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.
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.
It's this year's biggest technology acquisition and the largest outbound deal in Japan's history. But game-changing, it is not.
Softbank Corp's <9984.T> pricey $20 billion bid to buy control of No. 3 U.S. telecoms company Sprint Nextel Corp
Telefonica hopes to raise around 1.5 billion euros ($2 billion) by selling part of its O2-branded German subsidiary on the stock market.
Europe's largest telecoms company by revenue has said it could also sell businesses in Latin America as it tries to cut its 58 billion euro debt pile and hang on to its prized investment-grade rating, under pressure from the euro crisis in its Spanish home market.
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.