Shareholders have voted to approve a deal that will see Vodafone sell its 45 per cent stake in US operator Verizon Wireless to JV partner Verizon Communications for a total value of $130bn.
That’s what John Lennon said, at least. The Informer’s not sure Lennon is an entirely reliable source, however. After all, this was a millionaire who entreated us all to imagine no possessions. And let’s not forget that he also claimed on at least one occasion to be a walrus. The Informer thought of Lennon when he saw the news that Vodafone was attempting, in this most romantic of weeks, to woo Ono; the Spanish cable and TV provider.
US operator Verizon Wireless demonstrated LTE Multicast technology to a private audience in New York this weekend, at American Football event the US Superbowl.
Video on demand service Netflix has warned that it “would vigorously protest and encourage [its] members to demand the open internet”, should a threat to net neutrality surface. The threat comes in the wake of US operator Verizon’s successful challenge to the FCC’s open Internet Order.
Verizon Communications on Tuesday agreed to acquire Intel Media, a business division dedicated to the development of Cloud TV products and services. The US carrier will incorporate the Intel-developed technologies into its next-generation video services through the Verizon FiOS fibre optic network and over the top to any device, including via LTE.
The US arm of operator group Deutsche Telekom, T-Mobile USA is to acquire spectrum licenses for the 700MHz A Block from Verizon Wireless.
US operator Verizon has announced plans to acquire content delivery network provider EdgeCast. The boards of directors of both firms have approved the acquisition and hope to finalise the deal early 2014. The value of the deal was not disclosed.
US operator Verizon has announced an 8.4 per cent year on year increase in service revenues to its wireless business for 3Q13, generating $17.5bn for the quarter and a 33.8 per cent operating income margin. Total revenues for the firm were $20.4 billion in third-quarter 2013, up 7.2 per cent year on year.
There’s nothing like easing back into work after your summer holidays, is there? Whatever plans the Informer had for a gentle return were shattered by two of the biggest M&A announcements we’ve seen for some time. Neither depended on the element of surprise for their impact, though, as both had been much anticipated.
Recent merger and acquisition activity has illustrated how Europe’s telecoms sector is becoming weaker, according to top executives at operator trade association the GSMA. Speaking at the GSMA’s Mobile 360 event in Brussels, chairman Franco Bernabè, who is also CEO at Telecom Italia, said that deals such as Vodafone’s sale of its Verizon stake and Microsoft’s acquisition of Nokia suggests that Europe is no longer a leading region in the telecoms sector.
Vodafone put a price on the sale of its 45 per cent share in Verizon Wireless to Verizon in another short statement on Sunday, sizing the deal at $130bn (£83.4bn) in cash and common Verizon stock. While the firm described the talks as “advanced”, and despite reports on Sunday and Monday that the deal is all but done, a formal announcement has yet to be made.
Vodafone has confirmed that it is discussing the potential sale of its 45 per cent stake in US operator Verizon Wireless to JV partner Verizon Communications. Verizon’s desire to assume full control of the largest mobile operator in the US is well known and the deal has been the subject of speculation for the better part of a decade.
Russian operator VimpelCom has poached the CFO of Verizon Wireless, Andrew Davies, and will install him as group CFO in January 2014.
US carrier AT&T has agreed to acquire the assets of a regional mobile network operator, while rival Verizon Communications is facing opposition amid rumours that it could acquire spectrum in Canada.
This week US operator Verizon reported a net profit of $1.95bn for the first quarter of 2013, a 16 per cent year on year increase compared with the $1.69bn generated in 1Q12. The firm’s first-quarter revenues hit $29.4bn, marking a 4.2 per cent increase on 1Q12.
The US Department of Justice’s (DoJ) Antitrust Division has called on telecoms regulator the Federal Communications Commission (FCC) to more aggressively regulate the amount of spectrum that the country’s larger operators are able to own.
US operator Verizon is seeking operators around the world to act as LTE roaming partners, the firm told Telecoms.com. At Mobile World Congress 2013, Greg Dial, director for global roaming at Verizon Wireless, explained that his brief for the show was to identify potential roaming partners in popular overseas markets.
Customers in the US are more satisfied with data sharing service plans than more traditional data plans, according to a study by J.D. Power and Associates. The marketing information services firm’s semi-annual report on customer services in the US operator market found that overall satisfaction among customers who currently subscribe to a mobile share data plan is 778 out of 1,000, compared with 750 among those who subscribe to a more traditional service and data plan.
US operator AT&T has entered into an agreement with rival Verizon Wireless to acquire 700MHz spectrum licenses for $1.9bn in cash plus AWS licences in several states. The 700MHz licenses cover 42 million people in 18 US states including California, Florida, New York, Texas and Washington.
Half of the data traffic on US carrier Verizon Wireless is now carried on its LTE network, its CEO announced last week at CES, marking a significant increase on its October 2012 watermark, when just 35 per cent of its data traffic was LTE.