Vodafone Germany to invest €2 billion in fixed infrastructure

Written on Tuesday, 19 September 2017 08:30
Vodafone Germany said it plans to invest €2 billion in its fixed infrastructure as it moves to deliver gigabit fiber broadband to 13.7 million customers. The company said it aims to finish the investment by 2021 and will focus on three segments in cooperation with partner companies in Germany. The network expansion and upgrade plays into Vodafone Germany’s aim to become a “leading converged communications operator” in the country. The operator said its enterprise-focused unit will bring fiber connectivity to…
Spain could increase its GDP by $48.5 billion, an additional 3.6 percent, by 2021, according to a report by Mobile World Capital Barcelona and Accenture Strategy called ‘Opportunity of the Digital Economy in Spain: How digitalization can speed up the Spanish economy’. Findings of the study, which analyzed the state of digital transformation in Spain and its opportunities for improvement, was presented at the 31st Meeting of Telecommunications and Digital Economy held in the Spanish city of Santander, on September…

China Telecom posts profits, but won’t pay dividend

Written on Sunday, 27 August 2017 12:23
Chinese mobile and fixed-line operator China Telecom posted positive interim results for 2017, with net profit increasing 7.4 percent to 12.54 billion yuan ($1.88 billion), compared with a net profit of 11.67 billion the previous year. But the company said it won’t pay an interim dividend this year to allow for funding flexibility. “Taking into consideration the Company’s profitability, cash flow level and the capital requirements for future development, the Board of Directors has decided not to pay an interim…

Telstra shares plunge after announcing dividend reduction

Written on Sunday, 27 August 2017 07:14
Telstra, Australia’s largest telecommunications company, saw its shares dive to a five-year low on August 17 after announcing it will reduce its dividend this financial year. The operator reported a 1 percent lift in its full year profits amidst tough competition, but attention quickly centered on the announced cut to its dividend from next year. The company says the cut to its dividend will help it create a battle fund so it can better fight new competitors in the market.…
Vodacom Group, part of Vodafone, announced that its proposed R35 billion (around US$2.6 billion) acquisition of an effective 35% stake in Kenya’s leading integrated communications company, Safaricom, has been finalized. All regulatory approvals and conditions precedent in both Kenya and South Africa have now been met. At a General Meeting held on 18 July 2017, shareholders overwhelmingly approved the proposed acquisition by Vodacom of an indirect interest of 34.94% in Safaricom Limited and the issue of 233 459 781 new…
Kuwait’s Zain Group reported a 5 percent decrease in revenues for the six months ended June 30 compared to the same period last year due to massive currency devaluation in Sudan, it said. The company ended the period serving 45.2 million customers across the Middle East and Africa. In Q2 2017, Zain Group recorded consolidated revenues of KD 261 million (US$ 860 million), down 5 percent compared to the same period in the previous year. EBITDA for the quarter reached…
German telecom giant Deutsche Telekom posted quarterly results showing core profits up 9 percent thanks to strength in the United States and modest increases in its home market. The company moved up its 2017 outlook for core profit to around €22.3 billion ($26.4) from a previous 22.2 €billion. T-Mobile US, the third largest mobile operator in the United States, contributed to Deutsche Telekom’s rise in profits, as it maintains a 64 percent stake in the company. T-Mobile recently said it…

Apple’s revenue up 7% year-on-year in quarterly results

Written on Sunday, 06 August 2017 13:10
Apple posted quarterly revenue of $45.4 billion for its fiscal 2017 third quarter ended July 1, 2017, and posted quarterly earnings per diluted share of $1.67. These results compare to revenue of $42.4 billion and earnings per diluted share of $1.42 in the year-ago quarter. International sales accounted for 61 percent of the quarter’s revenue. “With revenue up 7 percent year-over-year, we’re happy to report our third consecutive quarter of accelerating growth and an all-time quarterly record for Services revenue,”…
The parent company of Discovery Channel and Animal Planet, Discovery Communications, is forking out $14.6 billion, or $90 per share, based on Discovery’s Friday, July 21 closing price, to purchase Scripps Networks, the parent company of the Food Network and Travel Channel. The deal will combine two major US television companies, further consolidating the media industry. The transaction is expected to close by early 2018. Discovery and Scripps combined share an estimated 20 percent of ad-supported television viewership in the…
South Korea’s SK Telecom reported revenue of KRW 4.346 trillion for Q2 2017 and operating income of KRW 423.3 billion and net income of KRW 620.5 billion. Compared to the same period last year, the revenue and operating income for the second quarter increased by 1.8% and 3.9%, respectively, owing to the improved performance of its subsidiaries including SK Broadband and SK Planet. SK Telecom’s net income grew 113.2% year-on-year (YoY) due to factors including increased equity method gain from…

Chinese tech firms to invest in struggling China Unicom

Written on Sunday, 06 August 2017 08:25
Chinese state-owned telecom company China Unicom, formally known as China United Network Communications Group, is to receive about $12 billion investment from Chinese tech firms Baidu and JD.com in a move to boost the telco lagging behind its rivals China Mobile and China Telecom, a source told Business Insider. The Chinese government is reportedly attempting to drive investment in state-owned giants through private capital. The government selected China Unicom among other state-owned enterprises last year, the report says, to see…
Spanish telecom giant Telefónica posted its Q2 results for 2017 showing strength in its South American subsidiaries and declines in Europe. The company showed “a general acceleration in growth in main financial and operational terms” as it moves to organically reduce its €48.5 billion debt pile rather than sell off assets. The operator posted revenue of around €13 billion, an increase of 1.9 percent from the same quarter in 2016. Net profit for Telefónica reached €821 million, an increase of…
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