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RCom posts net profit of INR 1.1 bln in Q3
2013-01-24 06:51:00| Telecompaper Headlines
(Telecompaper) Indian operator Reliance Communications reported revenues of INR 53 billion for its fiscal third quarter ended 31 December, up 5 percent year-over-year. Wireless revenues grew 4.7 percent, and Global Enterprise (GEBU) revenues were up 4.4 percent to INR 24.5 billion. Net profit stood at INR 1.1 billion for the quarter. RCom's EBITDA rose 2.4 percent to INR 16.5 billion, while the EBITDA margin slightly fell from 31.9 percent to 31.2 percent. The company had 6.1 million active 3G customers and 27.6 million data customers at the end of the period. Mobile minutes went up 3.1 percent to reach 103 billion. Revenue per minute (RPM) stood at INR 0.44 during the reporting quarter.
AT&T takes USD 10 bln pensions charge, sees margin pressure
2013-01-18 09:01:00| Telecompaper Headlines
(Telecompaper) AT&T announced that it will take a USD 10 billion charge in the fourth quarter 2012 for its pensions obligations. The non-cash, pre-tax charge results from a reduction in the assumed discount rate to 4.3 percent, resulting in an actuarial loss of approximately USD 12.0 billion. This was partially offset by an asset gain of USD 1.9 billion. Due to the continued uncertainty in the securities markets and US economy, the operator lowered its expected long-term rate of return on asset assumption to 7.75 percent. In a SEC filing, the US operator also reported fourth-quarter smartphone sales of approximately 10.2 million devices. Due to the high subsidies on these devices, AT&T said it expects pressure on operating income, margins, and earnings per share in the fourth quarter of 2012. In addition, storms, including Superstorm Sandy, are expected to reduce Q4 operating profit by around USD 175 million, impacting especially the Wireless division. AT&T will report full quarterly results on 24 January.
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ArcelorMittal bids $1.5 bln for ThyssenKrupp's Alabama plant - WSJ
2013-01-17 09:07:55| Steel - Topix.net
ArcelorMittal SA and Brazil's Companhia SiderAorgica Nacional have emerged as leading contenders to acquire ThyssenKrupp AG's steel operations in the United States, the Wall Street Journal reported.
UPDATE 2-Vimpelcom aims to boost cashflow by $2.9 bln over 3 yrs
2013-01-17 07:15:17| Telecom - Topix.net
Telecoms group Vimpelcom, with assets in Russia, Italy and various emerging markets, aims to deliver a major boost of up to $2.9 billion in annual cashflow by the end of 2015 to improve shareholder value.
RCom inks USD 1 bln managed services contract with Alcatel
2013-01-16 04:09:00| Telecompaper Headlines
(Telecompaper) India-based Reliance Communications (RCom) and Alcatel-Lucent have signed a network managed services contract for Eastern and Southern India up to 2020. The contract, which extends RCom's existing agreement with Alcatel-Lucent by over USD 1 billion, will support delivery of voice and data communications services to RCom customers. Alcatel-Lucent will enhance Reliance Communication's operations and integrate hitherto independent mobile and fixed-line teams to form a single network management organisation. This optimised integration of resources will help Reliance Communications to enhance its focus on growing its business and services to customers.
Tags: services
contract
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