Telecom Italia has expressed interest in buying GVT, the Brazilian telecoms operator owned by France’s Vivendi.
According to The Wall Street Journal, Marco Patuano, Telecom Italia’s chief operating officer, said the Italian incumbent would evaluate a purchase of GVT (Curitiba, Brazil) during its board meeting next month, but would need additional capital to fund the takeover.
Speaking at this week’s Morgan Stanley TMT conference, Patuano is reported to have said that Egypt’s Naguib Sawiris could provide the means to invest in GVT.
France Telecom is reportedly considering a partial flotation of its stake in EE, its UK mobile-phone joint venture with Deutsche Telekom.
Speaking at an investor conference organized by Morgan Stanley earlier this week, Gervais Pellissier, the French operator’s chief financial officer, hinted of a possible IPO towards the end of 2013 while emphasizing that France Telecom (Paris, France) and Deutsche Telekom (Bonn, Germany) have no plans to give up control of the entity.
WiFi products maker Ruckus Wireless Inc priced its initial public offering at $15 per share, the high end of its expected price range, a market source told Reuters.
The company, which is backed by Google Inc's Motorola Mobility LLC (Mountain View, USA) and venture capital firm Sequoia Capital, raised $126 million by selling 8.4 million shares.
Ruckus (Sunnyvale, USA) offered 7 million shares while selling shareholders, including Telus Corp (Burnaby, Canada), offered 1.4 million shares.
[Note: as of this writing Cisco's stock is trading up 5.8% on the NYSE, having beaten estimates.]
Cisco Systems Inc reported first quarter results that beat estimates but expects flat earnings and slower revenue growth for the current quarter.
"We are modeling Europe to get worse before it gets better," Chief Executive John Chambers said on Tuesday, echoing his comments from the company's fourth-quarter earnings call in August.
However, he added that "we see signs of improvement in the U.S. in enterprise, service provider and commercial."
SingTel reported a 1.6% year-on-year fall in net profit for the September-ending quarter, to S$868 million ($710 million), with performance hit by price competition and unfavourable regulation in Australia’s mobile-phone market.
A rise in expenses and the impact of foreign exchange movements also weighed on the bottom line.
Overall revenues were just 0.8% lower than in the corresponding quarter of 2011, at S$4.572 billion, but revenues from Australia’s Optus fell by 3.6% to S$2.9 billion.
Egypt’s Orascom Telecom swung to a net profit of $106 million for the third quarter, compared with a net loss of $1.5 million in the same period last year, after foreign exchange gains boosted its earnings.
Performance was aided by a 7.6% reduction in capital expenditure as Orascom (Cairo, Egypt) slowed the pace of network expansion in Bangladesh and Pakistan.
But the operator, which merged with Russia’s VimpelCom (Amsterdam, Netherlands) last year, also blamed currency movements for a 4.4% drop in dollar-denominated revenues, to $885 million.
South Africa’s MiX Telematics has reported impressive results for the first half of the year, boosted by the extension of existing contracts and new deals in Europe and Australasia.
The telematics vendor, which specializes in driver safety, vehicle tracking and fleet management, said revenues were up 20.3%, year on year, to 564 million rand ($64 million), while operating profits soared 60.8% to 76 million rand.
Google will increase the cash it allocates to its venture-capital arm to up to $300 million a year from $200 million, catapulting Google Ventures into the top echelon of corporate venture-capital funds.
Access to that sizeable checkbook means Google Ventures (Mountain View, USA) will be able to invest in more later-stage financing rounds, which tend to be in the tens of millions of dollars or more per investor.
Telus Corp reported a stronger third-quarter profit on Friday, as increased smartphone adoption boosted earnings from its wireless business and spurred the Canadian telecom company to raise its quarterly dividend.
Wireless data revenue jumped 23 percent in the third quarter ended September 30 as the proportion of postpaid subscribers using smartphones rose to 63 percent, from 48 percent a year earlier.
The Vancouver-based company, one of Canada's largest telecom players, raised its quarterly dividend to 64 Canadian cents a share, from 61 Canadian cents.
Egyptian telecoms tycoon Naguib Sawiris has reportedly offered to spend as much as €5 billion ($6.4 billion) on a stake in Telecom Italia, Italy’s debt-ridden telecoms incumbent, according to a report in Italy’s Il Corriere della Sera newspaper.
Citing sources close to the matter, the Italian daily reports that Franco Bernabe, the Italian operator’s chief executive, has put the offer before the board.