America Movil may acquire a 28% stake in KPN for $4.2 billion (Latin America, Europe)
Telecom group America Movil has reportedly made an offer to acquire 28 percent of Dutch telecom company KPN for $10.37 a share. According to reports, the deal valued to be $4.2 billion would enable America Movil to enhance its presence in the Europe market, so as to make up for the stagnant growth in its domestic market.
Carlos Garcia Moreno, CFO, said that America Movil is a long-term investor and they think if the company executes the strategy well, it will perform well. It’s a company that should benefit for the long term.
He added that KPN is the target for their first investment. Europe is facing some times which are economically challenging. They have a long-term investment horizon. They have taken their time. This one seems to make a lot of sense. Further, KPN is a solid company and in the long term seems to be a good return on investment. This is a market they do not know. Being closer to the action through the likes of KPN can give a better view for them.
Batelco appoints Marco Regnier as CFO (Bahrain)
Bahrain’s leading telecom operator, Batelco Group, has appointed Marco Regnier as group chief financial officer (CFO) with immediate effect. According to reports, group chief executive Shaikh Mohamed bin Isa Al Khalifa said that they are are pleased to welcome Marco to the Group. His experience internationally and with other regional telecommunications companies in our markets of operation will further strengthen Batelco Group’s management team.
He added that it also supports efforts, at this important time, for continued market leadership in Bahrain and the group’s drive for growth across the Middle East and North Africa markets and Asia. Further, he would also like to take this opportunity to express our collective gratitude to Kataryna Stapleton for her continued dedication and professionalism over the last five years with Batelco. He said that she has added considerable value to the group and its subsidiaries and they wish her the best in her future endeavours.
Prior to this Regnier was employed with Tunisie Telecom as CFO for three years.
Clearwire CEO Bill Morrow resigns (USA)
USA based WiMAX network, Clearwire’s CEO Bill Morrow has resigned from the post with immediate effect citing personal reasons.
This is not the first time he has left a company for “personal reasons”. He was the famed “turnaround guru” at Vodafone Japan until he suddenly resigned – for personal reasons – in July 2006, only to then take a job at an energy firm just a few months later.
Clearwire’s Chairman, John Stanton has been named the firm’s interim CEO while a permanent successor can be found.
In addition, Erik Prusch, Clearwire’s CFO, has been promoted to the newly created position of Chief Operating Officer (COO), while Hope Cochran, Clearwire’s Senior Vice President and treasurer will take over as CFO. Cochran will be responsible for all of the company’s financial and investor related functions, including overseeing Clearwire’s ongoing fundraising efforts.
The company also announced that Mike Sievert, Chief Commercial Officer, and Kevin Hart, CIO, are both leaving the company to pursue other opportunities.
According to the company, the changes in executive leadership are not expected to impact the company’s progress on an agreement with Sprint to resolve wholesale pricing disputes. Clearwire believes that an agreement with Sprint is imminent.
Deutsche Telekom says all options open in US (Germany)
Deutsche Telekom AG’s Chief Financial Officer has stated that all options will remain open for the company in the U.S., as shares rose on speculation of a tie-up with Sprint Nextel Corp in the U.S.
The manager was responding to reports that Deutsche Telekom has held talks to sell its T-Mobile USA unit to Sprint Nextel in exchange for a major stake in the combined entity, citing people with knowledge of the matter.
Telekom CFO Tim Hoettges listed various possibilities for the company’s U.S operations including a sale of the entire business. He added bringing in a partner, an initial public offering, or network co-operation also remain as options.
AT&T CFO Lindner to step down in June
AT&T Inc has announced that its Chief Financial Officer, Rick Lindner will retire June 1 and will be replaced by Controller John Stephens.Lindner has served as CFO since 2004.
Stephens, a 19-year veteran of the telecommunications company, has been AT&T’s controller since 2001.
According to AT&T Chief Executive Randall Stephenson, Rick and John have worked together closely for more than 15 years, and they expect a seamless transition.
In January AT&T, the No. 2 U.S. wireless carrier behind Verizon Wireless, projected earnings growth for the year that was less than analysts’ expectations. AT&T’S investors have been unnerved since word emerged that Verizon would begin carrying Apple’s popular iPhone, ending more than three years of U.S. exclusivity for AT&T.
AT&T, which is heavily dependent on iPhone, forecast 2011 earnings per share growth in the mid-single-digit percentage range.
Deutsche Telekom to start US mobile towers sale in Q2 (Germany)
Deutsche Telekom AG’s Chief Financial Officer, Timotheus Hoettges has announced that the company has decided to sell its U.S. cellular towers, aiming at freeing up growth capital. The company will begin the sale in the second quarter.
Deutsche Telekom wants to sell and lease back its 7,000 cellular towers in the U.S. in a transaction that could generate a single digit billion dollar profit. The German telco’s competitors have already conducted similar deals.
According to Deutsche Telekom’s CFO, the transaction makes sense as it can generate money for profitable growth directly in the U.S. rather than injecting money from Germany in the market, which has showed continued weakness since 2008.
Deutsche Telekom is the smallest of the four major nationwide mobile network providers in the U.S. and has to buy new spectrum in the future ahead.
