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TE Connectivity sells SubCom for USD 325 mln in cash

2018-09-17 14:31:00| Telecompaper Headlines

(Telecompaper) TE Connectivity has agreed to sell its subsea communications operations, SubCom, to Cerberus Capital Management for USD 325 million in cash. The deal is expected to complete by the end of TE's fiscal first quarter, subject to the usual closing conditions. The company said it will use proceeds from the sale to fund share buybacks. SubCom, part of TE's Communications Solutions segment, is a global supplier of undersea communications technology and marine services.

Tags: cash usd sells connectivity


Ericsson wins USD 3.5 bln contract for T-Mobile 5G network

2018-09-11 15:10:00| Telecompaper Headlines

(Telecompaper) Ericsson announced a new USD 3.5 billion contract to support T-Mobile's nationwide 5G network deployment in the US. Under the deal, Ericsson will provide T-Mobile with the latest 5G New Radio hardware and software, compliant with 3GPP standards.

Tags: network contract usd ericsson


Nigerian attorney general says MTN owes USD 2 bln in back taxes

2018-09-05 09:47:00| Telecompaper Headlines

(Telecompaper) MTN Group said the office of Nigeria's Attorney General (AG) calculates that MTN owes USD 2 billion in back tax related to the import of foreign equipment and payments to suppliers over the past ten years. MTN said that it had been in talks with the AG about an investigation into tax compliance, in a statement outlining the background to the case of money sent out of the country. 

Tags: back general usd attorney


FCC awards USD 1.5 bln in rural broadband subsidies

2018-08-29 09:08:00| Telecompaper Headlines

(Telecompaper) The FCC has awarded nearly USD 1.5 billion in grants to help bring faster broadband to over 700,000 rural homes and small businesses in the US. This follows the results of the Connect America Fund Phase II auction. More than half of those 713,176 locations will receive download speeds of at least 100 Mbps, the agency said.

Tags: awards usd rural broadband


Saudi authority cancels BeIN Sports network licence after piracy row, fines it USD 2.6 mln for competition breach

2018-08-23 10:33:00| Telecompaper Headlines

(Telecompaper) Saudi Arabia's General Authority for Competition has fined the BeIN Media Group USD 2.6 million and cancelled the Qatar-based network's licence to broadcast in the country, reports Times of Saudia. The action follows a dispute over piracy of BeIN's satellite signal. In the first weekend of the Premier League season, all ten matches were reportedly pirated by BeoutQ, which is said to have its roots in Saudi Arabia.

Tags: sports network usd authority


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