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MTS agrees to pay USD 850 mln to settle Uzbekistan bribery charges

2019-03-07 09:36:00| Telecompaper Headlines

(Telecompaper) Russian operator MTS has agreed to pay USD 850 million to settle a case brought by the US over alleged bribery in obtaining licences for MTS Uzbekistan. MTS set aside a provision for the payment already in Q3 2018 and also agreed with the US Department of Justice and SEC to improve its internal controls and compliance checks to prevent future corruption. 

Tags: pay usd charges agrees

Category:Telecommunications

MTN plans asset sales, improves targets after rise in FY results

2019-03-07 08:55:00| Telecompaper Headlines

(Telecompaper) MTN Group increased its subscriber base by 16 million in 2018 to 233 million customers across 21 markets in Africa and the Middle East. The number of active data users increased by 10 million to 79 million, and the active mobile money subscriber base rose to 27 million. This strong commercial momentum drove a 10.7 percent constant currency increase in service revenue to ZAR 125.4 billion, the company said. The group said it met all its medium-term targets, reducing its holding company leverage and accelerating service revenue growth, driven by the implementation of its BRIGHT strategy. It also announced plans for asset disposals and raised its target for service revenue growth in the coming years.  

Tags: results sales plans rise

Category:Telecommunications

Huawei appeals against US government sales ban

2019-03-07 08:45:00| Telecompaper Headlines

(Telecompaper) Huawei has filed its appeal against the ban on the US federal government buying its products. The lawsuit claims the ban included in the National Defense Authorization Act of 2019 is unconstitutional, and the company wants the federal court in Texas to impose a permanent injunction against the restrictions.

Tags: sales government ban appeals

Category:Telecommunications

US Democrats to introduce law restoring stricter net neutrality rules

2019-03-06 16:17:00| Telecompaper Headlines

(Telecompaper) The Democrats are planning to introduce legislation to restore the former net neutrality rules in the US, after taking control of the House of Representatives at the start of this year. A hearing on the legislation to "Safeguard the Free and Open Internet" has already been called for 12 March by the House Communications and Technology Subcommittee. 

Tags: net law rules introduce

Category:Telecommunications

Zayo delays analyst meeting to consider 'strategic alternatives'

2019-03-06 14:16:00| Telecompaper Headlines

(Telecompaper) Zayo announced that it's cancelling its analyst meeting scheduled for 14 March as the board and management are evaluating "strategic alternatives that may enhance shareholder value". The company said it wants to allow time to explore these alternatives, and this is expected to take at least a few weeks if not several months. The announcement follows reports that Zayo has attracted investor interest for its fibre infrastructure assets.

Tags: meeting strategic alternatives analyst

Category:Telecommunications

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