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Mitel offers USD 540 mln for Shoretel
2014-10-20 14:49:00| Telecompaper Headlines
(Telecompaper) Enterprise telephony specialist Mitel has offered to acquire Shoretel for USD 540 million. Its unsolicited bid of USD 8.10 cash per share is a 24 percent premium to Shoretel's closing stock price the last trading day before the announcement. The company went public with the offer after Shoretel's board rejected an initial approach. Mitel said it aims to be a consolidator in the business communications market and a merger with Shortel offers complementary market footprints, particularly in the US, where ShoreTel does more than 90 percent of its business. Mitel said its offer to Shoretel will remain open until 20 November and urged the company to engage in negotiations. Mitel CEO Richard McBee sent a letter to Shoretel's board of directors on 02 October and again on 20 October, outlining the proposal.
Indonesia build $263 mln sea wall protect capital
2014-10-12 16:00:00| Climate Ark Climate Change & Global Warming Newsfeed
Reuters: Indonesia on Thursday officially launched a $263 million project to build a giant sea wall along the coast of its capital, Jakarta, in an attempt to protect businesses and homes from flooding. Last year's rainy season brought Jakarta to a standstill, causing a river in the city to breach its banks and swamp the central business district, leaving thousands stranded and causing $580 million in damage. With 40 percent of Jakarta already below sea level, the situation is only expected to worsen...
Nokia,China Mobile ink 4G equipment deal worth USD 970 mln
2014-10-10 16:06:00| Telecompaper Headlines
(Telecompaper) Nokia Networks and China Mobile have signed a framework agreement for mobile communication equipment and services valued at USD 970 million. Under the terms of the agreement, Nokia Networks will provide its 4G TD-LTE technology including Evolved Packet Core (EPC) and GSM wireless networking equipment, core application platforms, OSS, software, and services to support China Mobile's 4G wireless broadband network rollout this year and next. Deliveries under the agreement started in the first quarter of this year. China Mobile has so far deployed over 500,000 4G base stations, with the goal of building the world's largest TD-LTE network by the end of the year.
Tags: mobile
equipment
deal
worth
Global PC sales hit 78.5 mln units in Q3, exceed forecast
2014-10-09 14:45:00| Telecompaper Headlines
(Telecompaper) Worldwide PC shipments declined by 1.7 percent year-on-year to around 78.5 million units in the third quarter, according to preliminary data from IDC. The drop in sales is a sizeable improvement over the projected decline of 4.1 percent thanks above all to strong commercial PC sales and returning consumer interest. The top three vendors Lenovo, HP and Dell continued to show solid year-on-year growth, with shipments of entry systems, including Chromebooks, again injecting an important source of volume and improved consumer demand. Lenovo's PC sales rose 11.2 percent to 15.7 million units (20.0% market share), HP increased 5.1 percent to 14.7 million (18.8% share) and Dell was up 9.7 percent to 10.4 million (13.3% share). Acer remained in fourth position with 6.6 million units sold (8.4 percent market share), mostly due to the success of its Chromebooks and entry-level notebooks, while Apple moved into fifth position on a worldwide basis with just short of 5.0 million units sold, overtaking Asus.
AT&T to pay USD 80 mln to settle FTC mobile cramming charges
2014-10-08 19:33:00| Telecompaper Headlines
(Telecompaper) As part of a USD 105 million settlement with federal and state law enforcement officials, AT&T Mobility will pay USD 80 million to the Federal Trade Commission (FTC) to provide refunds to consumers the company unlawfully billed for unauthorised third-party charges, a practice referred to as mobile cramming. The refunds are part of a multi-agency settlement that also includes USD 20 million in penalties and fees paid to 50 states and the District of Columbia, as well as a USD 5 million penalty to the Federal Communications Commission (FCC).
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