All articles tagged with #telecoms
Originally Published 2 months ago — by Financial Times
John Malone, known as the 'Cable Cowboy,' is stepping down from his leadership role in his media and telecoms empire, marking a significant change in the industry.
Originally Published 2 years ago — by Reuters
Vodafone has agreed to sell its Spanish business to Zegona Communications for €5 billion ($5.3 billion) as part of CEO Margherita Della Valle's efforts to revamp the company. The sale will allow Vodafone to focus its resources on markets with sustainable structures and sufficient local scale. The deal includes €4.1 billion in cash and €900 million in financing. Vodafone has struggled to grow in the highly competitive Spanish market, and this transaction is part of the company's plan to streamline its assets. Zegona, a British company, will fund the deal through new debt, Vodafone financing, and an equity raise.
Originally Published 2 years ago — by Deadline
Patrick Drahi, the Israeli-French telecoms and media mogul, directly addressed investors and analysts during a quarterly results call for Altice International to address concerns over a corruption probe involving its Portuguese subsidiary. The probe led to the arrest of Armando Pereira, a long-time collaborator and co-founder of Altice. Drahi expressed shock and disappointment and stated that if the suspicions are true, he will feel betrayed. Altice has commissioned an independent investigation and suspended payments to the supply companies implicated in the investigation. Drahi is expected to make further appearances at investor meetings and quarterly results calls in the coming months.
Originally Published 2 years ago — by CNBC
BT Group, the largest mobile and broadband supplier in Britain, has announced the appointment of Allison Kirkby as the new CEO, replacing Philip Jansen. Kirkby, who has experience in the telecoms industry, will take over the role by the end of January 2024. Jansen will support the transition until March 2024 before retiring. Under Jansen's leadership, BT has focused on building a national fibre network and offering discounted wholesale fibre pricing. The company reported positive financial results, with adjusted EBITDA up 5% to £2 billion ($2.57 billion) and pre-tax profit of £536 million.
Originally Published 2 years ago — by Barron's
Nokia and Ericsson stocks are both declining as telecoms companies in North America reduce their spending, leading to a downbeat outlook on demand for the telecommunications suppliers.
Originally Published 2 years ago — by PYMNTS.com
Telecom giants Verizon, T-Mobile, and AT&T have dismissed reports that they are in talks with Amazon to offer low-cost wireless to Prime members. Amazon has also denied the reports, stating that they have no plans to add wireless at this time. Analysts suggest that Amazon's entry into the wireless game could trigger major disruptions in the telecom sector, as it could offer less costly plans.
Originally Published 2 years ago — by BBC
Vodafone will cut 11,000 jobs over the next three years, which is around a tenth of its global workforce, as the new CEO, Margherita Della Valle, sets out her plans to "simplify" the telecoms giant. The cuts will affect its UK headquarters and other countries. Vodafone has struggled with higher energy bills, weaker sales in Germany, Italy and Spain, and falling customer satisfaction levels. The company has already outlined plans to cut jobs in some areas.
Originally Published 2 years ago — by The Guardian
Canada has approved a $20bn takeover of Shaw by Rogers, creating a media and sports behemoth in an already concentrated media landscape. The deal has been slammed by anti-monopoly consumer groups as "a dark day" for competition in Canada. Canadians already pay some of the highest mobile rates in the world, and consumer groups fear the deal will lead to higher prices. The industry minister, François-Philippe Champagne, has secured "unprecedented and legally binding commitments" from the companies, promising stiff penalties if they break their word.
Originally Published 2 years ago — by Reuters
Canada has approved Rogers Communications' $14.8 billion acquisition of Shaw Communications after securing commitments to promote competition in the telecoms market. The deal faced opposition from consumer advocates and politicians who feared it could lead to higher prices due to an overlap between Rogers and Shaw's wireless divisions. To ease concerns, the government outlined 21 conditions, including asking Rogers to set up a Western headquarters in Calgary, create 3,000 new jobs in Western Canada, and invest $5.5 billion to expand 5G coverage and services.