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China ends November with 1.28 bln mobile subscribers
2014-12-24 20:15:00| Telecompaper Headlines
(Telecompaper) China ended November with 1.28 billion mobile subscribers, up 0.34 percent from October and 4.72 percent from the same month in 2013. Of the total, 481 million, or 37.55 percent, are 3G users and 869.73 million, or 67.89 percent, are mobile internet users, Digitimes reports citing data from the Ministry of Industry and Information Technology (MIIT). The mobile penetration rate stood at 93.5 percent in November. By the end of the month, there were 250.87 million fixed telephony subscribers in China, which resulted in a penetration of 18.6 percent, according to the report.
Tags: november
china
mobile
ends
Xiaomi secures over USD 1 bln in funding round - report
2014-12-22 05:32:00| Telecompaper Headlines
(Telecompaper) Chinese manufacturer Xiaomi is raising over USD 1 billion in its latest funding round. This values the Chinese smartphone maker at over USD 45 billion, the Wall Street Journal reports, citing an unnamed person familiar with the matter. Expected to close on 22 December, the funding round is led by tech investment fund All-Stars Investment, the source added. Other participants in the round include existing Xiaomi shareholders Russian investment firm DST Global and Singapore fund GIC. Private-equity firm Yunfeng Capital is also participating in the round. A Xiaomi spokesman declined to comment. Back in August 2013, in its previous funding round, Xiaomi was valued at USD 10 billion.
Tags: report
round
usd
funding
Atos to buy Xerox IT outsourcing business for USD 1.05 bln
2014-12-19 08:50:00| Telecompaper Headlines
(Telecompaper) French IT services group Atos has reached an agreement to buy US business services, technology and document management company Xerox's IT outsourcing business for USD 1.05 billion in cash and to become a primary IT services provider for Xerox. The move will nearly triple the size of Atos's business in the US, which would become its biggest operating geography. The transaction includes an additional USD 50 million subject to the condition of certain assets at closing. Xerox's IT outsourcing business employs about 9,800 employees in 45 countries, 4,500 of whom are in the US. It will have an estimated USD 1.5 billion of revenue this year. Xerox currently uses Atos for IT outsourcing work in Europe. Acquiring Xerox's IT outsourcing business provides Atos with a broader geographic footprint and the ability to support the needs of its European and US clients anywhere in the world. This adds breadth to its already deep services portfolio and leading technologies, particularly in cloud, big data, cyber-security, and in high power computing. The intended transaction, which has received the unanimous support of both the Atos and Xerox boards, is subject to customary closing conditions, regulatory and antitrust approvals, and consultation, when relevant, with employee representative bodies. The transaction is expected to close in the first half of 2015.
Tags: business
buy
usd
outsourcing
Free owner Niel to buy Orange Switzerland for CHF 2.8 bln
2014-12-18 13:01:00| Telecompaper Headlines
(Telecompaper) The private equity funds Apax Partners announced an agreement to sell Orange Switzerland to NJJ Capital for CHF 2.8 billion (EUR 2.3 billion). NJJ Capital is the holding company of Xavier Niel, the founder and controlling shareholder of French operator Free. The transaction is subject to customary regulatory approval and is expected to be completed by the end of Q1 2015. Apax said it expects to generate a strong return on the investment, acquired in 2012 from French group Orange. Over the last three years, it has successfully modernised the mobile operator's IT systems, launched 4G commercial services, now reaching over 90 per cent of the Swiss population, and expanded the retail network with eight store openings this year, including a flagship store in Zurich.
UPDATE 1-Samsung's Cheil doubles upon debut after $1.4 bln listing
2014-12-18 08:24:02| Semiconductors - Topix.net
Shares in Cheil Industries Inc , the de facto holding company of Samsung Group , doubled on its debut on Thursday in the latest in a series of steps toward generational succession for South Korea's largest conglomerate. Cheil is about 42 percent owned by Samsung Electronics Co Ltd Chairman Lee Kun-hee and his three children, and is expected to be the main vehicle through which the family will keep control of the group.
Tags: update
listing
debut
doubles
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