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CityNet to buy OpenNet for SGD 126 mln
2013-08-23 02:24:00| Telecompaper Headlines
(Telecompaper) Singapore's passive fibre network operator OpenNet, CityNet Infrastructure Management, and SingTel have filed a consolidation application with the Infocomm Development Authority of Singapore (IDA). The application seeks regulatory approval for the purchase of 100 percent of OpenNet by CityNet from the current shareholders. The current shareholders are Axia NGNetworks Asia, SPH Net, SPT Net, and SingTel. Local media report that CityNet would pay SGD 126 million for OpenNet.
Ethio Telecom signs USD 800 mln expansion deal with ZTE
2013-08-19 13:00:00| Telecompaper Headlines
(Telecompaper) Ethio Telecom has signed an USD 800 million agreement with China's ZTE to expand its telecommunications network, AFP reports. CEO Andualem Admassie told journalists that the expansion project was vital to attain Ethio Telecom's objective of increasing coverage across the country and to upgrade its existing. The agreement is part of a USD 1.6 billion expansion project shared with China's Huawei. The two equipment vendors have split the cost of the scheme. The expansion project aims to increase mobile phone and 3G Internet access throughout the country and to introduce 4G broadband Internet in the capital Addis Ababa. Ethio Telecom, the country's monopoly phone and internet provider, aims to increase mobile coverage to 80 percent of Ethiopia. Andualem said the expansion is part of Ethiopia's "growth and transformation plan," an economic blueprint that aims to help Ethiopia reach middle-income status by 2025. Less than one percent of Ethiopia's 85 million people have access to the mobile internet and 23 percent subscribe to mobile phones, according to the ITU.
Tags: deal
usd
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expansion
India's telephony base exceeds 900 mln in May
2013-08-19 03:01:00| Telecompaper Headlines
(Telecompaper) India ended May with 900.05 million telephony users, up by 3.04 million from April. The overall teledensity went up from 73.16 a month earlier to 73.33 in May, according to figures from the Telecom Regularity Authority of India (Trai). The mobile subscriber base grew by 3.18 million in the month to 870.20 million. India's private mobile operators hold a 88.18 percent share of the mobile market (based on subscriber base) where as state-owned operators BSNL and MTNL hold 11.82 percent of the market. Meanwhile, the fixed-line subscriber base declined by 140,000 to 29.85 million in May. BSNL and MTNL hold a share of 78.95 percent of the fixed-line market and the private service providers hold only 21.05 percent of the market. Furthermore, the broadband subscriber base increased to 15.13 million in May from 15.09 million in April. The top five ISPs are: BSNL with 9.96 million subscribers, Bharti Airtel with 1.40 million, MTNL with 1.09 million, Hathway with 360,000, and You Broadband with 310,000 internet customers.
Tags: may
base
exceeds
telephony
UPDATE 1-GSK plugs into bioelectronics with $50 mln venture fund
2013-08-08 20:47:00| Biotech - Topix.net
GlaxoSmithKline raised its bet on using electrical signals in the body to target diseases on Thursday with the launch of a $50 million strategic venture capital fund.
Tags: update
fund
venture
plugs
AOL to acquire Adap.tv for USD 405 mln
2013-08-07 17:41:00| Telecompaper Headlines
(Telecompaper) AOL has agreed to acquire Adap.tv, a global programmatic video advertising platform. The combination of AOL On and Adap.tv will equip AOL with an end-to-end service and video stack for publishers and advertisers, from premium original production, to content aggregation and syndication platforms, robust video CMS technology and a programmatic video platform. Adap.tv will operate independently as part of AOL's video organisation and be included as part of the overall service offered by AOL networks to its publisher and advertiser partners. The purchase price will total USD 405 million, comprised of approximately USD 322 million in cash and USD 83 million in AOL common stock, subject to certain adjustments, The closing is subject to customary closing conditions, including expiration of the applicable waiting period. The boards of directors of both companies have approved the transaction, and the stockholders of Adap.tv have approved the transaction. AOL expects to close the acquisition in the third quarter of 2013.
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