Financial

Malaysia's U Mobile plans IPO, $470 million network expansion: CEO

Privately owned fourth largest mobile phone operator by subscriber numbers

Reuters

KUALA LUMPUR (Reuters) - Malaysian telecoms company U Mobile is planning an initial public offering as it embarks on a 1.5 billion ringgit ($470 million) network expansion, Chief Executive Officer Wong Heang Tuck told Reuters on Tuesday.

Wong declined to say much the company planned to raise or when it would launch the IPO. Asked about the offering, Wong said: "It depends on where the market is at that point in time... but we are on our way there."

Telecom mergers rein in growth for U.S. network gear makers

Ciena Corp and Finisar Corp last week joined their peers in forecasting a weak current quarter

Reuters

(Reuters) - U.S. network gear makers are bracing for slower revenue growth in the second half of the year as telecom operators, their main customers, postpone spending until the dust settles on several big mergers.

Telecom giants AT&T Inc and Sprint Corp are taking time to decide whether to upgrade existing wired networks or roll out 4G networks, forcing gear makers to cut expectations for what is usually the stronger half of their year.

Dish said to discuss T-Mobile deal with Deutsche Telekom: Bloomberg

DT views potential offers valuing T-Mobile at $35 a share as being substantially too low

Reuters

(Reuters) - Dish Network Corp's <DISH.O> chairman, Charlie Ergen, recently contacted Deutsche Telekom AG <DTEGn.DE> to express interest in acquiring the German company's unit, T-Mobile US Inc <TMUS.N>, Bloomberg reported, citing people with knowledge of the matter.

Ergen has not made a formal offer or hired any bank to advise it on the potential deal, the report said.

Time Warner Cable employees to share $416 million under retention plan

Company will hand out golden parachutes of more than $136M to 5 execs if deal closes

Reuters

(Reuters) - Employees of Time Warner Cable will be $416 million richer even if the cable operator's merger with Comcast does not close, a move designed to keep staff from bolting while federal regulators contemplate the deal.

A proxy statement, prepared for the shareholders meetings of both companies in October to vote on the merger, also lays out the nearly $81.8 million golden parachute that Time Warner Cable's chairman and chief executive, Robert D. Marcus, would receive.

Verizon to pay $7.4 million over failure to notify consumers on privacy rights

Operator to send opt-out notices on every bill and pay the largest fine in FCC's history of personal data settlements

Reuters

WASHINGTON (Reuters) - Verizon Communications Inc will pay $7.4 million to settle a U.S. investigation that found the company failed to notify properly some customers of their privacy rights before using their information for marketing, U.S. regulators said on Wednesday.

Baidu boosts location-based platform with new services, $10 million investment

Data shows more people access the Web via mobile device than computer

Reuters

By Paul Carsten

BEIJING (Reuters) - Baidu Inc launched on Wednesday a service that helps retailers advertise on the smartphones of nearby users as China's dominant search engine company expands its location-based technology to drive growth.

Baidu currently makes most of its income from desktop-based search advertising and has lagged peers such as Tencent Holdings Ltd in capitalizing on the popularity of mobile internet in China, the world's largest market for smartphones.

United Internet to buy KKR's stake in Versatel for $769 mln

German ISP was expected to post flat 2014 revenues of about 548 million euros

Reuters

FRANKFURT (Reuters) - German internet service provider United Internet said on Wednesday it had agreed to acquire buyout group KKR's 74.9 percent stake in cable group Versatel for about 586 million euros ($769 million) in cash.

United Internet, which already controls 25.1 percent of Versatel, had said last month it was considering a complete takeover of the company, which owns Germany's second-largest fiber optic cable network with a length of about 37,000 kilometers.

Brazil telecom battle heats up as Oi tries to buy, split TIM

Move adds a new twist to the bidding war for Vivendi SA's Brazilian broadband unit GVT

Reuters

RIO DE JANEIRO/PARIS (Reuters) - Brazil’s Grupo Oi SA unveiled plans on Wednesday to take over Telecom Italia's local mobile unit, in a move sources said was aimed at breaking up the country’s second-biggest wireless carrier and upstaging merger bids by foreign rivals.

Oi said on Wednesday that it hired Brazilian investment bank and shareholder Grupo BTG Pactual SA to explore alternatives to acquire Telecom Italia SpA's 67 percent stake in TIM Participações SA, the country's second biggest wireless carrier.

Mobile Internet Driving Service Revenues, Contributes 31% Globally in 1Q 2014

In ABI Research’s profitability analysis, Verizon Wireless beat China Mobile for the first time

ABI Research

SINGAPORE - ​In 1Q 2014, the worldwide mobile service revenue increased 0.58% year-on-year (YoY) to US$264 billion according to ABI Research, and the aggregate service revenue for 2014 will grow 2.9% YoY to US$1.01 trillion, mainly driven by the robust growth of the mobile Internet market. Proliferating mobile data subscriptions and enhanced network capacity will drive global mobile Internet service revenue to US$456.7 billion by 2019—44.7% of total mobile service revenue.

Sprint's new pricing plans may not be enough to curb churn

New pricing plan fuels investor concern about margins and pushed its stock down 4.1 percent

Reuters

WASHINGTON (Reuters) - Sprint Corp's cellular plan with more generous data allowances may fall short in overcoming defections by clients concerned about disruptions in the No. 3 cellular carrier's network, analysts say.

The new plan, which doubles the company's data offerings and provides a credit of up to $350 for customers switching from other carriers, does not benefit existing Sprint subscribers, who are kept on their original, more expensive pricing plans.

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