Cable & Wireless Communications (C&W) is in discussions to sell its 51% stake in a Macau telecoms operator as it looks to reduce debt and focus efforts on the Caribbean region.
The operator confirmed earlier today that it was holding talks with CITIC Telecom International Holdings (Hong Kong) about selling its shares in Companhia de Telecomunicações de Macau (CTM), which provides mobile-phone services and broadband services and is the only fixed-line voice business in Macau.
TPSA, Poland’s former state-owned telecoms monopoly, has warned investors it will fail to meet previous full-year earnings objectives because of the harsh macroeconomic conditions and intensification of a price war in the mobile-phone market.
The warning came as the operator, majority owned by French incumbent France Telecom (Paris), published third-quarter results that showed a 5.5% drop in revenues, to 3,473 million zlotys ($1.11 billion), compared with the same period last year, and an 18.6% decline in net income, to 307 million zlotys, before adjusting for tax relief.
Japanese mobile operator Softbank Corp said it will buy about 70 percent of Sprint Nextel Corp, the third-largest U.S. carrier, for $20.1 billion - the most a Japanese firm has spent on an overseas acquisition.
Bharti Airtel, India’s biggest mobile-phone operator, is set for a radical restructuring that will see its Indian and African businesses united under one global chief executive, reports Indian newspaper the Economic Times.
Manoj Kohli, the current chief executive of the African operations, is thought to be favorite to take on the new leadership role, with the changes coming into effect during the first half of 2013.
Chinese mobile phone and telecoms equipment maker ZTE Corp (Shenzhen, China) will report a loss of as much as 1.75 billion yuan ($279.2 million) in the first 9 months of 2012, it said in a preliminary results announcement on the Hong Kong Stock Exchange on Sunday.
The Shenzhen-based company has suffered as a slowing economy has hurt sales and margins have come under pressure. ZTE said its loss will be between 1.65 billion yuan and 1.75 billion yuan. That could be a fall of more than 260 percent compared with the same period last year.
Satellite operator Avanti Communications (London, UK) disappointed financial markets with preliminary results for the recent financial year that missed expectations.
Having made a July forecast that revenues would come in at £17.8 million ($28.5 million), the company reported a top-line figure of just £15 million.
Although a substantial improvement on the £6.1 million generated the year before, the results triggered a sharp fall in Avanti’s share price in early morning trading.
Private-equity group Inverness Graham Investments (Newtown Square, USA) has taken a majority stake in RACO Wireless (Cincinnati, USA) as the M2M specialist reveals its acquisition intentions and predicts a “significant surge” in the growth of the market.
Vivendi (Paris, France) is considering a sale of its controlling stake in Morocco’s largest telecoms operator, according to the Financial Times.
The French media conglomerate has reportedly hired Lazard and Crédit Agricole banks to look into the sale of its 53% stake in Maroc Telecom (Rabat, Morocco).
Such a divestment could raise as much as €4 billion for Vivendi, according to financiers cited by the FT.
WiFi products maker Ruckus Wireless Inc (Sunnyvale, USA) filed with U.S. regulators on Friday to raise up to $100 million in an initial public offering of common stock.
The Sunnyvale, California-based company, which makes wireless LAN products for both indoor and outdoor use, intends to list its stock under the symbol "RKUS."
The company however did not specify the stock exchange it intended to list on, the number of shares it planned to sell and their expected price.
In one of the biggest telecoms deals of the year so far, Qtel (Doha, Qatar) has raised its stake in Wataniya (Kuwait City, Kuwait) from 52.5% to 92.1% for a fee of 519.1 million Kuwaiti dinars ($1.85 billion), hoping to boost the performance of Kuwait’s number-two operator.
Qtel, which has emerged as a major regional player over the last few years, says that increasing its stake in Wataniya represents a major step forwards in its ongoing expansion strategy.