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KDDI, Sumitomo join Myanmar telecom

2014-07-16 16:05:49| Grocery - Topix.net

KDDI Corp and Sumitomo Corp signed an agreement with the state-run Myanmar Posts and Telecommunications on Wednesday to jointly operate a mobile phone service in Myanmar.

Tags: join telecom myanmar kddi

 

KDDI, Sumitomo join Myanmar telecom

2014-07-16 15:41:28| IT Services - Topix.net

KDDI Corp and Sumitomo Corp signed an agreement with the state-run Myanmar Posts and Telecommunications on Wednesday to jointly operate a mobile phone service in Myanmar.

Tags: join telecom myanmar kddi

 
 

Portugal Telecom Confirms Espirito Santo Default

2014-07-16 14:36:49| IT Services - Topix.net

Portugal Telecom SGPS SA confirmed Wednesday that it didn't receive the repayment of a a 847 million debt from a unit of troubled bank EspA rito Santo International SA, and the terms of its merger with Brazil's Oi SA have been revised because of that.

Tags: portugal default telecom santo

 

Portugal Telecom agrees smaller stake in Oi merger

2014-07-16 09:31:00| Telecompaper Headlines

(Telecompaper) Portugal Telecom has agreed to a smaller stake in its merger with Brazil's Oi, after Rioforte defaulted on its debt owed to PT. The company confirmed that Rioforte, a company of Espirito Santo Group (GES), failed to pay the EUR 847 million due on 15 July, of the EUR 897 million in short-term debt outstanding at PT. Espirito Santo holds a 10 percent stake in PT, and the Portuguese operator has defended the investment as treasury management. The Rioforte debt is held in subsidiaries contributed to Oi in May, but two representatives of the Brazilian group stepped down from the PT board after the risky nature of the debt came out due to GES financial problems. The two operators have now agreed to a series of options to reapportion the debt across the two groups and revise their new shareholdings, in order to complete the merger as soon as possible. Portugal telecom shareholders will hold just 25.6 percent in the merger company CorpCo, down from as much as 39.6 percent under previous agreements. This could increase later if any of the Rioforte debt is recovered. PT said it plans to take legal action against GES, with the support of Oi. 

Tags: portugal smaller telecom agrees

 

Portugal Telecom cuts stake in renegotiated Oi merger

2014-07-16 02:00:00| Total Telecom industry news

Portuguese, Brazilian telcos renegotiate the terms of their planned merger after Rioforte defaults on debt repayment.

Tags: portugal telecom cuts merger

 

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