Business Category

Vodafone Sued for $1.8 Billion by Greek Businessman
April 20th 2014 - 11:35 GMT
A Greek businessman is suing Vodafone for EUR1.3 billion (US$1.8 billion) in losses after he accused the company of pulling out of a retail franchise agreement in the country....more

African Towers Operator Raises an Additional $130 Million
April 18th 2014 - 11:45 GMT
African towers operator, IHS Holding says that it has raised an additional US$130 million from investors....more

VimpelCom Sells 51% Stake in Algeria's Djezzy to Settle Long Running Dispute
April 18th 2014 - 11:10 GMT
VimpelCom has finally settled the long running dispute over the ownership of the Algerian mobile network it acquired when it bought from Naguib Sawiris's Orascom Telecom in 2010 in a US$6 billion deal....more

Canada's Telus Makes Second Attempt to Buy Mobilicity
April 18th 2014 - 08:25 GMT
Struggling Canadian mobile network operator, Mobilicity has accepted a takeover bid from larger rival Telus as the result of months of operating under court approved protection from its creditors....more

ZTE Reports Profits Surge for the 1st Quarter
April 17th 2014 - 14:25 GMT
China's ZTE has reported that its first-quarter profit more than tripled as the company said that it posted increased revenue amid growth in the global 4G market....more

Mexican Mobile Network Sues IBM for $2.5 Billion in Damages
April 17th 2014 - 10:10 GMT
The Mexican mobile network operator, Iusacell has file a US$2.5 billion lawsuit against IBM in the USA, accusing it of making fraudulent representations....more

Google Disappoints Investors As Ad Rates Decline
April 17th 2014 - 08:50 GMT
Google's shares have declined over concerns that its advertising rates are declining, despite posting higher overall revenues....more

Telenor Facing $58 Million Fine for Merger Rules Infraction
April 17th 2014 - 08:20 GMT
Telenor is facing a potential fine from the Indian regulators of US$58 million over an administrative issue dating back to its former joint venture in 2010....more

Zain Saudi Arabia Shrinks Its Quarterly Losses
April 16th 2014 - 14:51 GMT
Zain Saudi Arabia (Zain KSA) has reported a shrinking of its quarterly losses, as the company improved its operating margins....more

Fitch Affirms KPN at 'BBB-'; Outlook Stable
April 16th 2014 - 10:05 GMT
Fitch says that KPN continued to take steps to strengthen its domestic competitive position in 2013. However, the domestic market remains challenging, and KPN is yet to demonstrate a sustained and improved financial performance. ...more

Google Buys High-Altitude Solar Powered Plane Developer
April 15th 2014 - 18:45 GMT
Google has continued its investment in unusual technologies, with the acquisition of a solar powered flying drone developer that aims to deliver internet access to rural areas....more

BlackBerry Invests in M-Heath Software Developer
April 15th 2014 - 16:15 GMT
BlackBerry has announced an investment in healthcare IT services provider NantHealth. ...more

Motorola Solutions to Sell Its Enterprise Division for $3.45 Billion
April 15th 2014 - 13:30 GMT
Motorola Solutions has announced that it is selling its Enterprise division to Zebra Technologies in an all-cash transaction that values the division at US$3.45 billion....more

Micromax Denies Interest in South Korea's Pantech
April 15th 2014 - 10:45 GMT
India's second largest mobile phone manufacturer, Micromax has denied media reports that it is interested in buying a stake in South Korea's struggling Pantech....more

Orange in Talks to Sell Telkom Kenya Stake
April 15th 2014 - 09:50 GMT
France's Orange has put its Kenyan subsidiary up for sale, marking its long expected exit from the country....more

Singapore M1 Quarterly Profits As Revenues Decline Slightly
April 14th 2014 - 17:16 GMT
Singapore's smallest telecoms network operator, M1 reported a rise in its first quarter profits, thanks in part to a decline in smartphone sales, and the associated costs of those sales....more

Ireland's Eircom Looking at Third Stock Market Listing
April 14th 2014 - 11:50 GMT
Irish telecoms operator, Eircom is reportedly considering its third stock market listing in 15 years, as its debt holders look to sell their stakes....more

Dubai Holding Looking to Raise $1 Billion from Telecom Stakes Sales
April 14th 2014 - 10:55 GMT
The Dubai government could raise around US$1 billion by selling two stakes in telecoms companies, as it seeks to pay down debt....more

Naguib Sawiris Could Pump Up to $2 Billion into Telecom Italia
April 14th 2014 - 10:25 GMT
Egyptian telecoms billionaire, Naguib Sawiris is said to be ready to pump US$1-2 billion into debt laden Telecom Italia, but only if Telefonica gives up its indirect control of the company....more

Telefonica Offers Concessions to Secure German Merger
April 11th 2014 - 11:33 GMT
Telefonica has offered concessions to the regulators to secure the merger of its German subsidiary with rival mobile network, E-Plus....more

