Financial

Telenor Q3 results beat forecasts

Reuters

Norwegian telecoms firm Telenor reported third-quarter earnings ahead of forecasts on Tuesday.

Telenor (Fornebu, Norway), which has over 150 million subscribers across Europe and Asia, said earnings before interest, taxes, depreciation and amortization (EBITDA) rose 6.1 percent to 8.796 billion crowns ($1.53 billion), beating the average of forecasts for 8.54 billion crowns.

Juniper profits fall 80% due to restructuring costs

Equipment maker Juniper Networks reported an 80% decline in third-quarter net income as restructuring costs chewed into revenues that were only slightly up on 2011 results.

Net income came in at $17 million, compared with $84 million during the third quarter of 2011, while revenues rose to $1.12 billion from $1.11 billion a year earlier.

The company has been hit by a reduction in spending on network equipment, as operators lower their capital expenditure in response to the poor economic conditions.

T-Mobile asks FCC to approve MetroPCS merger

T-Mobile USA has insisted that a merger with MetroPCS would make it a stronger rival to AT&T, Verizon and Sprint without upsetting the competitive balance of the US market.

In a regulatory filing published by the Federal Communications Commission this week, the operator sought approval for its proposed tie-up with MetroPCS (Richardson, USA), the country’s fifth-biggest operator, announced earlier this month.

Mobile competition in Germany hits KPN profits

Dutch incumbent KPN reported declining profits and revenues for the third quarter, with tough competition in Germany’s mobile-phone market largely blamed for the slump.

The operator’s net income fell by 38%, to €250 million ($324 million), compared with the third quarter of 2011, while revenues dropped 3.6% to about €3.1 billion.

Qtel interested in Vivendi's Morocco business

Qtel, Qatar’s state-controlled operator, is interested in purchasing Vivendi’s stake in Maroc Telecom, the largest telecoms business in Morocco, reports the Financial Times.

Thought to be interested in concentrating on its media business henceforth, the French conglomerate is reviewing its ownership of various telecoms businesses, including Maroc Telecom (Rabat, Morocco), in which it holds a 53% stake, and SFR (Paris, France), a French mobile-phone operator.

China Mobile revenue up 6.4% on growing data usage

China Mobile reported a 1.4% rise in net profit, to 93.3 billion yuan ($14.9 billion), for the first nine months of the year, with growing take-up of mobile data services spurring a 6.4% increase in revenues, to 408.6 billion yuan.

China’s biggest mobile-phone operator has been focusing on improvements to service quality as the market matures, economic growth slows and competition intensifies.

Orascom seeks full control of Wind Mobile

Egypt-based Orascom Telecom Holding is planning to exploit a change in legislation that will allow it to take full control of Wind Mobile, its Canadian mobile-phone subsidiary.

The company has asked shareholders to approve a proposal that would let it convert non-voting shares in Globalive (Toronto, Canada), the holding company that owns Wind, into voting shares.

AT&T will boost pension fund with $9.5 billion equity stake

AT&T said on Friday it will contribute a stake in its wireless business to the company's pension plan worth $9.5 billion in an effort to secure the fund, according to a U.S. Securities and Exchange Commission filing.

AT&T (Dallas, USA) filed for approval for the proposal with the U.S. Department of Labor on Thursday. It said the move would not significantly affect company earnings.

AT&T's pension plan was underfunded by about $10.2 billion at the end of 2011, a company spokeswoman said.

Alcatel-Lucent to cut 5,490 jobs worldwide

Reuters

Telecoms equipment maker Alcatel-Lucent plans to axe 5,490 jobs worldwide as part of a cost-saving program unveiled in July, with more than a quarter of the cuts coming in France.

Union representatives in France on Thursday pledged to fight the 1,430 job cuts in France and called on the government to intervene, creating another headache for the new Socialist government as it tries to tackle unemployment which is at a 13-year high.

"We are in shock," Isabelle Guillemot, of the CFDT union, said, calling on workers to hold protests on Friday.

Verizon third-quarter profit rises, boosted by wireless unit

Reuters

U.S. telecommunications group Verizon Communications Inc posted a 16 percent increase in quarterly profit, helped by higher revenue in its wireless business after it raised data prices and started selling the latest Apple iPhone.

Verizon (New York, USA) said on Thursday it was on track to meet 2012 financial goals, with capital spending for the year expected to be lower than the $16.2 billion total in 2011.

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