Dutch operator group KPN has announced it is expecting to make a loss of €3.7bn that it can deduct against taxes as a result of the sale of its German subsidiary E-Plus to Telefonica Deutschland.
Latin American operator group América Móvil has abandoned its attempt to acquire Dutch operator KPN. The Mexican group said the blocking move made by the KPN Foundation in August had left it unable to “fulfil its aim” with the deal.
Shareholders in Dutch operator group KPN have approved the sale of German subsidiary E-Plus to Telefónica Deutschland at an extraordinary general meeting.
Dutch operator group KPN’s chief financial officer Eric Hageman has stepped down from his role, citing personal circumstances. His resignation comes as Latin American group America Movil attempts a full takeover of KPN; a deal that has met with a number of challenges.
Mexican operator América Móvil has said that it is prepared to withdraw its €2.40/share bid for ownership of Dutch incumbent KPN after the independent KPN foundation exercised an option to buy shares that has given it almost 50 per cent of the voting rights in the telco.
It looks like America Movil has given its approval to the takeover of KPN’s German unit E-Plus after Telefónica Deutschland sweetened its original deal.
Latin American operator group America Movil announced that it has secured the funding needed to finance its takeover of European operator KPN.
Latin American operator group America Movil has made an offer to acquire the outstanding shares in Dutch operator group KPN. The Mexico-based firm already owns a 29.8 per cent stake in the operator but is looking to own it outright, or at least secure a majority share, as it steps up its efforts to expand further into Europe.
Mexico based operator group América Móvil could increase its stake in European operator group KPN after ending a truce to cap its stake in the Dutch based firm.
The boards of the world’s ten largest operators are dominated by executives with legal, financial and engineering backgrounds, resulting in a conservative culture that “struggles to drive and nurture innovation”, according to recruitment consultancy European Leaders.
Latin American operator group America Movil has invested $40m in music recognition app Shazam. The move strengthens Shazam’s presence in Latin America, according to the app maker, as it looks to grow its similar television offering and develop other new products.
América Móvil-owned operator Claro Chile has launched the country’s first commercial LTE services. The launch follows trials launched in November 2012. The operator conducted the first LTE session on its network in March this year.
Mirror, mirror on the wall, who’s the richest of them all?
According to the Bloomberg Billionaires Index released this week, Microsoft founder Bill Gates has just edged past Mexican mogul Carlos Slim, who’s lost more than a few pounds since Mexico’s government passed a bill that could quash America Movil’s market dominance.
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.
Mexico could be on the verge of a major reform of its telecoms sector after the country’s three main political parties agreed to support proposals for a much stronger regulatory regime.
The chief executives of Telecom Italia, Telenor, Telefónica, America Movil and Deutsche Telekom were all on hand at a Mozilla press conference on Sunday evening in Barcelona to voice their enthusiasm for the Firefox browser developer’s new HTML5-based smartphone OS.
Mexican operator group América Móvil has seen its net profit for 4Q12 drop by 8.2 per cent to 15bn pesos ($1.2bn), while revenue for the quarter fell 1.1 per cent to 198bn pesos. The firm blamed the account of the depreciation of various currencies versus the peso.
The industry’s big hitters have finished their doing their sums and counting their cash for another quarter and revealed just how they have performed over the quarter gone by. Apple, as per usual, posted a strong growth in profit, and was joined by America Movil, which did the same. Ericsson and NTT DoCoMo, had bad news to report.
Dutch incumbent KPN has called off the sale of its Belgian subsidiary Base after failing to receive a high enough offer. The firm said Wednesday morning that the sale was discontinued because “current difficult market conditions are reflected in unsatisfactory non-binding offers for Base.” KPN announced plans to sell the operation in June. It is also looking to divest German operation E-Plus.
The industry’s big names are continuing to post their quarterly earnings this week, and American operators Sprint and America Movil, as well as Middle Eastern operator group Etisalat, shared somewhat encouraging results. Meanwhile, Samsung recorded its best ever profit for a quarter but Facebook had bad news in its first ever earnings statement.