Hoettges excluded a sale of Deutsche Telekom’s U.S. operations.
NSN appoints Marco Schroter as new CFO
Nokia Siemens Networks has named Marco Schroter as its new financial chief, succeeding Luca Maestri, who will join Xerox Corp. The appointment will be effective from March 14.
Schroter, a 47-year-old German, was previously chief financial officer at logistics company Schenker AG and at German semiconductor maker Infineon Technologies AG.
Nokia Siemens Networks, a joint venture between German conglomerate Siemens and Finnish mobile phone maker Nokia Corp. is restructuring amid ongoing price pressure from rivals, including Chinese vendors such as Huawei Technologies Co. and ZTE Corp.
According to the company’s CEO Rajeev Suri, Marco has a strong track record of disciplined financial management and helping deliver growth and shareholder value. As the company continues their turnaround, he is confident that he has the right skills and experience to help take Nokia Siemens Networks to the next level of performance.
Total Access to delist from Singapore exchange (Thailand)
Thailand’s second-largest mobile phone operator, Total Access Communication PCL, has outlined its plans to delist from the Singapore Stock Exchange.
As a first step toward removing its shares from the Singapore bourse, the board of Total Access this week approved a plan to change its listing status in Singapore to secondary from primary.
As per the CFO, Vanna Pornsinsiriruk of the company, it plans to delist from the Singapore stock exchange in three years time. They don’t see much benefit in maintaining their listing status in Singapore. She added that only around 1% of the company’s outstanding shares are currently traded on the Singapore exchange.
Total Access listed on the Singapore bourse in 1995, and became a listed company in Thailand in 2007.
Redline Communications Announces Executive Team Changes and Change in Auditors
Redline Communications Group Inc. (“Redline”) (TSX: RDL), a leading provider of specialized broadband wireless systems, today announced the following executive team changes:
- Eric Melka, formerly Acting CEO has been confirmed as permanent CEO for Redline Communications. Eric joined the Redline Board of Directors in late 2009 and became Acting CEO in early 2010. In the months following his initial appointment, Eric undertook a major restructuring of the company that has culminated in the company reporting profitable growth in 2010.
- Bruce MacInnis, Redline’s CFO, will be leaving the Company. His departure date is anticipated to be April 30th, 2011. Bruce joined Redline in May 2010 and has been instrumental in guiding the Company through a complex period of financial restatements. The Company wishes to thank him for his extraordinary efforts during a challenging time.
- Amir Rosenzweig, formerly Acting SVP Sales for Redline, has been appointed as SVP Business Development. Amir joined the company as an advisor in late 2009, lending his assistance with product strategy, business development and the restructuring of the Company’s sales organization. He brings a wealth of industry experience, including serving as President of Alvarion Inc.
- Dennis Stipati joins Redline as VP Sales Americas. Dennis brings 27 years of experience in the wireless industry across the Americas, Europe, Middle East, Africa and Asia. He has served as Vice President of Worldwide Sales at Exalt and Director of Sales at Motorola and will be responsible for all sales activities in the Americas for Redline.
The Company also announced the appointment of BDO Canada LLP (“BDO”) as auditors. BDO replaces the Company’s existing independent auditor, KPMG LLP.
“Redline continues to successfully execute its plan to restructure the Company and the Board is extremely pleased to confirm Eric Melka as CEO and to welcome the newest additions to the management team,” said Philippe de Gasp© Beaubien, Redline’s Chairman of the Board. “2010 has been a year of necessary changes and we wish to thank Bruce MacInnis for his service as CFO and KPMG for their assistance as auditors. We look forward to what will be an exciting 2011 for Eric and his team and the entire company.”
About Redline Communications
Redline Communications (www.rdlcom.com) is a leading manufacturer of specialized broadband wireless systems used to cost-effectively deploy distributed applications and services. Since 1999, Redline systems have been used by local and state governments to extend their public safety networks; by oil and gas companies to connect their digital oil fields; by telecom service providers to bring dedicated Internet access to business users, and by the military to rapidly deploy secure networks. Redline’s award-winning broadband radio systems wirelessly enable distributed applications – private networks, video surveillance, business access, backhaul, and data acquisition – without compromising performance. Redline delivers high speed, real-time connectivity – anywhere, anytime. Redline products are marketed and supported locally through a network of certified value-added resellers in the Americas, the Middle East, and Africa.
JP Morgan re-appointed as depositary bank by Chunghwa Telecom
J.P. Morgan has announced it has been re-appointed as depositary bank for Taiwanese Telecommunications Company Chunghwa Telecom Co. Ltd, or CHT.
The renewed mandate further strengthens the global relationship between the two companies, and reflects the firm’s continued focus on assisting its ADR clients in achieving their objectives.
Dr Shu Yeh, CFO, CHT, said: “Throughout our three year relationship with J.P. Morgan, we have been constantly impressed by their commitment to our business. In J.P. Morgan, we have found a strategic partner that can deliver advice at a global level and support their recommendations through an experienced team of DR professionals around the world. We look forward to continuing our close relationship with a true market leader.”
J.P. Morgan is committed to working closely with its clients to design and implement customized depositary receipt (‘DR’) programs to achieve their strategic goals and facilitate DR liquidity.
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