Tag Archives | telco

Hutch’s Eircom legal challenge fails

The Irish courts yesterday dismissed a legal challenge from Hong Kong-based ports-to-telecom operator Hutchison Whampoa to have its EUR2 billion (USD2.54 billion) offer for the Republic’s former monopoly operator Eircom considered. It is understood Mr Justice Peter Kelly refused Hutch’s application to defer the creditors’ meetings and require the court-appointed examiner Michael McAteer to withdraw his refusal to admit Li Ka-shing’s company to proceed to phase two of the process. In brief, Justice Kelly ruled that Hutch’s petition would effectively constitute a plea for the courts to intervene in a commercial judgment and interfere with the examinership process, something it is not permitted to do

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TeliaSonera considering NextGenTel sale

Swedish telco TeliaSonera is reportedly planning to sell off its Norwegian broadband arm, NextGenTel. According to Swedish daily Dagens Industri, which cited unnamed people familiar with the matter, TeliaSonera has issued an investment memorandum to potential buyers, and expects the sale to bring in between SEK1.0 billion and SEK1.5 billion (USD143 million-USD214 million).

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China Telecom pushes fibre services in Shanghai

China Telecom plans to increase the number of subscribers using its fibre-to-the-home (FTTH) services in Shanghai by one million by the end of the year, bringing the total FTTH customer base for the city to 2.3 million, C114 reports Zhang Weihua, the telco’s manager for Shanghai as saying. At the end of 2011, China Telecom’s FTTH network passed 4.5 million homes, with 1.3 million subscribers taking fibre-based services. The telco aims to achieve citywide FTTH coverage by the end of 2015, and have increase the proportion of broadband customers taking fibre services to 90% by that date

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Court-appointed examiner rejects revised Eircom bid

Michael McAteer of Grant Thornton, the examiner appointed by the courts to oversee Eircom’s affairs since the business fell into insolvency at the end of March, has rejected a revised cash bid for the telco from 3 Ireland and its Hong Kong parent group Hutchison Whampoa.

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Telus fails to restructure shares, attacks hedge fund

Canadian telco Telus has withdrawn a proposal to introduce a single class of common shares in place of its current dual-share structure after conceding that it could not gain the required level of shareholder support for the move. As previously reported by CommsUpdate, Telus sought to convert non-voting shares into voting stock on a one-for-one basis, but the plan was opposed by its largest single shareholder, New York-based hedge fund Mason Capital Management, with 18.7% of outstanding common shares but a much smaller number of non-voting shares at the time of the plan announcement a month ago

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Operating cost reductions boost BT’s profits in FY2011/12

British fixed line incumbent BT has released financial results for the fiscal year ended 31 March 2012, revealing an improved bottom line, despite a dip in revenue. For the twelve-month period under review BT generated an adjusted turnover of GBP19.307 billion (USD30.4 billion), down 4% compared to the GBP20.076 billion reported for the previous financial year, with the company noting that underlying revenue excluding transit decreased by 1.9%, which it said reflected ‘lower revenue from calls and lines and the challenging environment in certain markets’.

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Zattoo announces LuxGSM live mobile TV tie-up

Zurich-based web TV provider Zattoo has confirmed that it has agreed a deal with Luxembourgian telco P&T which will allow customers of the firm’s LuxGSM mobile unit to watch live TV on their smartphones, tablets and PCs. For EUR2.99 (USD3.88) per month subscribers will gain exclusive access to over 40 live TV channels. Zattoo says that, as a result of the deal, it now has a presence in seven European markets.

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Telekom unites billing for all services

Telekom Slovenije has introduced a joint account for all retail fixed and mobile network services it provides, in a move which the telco said was prompted by a large volume of requests.

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Eircom rescue plan could emerge within days, paper says

The Irish Independent reports that a plan to rescue the country’s beleaguered fixed and mobile operator Eircom by handing it over to its principal lenders could be agreed within days. Citing sources close to the matter, the paper claims that an ‘investment agreement’ between Eircom’s examiner Michael McAteer, the carrier and its secured lenders is ‘timetabled to be agreed and announced today’.

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T-Mobile’s Dutch unit to curtail fixed line activity

Dutch telco T-Mobile Netherlands is scaling back its aspirations in the domestic market and will no longer invest in fixed telephony and broadband services, De Telegraaf reportedly quotes its CEO Thomas Berlemann as saying. Going forward, the operator intends to focus its marketing activities on its core mobile business, although Berlemann insists T-Mobile will not sell the fixed line division, T-Mobile Online, rather it will no longer invest in the develop of its networks, products and services.

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