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Apple CEO sells USD 36 mln worth of stock
2016-08-29 10:37:00| Telecompaper Headlines
(Telecompaper) Apple CEO Tim Cook has sold USD 36 million worth of the 1.26 million block of compensation stock he received in 2011 when he became head of the company, the Wall Street Journal reported, citing a filing at the Securities and Exchange Commission. The shares, which were previously restricted, were valued at USD 135 million. Cook has now hit the halfway point of a stock-compensation plan that could see him awarded 7 million shares by 2021. The CEO earned most of his shares, 980,000, by remaining CEO for five years. He earned the additional 280,000 shares because Apple stock outperformed more than two-thirds of the companies in the S&P 500-stock index over the past three years.
China Telecom profit up 6%, adds 9 mln mobile subs in H1
2016-08-23 09:40:00| Telecompaper Headlines
(Telecompaper) China Telecom reported operating revenues of CNY 176.8 billion for the six months ended 30 June 2016, which represents an increase of 7.2 percent year-on-year. Service revenues amounted to CNY 155.2 billion, up by 5.6 percent from the first half of 2015. First-half EBITDA reached CNY 50.5 billion, down 0.4 percent year-on-year, while EBITDA margin stood at 32.6 percent at 30 June 2016. Profit reached CNY 11.6 billion, up by 6.3 percent year-on-year. Basic earnings per share were CNY 0.14.
Zoona closes USD 15 mln Series B financing with IFC
2016-08-22 09:28:00| Telecompaper Headlines
(Telecompaper) African mobile money firm Zoona has raised USD 15-million in a second round of financing. This Series B round is led by the International Finance Corporation (IFC) and will help Zoona scale up its operations as it aims to reach 10 markets and 30 million active consumers across Africa by 2020, it said in a statement.
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Tencent, Foxconn lead USD 175 mln investment in India's Hike
2016-08-16 12:11:00| Telecompaper Headlines
(Telecompaper) Hike Messenger, India's homegrown mobile messaging platform, announced that it has raised a Series D financing of over USD 175 million, in a new funding round led by Tencent and Foxconn Technology Group valuing the company at close to USD 1.4 Billion. Existing investors Tiger, Bharti Airtel and the SoftBank Group also participated in this round. This is the fourth venture capital round and the biggest to date for Hike, taking the total investment to over USD 250 million so far.
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TCL Communication sees H1 profit crumble to HKD 11 mln
2016-08-15 10:52:00| Telecompaper Headlines
(Telecompaper) TCL Communication Technology, the maker of Alcatel brand phones, saw its net profit plunge to HDK 11 million in the first half of 2016 from HKD 454 million a year ago. Revenues fell 17 percent year-on-year to HKD 10.93 billion, while the company's gross margin improved slightly to 20.4 percent from 19.3. TCL blamed the lower results on the slowdown in the smartphone market, driven by the weak economic climate and intense competition in the Chinese market. Its smartphone sales fell by 12 percent year-on-year to 17.4 million units, and total sales of handsets and other products were down by 2 percent to 33.1 million units.
Tags: communication
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