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Telecom Italia confirms CEO exit 'by mutual consent'

2017-07-25 08:28:00| Telecompaper Headlines

(Telecompaper) Telecom Italia (TIM) has confirmed that its chief executive Flavio Cattaneo will be leaving the company by mutual consent after "the completion of the major and extraordinary turnaround" of the business. It said that since Cattaneo was appointed TIM CEO in March 2016, the company had grown its customers and revenues to levels not reached in the last 10 years, increased its core investments and successfully reorganised internal processes and cut costs. It added that it would now embark on a second phase, "a conventional company relaunch that pursues the targets set by Flavio Cattaneo".


Alphabet profit falls in Q2 after USD 2.7 bln fine from EU

2017-07-24 23:15:00| Telecompaper Headlines

(Telecompaper) Alphabet, the parent company of Google, reported a drop in second-quarter net profit, hurt by the competition fine of USD 2.7 billion imposed on the company by the European Commission. In a rare occurrence for the company since it went public, net profit fell to USD 3.524 billion or USD 5.01 per share from USD 4.877 billion or USD 7.00 per share a year earlier. Excluding the fine, net profit was still up, at USD 6.260 billion, according to adjusted figures presented by Alphabet.

Tags: from fine eu usd


China operators add 20.6 million 4G customers in June

2017-07-24 14:40:00| Telecompaper Headlines

(Telecompaper) China Mobile added 3.07 million new mobile customers in June, ending the month with a total of 866.5 million customers. China Telecom attracted 2.83 million new mobile customers for a total 229.85 million at 30 June. China Unicom added 1.09 million mobile billing subscribers in the month, for a total 269.4 million at the end of June.

Tags: add june china million


Gemalto lowers H2 profit outlook on weak Payment and SIM performance

2017-07-24 11:05:00| Telecompaper Headlines

(Telecompaper) Gemalto said that its profit from operations will fall below guidance in the second half of the year, ranging between EUR 200 and EUR 230 million compared with its previous estimate in April of EUR 300-350 million. The company said that revenue for the second quarter declined 9 percent year-on-year at constant exchange rates, impacted by reduced demand for its Payment services in the American market and its SIM business internationally.

Tags: performance payment profit sim


Baidu, JD.com to invest in China Unicom - report

2017-07-24 10:54:00| Telecompaper Headlines

(Telecompaper) Chinese internet search provider Baidu and e-commerce company JD.com, and other Chinese technology companies will jointly invest nearly USD 12 billion in state-owned operator China Unicom, Reuters reports, citing two unnamed people with direct knowledge of the matter. Back in July, press reports claimed Alibaba and Tencent would be among the new investors putting around USD 10 billion into China United Network Communications, a China Unicom unit.

Tags: report china invest baidu


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