BlackBerry Refutes Reports of Handset Division Sale
April 10th 2014 - 16:50 GMT
BlackBerry's CEO has denied a media report that the company would consider selling its handsets division and become a pure software company....more

EBay Settles Shareholder Dispute with Carl Icahn
April 10th 2014 - 14:00 GMT
Online auction house, eBay says that it has settled a shareholder dispute with the activist investor, Carl Icahn, ending the proxy contest before the company's upcoming annual meeting....more

China's ZTE Expects First-Quarter Profits to Double
April 10th 2014 - 13:30 GMT
China's ZTE has forecast its first-quarter profit will at least double from the same period last year, which it said reflected the strengthening of core operations....more

India's Tata Teleservices Gets Another Year to Find a Buyer
April 10th 2014 - 11:48 GMT
Tata Teleservices has secured a short financial reprieve as its minority shareholder, Japan's NTT DoCoMo has apparently not decided to force a sale of its stake....more

Vodafone Pays $1.5 Billion to Lift Indian Stake
April 10th 2014 - 11:40 GMT
Indian billionaire, Ajay Piramal has sold his 11 percent stake in Vodafone India, for 50% more than he bought it in 2011/12....more

Fitch: Colombia Telecommunications Moving Toward Consolidation
April 10th 2014 - 09:55 GMT
Fitch Ratings says in a research note that it expects stable growth for the Colombian telecommunications sector over the medium term,...more

Orange Sells Dominican Republic Subsidiary for $1.4 Billion
April 9th 2014 - 16:05 GMT
Orange says that it has completed the previously announced sale of its mobile network in the Dominican Republic to a local consortium controlled by Luxembourg based Altice....more

Intel Cutting 1,500 Jobs at Its Costa Rica Factories
April 9th 2014 - 08:42 GMT
Chipmaker, Intel has is to cut 1,500 jobs in Costa Rica and shift the production work to Asia as a cost cutting measure....more

Vodafone Bullish About Indian M&A Opportunities
April 8th 2014 - 18:46 GMT
Vodafone has indicated that it is positive about the expected industry consolidation within the Indian mobile market once the merger and acquisition regulations are finalised....more

Bouygues Telecom Faces Becoming a Takeover Target Itself
April 8th 2014 - 17:11 GMT
Having lost the battle to buy France's SFR, Bouygues Telecom could now face becoming a takeover target....more

Nokia Secures Chinese Approval for Handset Division Sale to Microsoft
April 8th 2014 - 10:30 GMT
Nokia announced that the planned transaction where Nokia plans to sell substantially all of its Devices & Services business to Microsoft has received regulatory approval from the Chinese government...more

China Mobile's Debt Ratings Held Back by Its Government Shareholder
April 8th 2014 - 09:45 GMT
Fitch said that the ratings reflect CML's leading position in China's mobile market and strong financial position, but that its ratings are constrained by China's sovereign rating (A+/Stable) as CML is ultimately controlled by the state....more

Fitch Upgrades China Telecom to 'A+'; Outlook Stable
April 8th 2014 - 08:00 GMT
Fitch said that the upgrade reflects its reappraisal of state support and the assessment that the company is strategically important enough to the Chinese government to warrant a notch uplift from its standalone rating....more

Samsung Issues Second Profits Warning
April 8th 2014 - 05:48 GMT
Samsung has issued a profits warning as the company faces a decline in the average retail price of the smartphones it sells....more

European Union Reforming Tax Rules on Digital Downloads
April 7th 2014 - 17:50 GMT
The European Commission has published explanatory notes to help businesses prepare for the new VAT rules for telecom, broadcasting and electronic services which will enter into force in 2015....more

Cincinnati Bell to Close Wireless Network -- Sells Spectrum to Verizon
April 7th 2014 - 17:20 GMT
USA based Cincinnati Bell has announced that it is selling its wireless spectrum licenses and certain related assets to Verizon Wireless for approximately US$210 million....more

HTC Posts Deeper Than Expected Quarterly Loss
April 7th 2014 - 15:20 GMT
Taiwan's HTC has reported a deeper than expected loss as the company continued to loss market share despite releasing a range of new handsets....more

China's Weibo Files for Listing on US Stock Market
April 7th 2014 - 09:40 GMT
China's Weibo has formally filed for a stock market listing in the USA, seeking to raise around US$380 million....more

Malaysian WiMAX Network Plans LTE Migration on Eve of Profitability
April 7th 2014 - 07:30 GMT
Malaysia based WiMAX network operator, YTL Communications expects to break into profitability soon, although how soon was not specified....more

Telenor Secured Reduction in Indian Mobile License Fees
April 6th 2014 - 11:57 GMT
Telenor has secured a reduction in the license fees it was due to pay for its Indian joint venture as a consequence of the cancellation of the controversial 2008 GSM licenses....more