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Latest TelecomFinance Articles

  • 01 Oct 14

    The CEO of Egypt-based telecoms holding Orascom Telecom Media and Technology (OTMT), Karim Beshara, resigned from his position yesterday to pursue “new private business opportunities”, he said.

    To replace him, the board has appointed Ahmed Abou Doma, who started in the new role today.

  • 30 Sep 14

    America Movil’s Claro, Telecom Italia’s Tim Brasil, Telefonica’s Vivo and regional player Algar Telecom have all secured frequencies in Brazil’s 700 MHz national spectrum auction, which was held today in Brasilia.

    Claro was awarded the first nationwide 4G licence with a bid of R$1.95bn (US$795m),Tim Brasil also offered R$1.95bn for the second lot while Vivo secured spectrum with a bid of R$1.93bn (US$787m). Algar received frequencies covering only certain Brazilian cities with a bid of R$29.6m (US$12m).

  • 30 Sep 14

    Telekom Malaysia (TM) has completed its MR350m (US$106.3m) purchase of local WiMax operator Packet One (P1), after securing regulatory and shareholder approvals.

    The Malaysian incumbent bought a 55.3% stake from former controlling shareholder Green Packet and Korea’s SK Telecom, which saw their stakes fall to 31.1% and 13.6% respectively.

  • 30 Sep 14

    Egypt’s Orascom Telecom Media and Technology Holding (OTMT) has not taken any decisions with regards to the sale of its 5% stake in local operator Mobinil to French incumbent Orange.

    Earlier today, trading in OTMT’s and Mobinil’s shares had been suspended pending an announcement from the Egyptian holding.

  • 30 Sep 14

    Virgin Mobile Middle East and Africa (VMMEA) has today started offering MVNO services in Saudi Arabia.

    VNMEA, which was set up in June 2012 in partnership with Middle Eastern MVNO Friendi Group, is launching two brands on the Saudi market: Virgin Mobile, targeting young people, and Friendi Mobile, which is aimed at expatriate workers.