T-Mobile Netherlands will not offer compensation for network failure
T-Mobile Netherlands will not reportedly compensate customers hit by a network failure on 28 March. T-Mobile NL has stated that the disruption to services was due to a force majeure.
According to the company, it will also not compensate business customers which were not able to conduct their business due to the failure. The business customers can point out to T-Mobile where or how they suffered damages. The fault occurred in the subsystems in Amsterdam.
Customers registered onto these systems could not access the network. Some customers were able to make calls from 9.00 pm on 28 March, but not all of these could receive calls. The network issue was fully resolved at 11.00 pm on the same day. A total of two million customers, both business and consumers, were affected throughout the country. T-Mobile NL made no comment on how the network failure would impact the company.
According to spokesman for T-Mobile NL, text messages were sent a bit later because they piled up as a result of the network disturbance. It was virtually impossible to prevent these kinds of failures. Regulator OPTA told T-Mobile NL that it would look into the events of the day.
Network failure at T-Mobile NL solved (Netherlands)
According to the T-Mobile website, more than 2 million customers affected on March 28th by the network failure at T-Mobile Netherlands can now make and receive calls again.
The cause of the failure was identified and work began to address the problem at 11.30 pm on March 28th.
The failure was caused by a problem at the connection central in Amsterdam. A backup system became operational at 9.00 om.
VimpelCom shareholders approve combination with Wind Telecom S.P.A.
VimpelCom Ltd. (“VimpelCom” or the “Company”) (NYSE: VIP) announced today that the Company’s shareholders approved all of the items on the agenda at today’s Special General Meeting, paving the way to complete the combination of VimpelCom and Wind Telecom S.p.A. (“Wind Telecom”) (the “Transaction”).
Alexander Izosimov, CEO and President of VimpelCom, commented: “The approval of this transformative combination with Wind Telecom by our shareholders will lead to the creation a new global telecom player with over 173 million mobile subscribers covering a population of 838 million people. The combined group will have a significantly diversified revenue base, substantially larger scale of operations, and potential synergies estimated to be US$2.5 billion on a net present value basis. This transaction and the shareholder vote underscore the Company’s dedication to delivering substantial value creation for shareholders and our commitment to corporate governance excellence.”
Shareholders representing 93.1% of the Company’s voting shares participated in the Special General Meeting. The resolutions at the Special General Meeting were approved by 53.3% of the voting shares that participated in the meeting. Of the Company’s public shareholders, present at the Special General Meeting 39.8% voted in favor of the resolutions and 60.2% voted against the resolutions.
The completion of the Transaction is subject to certain conditions precedent, such as receipt of regulatory approvals and receipt of funds to finance the Transaction. Completion of the Transaction is expected to occur in the first half of 2011.
About VimpelCom
VimpelCom Ltd. consists of telecommunications operators providing voice and data services through a range of wireless, fixed and broadband technologies. The VimpelCom Ltd. group is headquartered in Amsterdam and has operations in Russia, Ukraine, Kazakhstan, Uzbekistan, Tajikstan, Georgia, Armenia, Kyrgyzstan,Vietnam, Cambodia and Laos, covering territory with a total population of about 351,5 million. VimpelCom Ltd. operating companies provide services under the “Beeline” and “Kyivstar” brands. VimpelCom Ltd.’s ADSs are listed on the New York Stock Exchange under the symbol “VIP”.
About WIND TELECOM S.p.A.
WIND TELECOM S.p.A. is a leading international telecommunications company offering mobile, fixed, Internet and international communication services. WIND TELECOM S.p.A. owns 100% of Wind Telecomunicazioni S.p.A. and 51.7% of Orascom Telecom Holding SAE, which in turn operates GSM networks in Algeria,Bangladesh, Egypt, Pakistan, North Korea, and in Canada through its indirect equity ownership in Globalive Wireless. WIND TELECOM S.p.A., through its subsidiaries, is currently serving 117 million subscribers worldwide and is the entry point of choice for both technically advanced attractive markets and high-growth under-penetrated emerging markets.
VimpelCom merger may not get shareholder approval (Russia)
If reports are to be believed, VimpelCom Ltd., Russia’s second-biggest mobile network operator may struggle to get shareholder approval of a merger with Weather Investments SpA.
According to reports, VimpelCom’s board is due to meet in Amsterdam on Dec. 28 to approve the deal and some shareholders said the company could be overpaying for Weather’s assets.
VimpelCom face problems with Sawiris deal (UAE)
Russia’s second-largest mobile phone operator, VimpelCom plans to combine with the telecoms assets of Naguib Sawiris, the Egyptian entrepreneur, are in doubt.
VimpelCom’s board is due to meet in Amsterdam on Tuesday to approve the deal, but the mobile operator’s shareholders are privately warning that an agreement may not be reached.
