MEXICO CITY (Reuters) - America Movil is still sniffing out deals in Europe, which could become twice as important for the Mexican telecom company's revenue base within five years, its chief financial officer said on Wednesday.
Shares of America Movil, which is controlled by the family of billionaire Carlos Slim, are down more than 5 percent this year as it grapples with the prospect of competition from AT&T Inc, tough new regulation in its biggest market, Mexico, as well as likely recession in its second-largest market, Brazil.
FRANKFURT (Reuters) - Germany's United Internet is seeking to buy urban fiber-optic networks to expand the national grid of Versatel, which it bought last year, its chief executive told Reuters.
Ralph Dommermuth said he was also on the lookout for more acquisitions to bolster its business applications unit, which it may list separately on the stock exchange, following the acquisition of Poland's biggest web hoster home.pl.
JERUSALEM (Reuters) - Israel presented a proposal to the Palestinian Authority that could enable the opening of a long-awaited Palestinian 3G mobile network in the occupied West Bank.
Meetings held on Thursday had led to an agreement in principle and hinged on the Palestinians meeting Israeli conditions, said a spokesman for the Communications Ministry. He declined to comment on specific terms.
(Reuters) - AT&T Inc said on Wednesday it expects revenue, earnings and free cash flow to grow through 2018 following its DirecTV purchase and investments in Mexico, though it also sees higher capital expenditure.
As the U.S. wireless market reaches saturation, AT&T hopes to tap into DirecTV's video assets and has been expanding its wireless operations in Mexico to grow revenue.
AT&T, which closed its $48.5 billion acquisition of DirecTV in July, also plans to deliver video content through ad-supported TV streaming and mobile video products to unlock new revenue.
NEW YORK (Reuters) - A U.S. criminal investigation into allegations that China's ZTE Corp for sold banned U.S. computer products to Iran has spilled into a civil dispute with a New York-based patent licensing firm, as ZTE has refused to make one of its top executives available for questioning over fears he will be arrested.
(Reuters) - Network equipment maker Cisco Systems Inc reported higher-than-expected quarterly revenue and profit as strong demand for its products in the United States more than offset weakness elsewhere.
Shares of Cisco, considered a bellwether for the performance of the broader network gear industry, rose nearly 4 percent in extended trading on Wednesday.
NEW YORK (Reuters) - A U.S. judge has ordered Cablevision Systems Corp to stop running advertisements accusing rival Verizon Communications Inc of lying about having the fastest wireless network.
The ruling on Monday by U.S. Magistrate Judge Gary Brown in Central Islip, New York, comes days after he ruled against Cablevision's own bid to block Verizon from advertising that it had the "fastest WiFi available" for misleading consumers.
SHANGHAI (Reuters) - China is planning to set up "network security offices" in major Internet companies and for websites so authorities can move more quickly against illegal online behavior, the Ministry of Public Security said in a statement.
Police should take a leading role in online security and work closely with Internet regulators, the deputy minister, Chen Zhimin, told a conference in Beijing on Tuesday.
NEW YORK (Reuters) - Verizon Communications Inc and the unions representing its wireline unit employees on the U.S. East Coast said work will go on and talks continue after their current contract expired.
Since June, the unions have been in talks with Verizon over the company's plans to cut costs by controlling healthcare and pension-related benefits over a three-year period.
FRANKFURT (Reuters) - German carmakers BMW, Audi and Mercedes, will pay around 2.5 billion euros ($2.8 billion) to buy Nokia's maps business, beating out high-tech rivals for location services seen as key to the future of self-driving cars.
Germany's three premium carmakers joined forces and will hold equal stakes in the business, known as HERE, clubbing together to keep the assets from falling into the hands of Internet rivals in Silicon Valley or China.