the Greek telecoms incumbent warned of tough times ahead.
The operator is facing challenging economic conditions as Europe’s financial crisis rumbles on, and its revenue decline of 5.2%, to €1.1 billion, was less than some commentators had feared.
Singaporean operator StarHub has reported an impressive 11% rise in profit thanks to revenue growth across all of its operations and a boost from its broadcast of Euro 2012 football matches in the summer.
The company’s second-quarter net income rose to S$87 million ($69.8 million), from around S$78 million in the same period last year, while revenues grew by 4% to S$591 million.
StarHub reported revenue growth at each of its mobile, pay TV, broadband and fixed network divisions, but enjoyed particular success in broadcasting.
Sierra Wireless (Richmond, Canada) has reported impressive top-line gains and profits on the back of its growing M2M business and sales of 4G products.
The vendor—which makes modems, routers and gateways and develops software and services for wireless applications—reported a 19.7% year-on-year increase in revenues, to $167.4 million, for the second quarter of 2012.
Net earnings, meanwhile, came in at $3.58 million, compared with a loss of $6.77 million for the same period last year.
Novatel Wireless (San Diego, USA) has reported a 13% year-on-year fall in second-quarter revenues, to $102.4 million, while the company’s net loss rose to $4.5 million from $3.9 million this time last year.
The maker of USB modems, embedded modules and smart M2M modules blamed the impact of competing products for the sales decline.