According to sources, the Russian operator could be overpaying for the assets of Weather Investments, Mr Sawiris’ private investment vehicle. He accused Telenor of objecting to proposals for a new shareholder agreement that would accompany the Weather deal.
According to Mr Sawiris, the company has shown extreme courage and extreme flexibility with this transaction. They do not think they gave anybody any reason not to go through with it.
In October, VimpelCom outlined plans to merge with Weather, which owns Wind, Italy’s third-largest mobile operator, and has a controlling stake in Orascom Telecom, the Cairo-listed telecoms company with assets in Africa, the Middle East and Asia.
VimpelCom agreed to pay $1.8 billion in cash to Weather, which would also get a stake worth $4.8 billion in the Russian mobile operator. Weather would hold 19% of the voting shares in the enlarged VimpelCom group.
VimpelCom also agreed to assume about $15 billion of debt held by Wind and Orascom under the transaction.
But the Weather transaction has been dogged by uncertainty partly because it will be the first big test of a 2009 peace deal between Alfa and Telenor following a bitter dispute over Ukrainian telecoms assets.
The uncertainty has also focused on Djezzy, Algeria’s leading mobile operator and Orascom’s most valuable asset. Djezzy is supposed to form part of the VimpelCom deal, but Algeria wants to nationalize it.
Samsung boasts luxury Galaxy Tab edition
Samsung has unveiled a limited edition luxury version of its Galaxy Tab tablet at the Millionaire Fair in Amsterdam.
The luxury version is similar to the standard model, but also comes with a leather case and a Bluetooth headset. This version carries the same technical specifications, the Android 2.2 operating system running on a 1 GHz processor, a 7 inch 600 x 1024 display and two cameras.
The limited edition tablet computer will sell for US$990, compared to an average of $600 for the standard model. It will be on sale from December 15 to January 31, 2011.
Ukrainian Anti-Monopoly Committee Approves VimpelCom Merger
The Ukrainian Anti-Monopoly Committee has confirmed its former approval of the transaction to merge VimpelCom and Kyivstar GSM into a single holding company.
The decision follows six months of investigations after another operator challenged the US$22 billion tie-up.
As per the statement by the head of the committee, Yuriy Kravchenko, the committee has concluded that there are no reasons to cancel the decision taken.
Mobile operator Astelit had petitioned the committee in April to re-examine the deal.
According to Jo Lunder, the Chairman of VimpelCom, he is very pleased that today the Ukrainian Anti-Monopoly Committee confirmed its prior approval of the transaction combining OJSC VimpelCom and Kyivstar. This marks the completion of the transaction that created VimpelCom Ltd., headquartered in Amsterdam. Part of the strategy behind that transaction was to build a platform for diversified growth. The recent signing of the agreement by VimpelCom Ltd to combine with Weather, which was unanimously approved by the VimpelCom Ltd. Board, marked a key milestone in the further development of VimpelCom Ltd. Indeed the company has certain conditions precedent to closing; however they remain committed to the transaction and believe it creates a strong potential for growth and value creation.
Bharti Chief thanks partners after signing Zain Africa deal
www.WirelessFederation.com/news: With the consummation of the US$10.7 billion deal with Zain Africa, Bharti Airtel chief Sunil Mittal extended his gratitude to its partner Sing Tel for providing its much needed support. As a co-promoter, SingTel holds 31 per cent stake in India-listed Bharti Airtel and therefore its support is critical to any major M&A deal by the company.
According to Bharti Airtel Chairman and Managing Director Sunil Mittal who signed the deal in Amsterdam, the extremely tight time lines and the enormity of the task posed a real challenge. Bharti was able to achieve this important milestone through much hard work and support from SingTel and the external advisors.
All the team members involved in the completion of this hyped deal was also thanked by Mittal making the company world’s fifth largest mobile operator in terms of subscriber base and second largest in terms of population covered by its services. Representatives of the Singapore based telecom giant, Sing Tel have been present in almost all the board meetings discussing the transaction.
MTEL stake eyed by Telekom Srpske
www.WirelessFederation.com/news: Amsterdam-based holding company Ogalar and Bosnian telco Telekom Srpske are in negotiation with each other regarding the purchase of a 49% stake in Montenegrin cellco MTEL.
The remaining 50 percent of MTEL is owned by Telekom Srbija whose 80 percent is owned by the Serbian government and 20% by Greece’s OTE. Meanwhile, 65 percent of Telekom Srpske is owned by Telekom Srbija and 25% owned by three funds based in Republika Srpska (10% by a privatization fund, 10% by the company’s Pension and Life Assurance Fund and 5% by its Restitution Fund).
10 percent of the company is owned by public.
