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Italy fines Facebook EUR 10 mln for consumer breaches
2018-12-10 10:07:00| Telecompaper Headlines
(Telecompaper) Italian antitrust watchdog AGCM has fined Facebook a total of EUR 10 million for alleged breaches of the country's consumer code following a 6-month investigation into the social networking giant's methods of collecting and using personal data. In a statement, the regulator said the company had breached articles 21 and 22 of the Italian Consumer Code after misleading users into registering on the platform, while failing to "adequately and immediately" inform them when setting up of the account that the data they provide will be used for commercial purposes. "Facebook emphasises the free nature of the service but not the commercial objectives that underlie the provision of the social network service, thus inducing users into making a transactional decision that they would not have taken otherwise," said the watchdog.
Tags: eur
italy
consumer
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Inside Secure agrees takeover of Verimatrix for USD 143 mln
2018-12-05 18:04:00| Telecompaper Headlines
(Telecompaper) Inside Secure announced an agreement to acquire Verimatrix, more than doubling its size and expanding its security portfolio beyond wireless and connected devices to the entertainment market. The company will pay a net USD 143 million cash, plus an earn-out of USD 9 million in Q2 2019. Inside Secure will use its own cash plus private debt of USD 54 million provided by Apera Capital and an equity issue worth EUR 52 million to finance the deal.
Tags: inside
secure
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Facebook app installs drop by 1.1 mln in Netherlands in less than a year
2018-11-29 11:56:00| Telecompaper Headlines
(Telecompaper) The penetration of the Facebook app on Dutch smartphones fell by 1.1 million installations since the fourth quarter of last year, according to the Dutch Apps Market report from Telecompaper. In total, 68 percent of Dutch smartphones had the app installed in Q3 2018, down from 74 percent in Q4 2017.
Zain KSA agrees to sale, lease back of tower network to IHS for USD 648 mln
2018-11-28 15:41:00| Telecompaper Headlines
(Telecompaper) Zain Group announced that the board of Zain Saudi Arabia (Zain KSA) has approved an offer to sell and lease back its mobile tower portfolio to IHS Holding for SAR 2.43 billion (USD 648 million). Under the terms of the agreement, Zain KSA is selling only its passive, physical infrastructure to IHS and will retain its intelligent software, technology and intellectual property with respect to managing its network. The agreement also involves a lease-back period of fifteen years, with a five-year renewal option, and building of an additional 1,500 towers over the next six years.
Masmovil buys Lebara Spain for EUR 55 mln, adds 423,000 customers
2018-11-21 09:18:00| Telecompaper Headlines
(Telecompaper) Spanish telecommunications group Masmovil, the country's fourth largest network operator, has announced the acquisition of ethnic MVNO Lebara Spain for EUR 55 million, adding a total of 423,000 new prepaid clients to a customer base that recently passed 7 million. Lebara started operations in Spain back in 2007 and reported revenues of around EUR 50 million over the past 12 months. In a statement Masmovil said it expects to obtain operational synergies from the transactions due to the reduction of the costs of Lebara's MVNO contract with Vodafone expiring in April 2019, which will result in a post-synergy EBITDA of around EUR 24 million.
Tags: eur
customers
spain
adds
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