KT Corp to acquire 20% of BC Card from Woori Bank (South Korea)
South Korea’s largest fixed-line operator and second-largest mobile carrier, KT Corp., has reached a deal to buy 20% of BC Card from Woori Bank as part of its efforts to boost its telecom-finance convergence business.
According to KT spokesman, Lee In-Won, they have agreed with Woori on the deal, which will likely be tabled at their board meeting scheduled for Thursday. The deal includes an option allowing Woori Bank, a unit of Woori Finance Holdings Co., to buy back part of the 20% stake if KT ventures into the credit card business on its own in the future.
Lee added that KT is also in talks to buy additional stakes in BC Card held by private equity fund Vogo Fund, Shinhan Card and Busan Bank.
A Woori Bank spokesman also stated that the deal with KT is virtually done and is likely be approved at its board meeting today.
Jordan Telecom net profit drops by 11.3%
Jordan Telecom Group, the country’s sole fixed-line operator revealed that its net profit in the first nine months of 2010 fell 11.3% to US$97.24 million.
France Telecom owns 51% stake in the company. And as per the company, the revenue of its mobile and fixed-line business fell 1.5% to US$447 million compared to the previous year. Company’s data services rose 38% to US$280.2 million.
The group has over 700,000 landlines and a mobile subsidiary Orange that has over 30% market penetration with over two million subscribers.
The mobile phone market has seen a violent grass war with its main competitor, Kuwait telecom operator Zain’s wholly owned Jordanian subsidiary.
Zain is the largest mobile operator in Jordan with around 2.5 million subscribers and a market share of 42% in a market with almost 100% penetration.
Share exchange offered by America Movil to Carso, Telmex Internacional shareholders
www.WirelessFederation.com/news: A share exchange offer to the shareholders of Carso Global Telecom and Telmex Internacional will be launched by Mobile operator America Movil. 2.0474 shares of the stock will be exchanged by America Movil for each Carso share.
An indirect 59.4 percent stake in fixed-line operator Telefonos de Mexico (Telmex) and 60.7 percent in Telmex Internacional would be gained by America Movil through this share swap. Telmex Internacional shareholders would then be offered around 0.373 America Movil shares or MXN 11.66 (approximately USD 0.92) in cashes for each of its share.
America Movil has also planned to delist Telmex Internacional and Carso Global Telecom from all stock exchanges following the stake swap. Integrated (voice, data and video) services in the region is intended to be offered by America Movil, independent of the platform on which they are generated via this business consolidation.
Telenor to be the only telco to bid for Serbia’s second fixed-line license
www.WirelessFederation.com/news: According to Serbia’s telecommunications agency Ratel, the only company to present a bid for the country’s second fixed-line operator licence was Telenor. Mobile operator VIP, Cyprus-based Kerseyco Trading and Serbian-American Konsing Group are the other three companies who had qualified for the bidding.
However, all the necessary documents to participate in the bidding were provided only by Telenor. Company’s financial bid for the second landline operator license granted for a period of ten years will be opened by 18 January.
Millicom buys Colombian operator Ola
Milliom International has won the bidding to acquire Colombian mobile operator Colombia Movil, operating under the Ola brand. The operator had around 2.5 million subscribers at the end of June, equal to a 9 percent market share. Millicom is acquiring 50 percent plus one of the shares in the company for USD 125 million, and expects to invest a total of USD 200 million in new equity in the company within the next three years. The takeover will be financed by debt taken on at another Millicom subsidiary in Latin America. Fixed-line operators Empresa de Telecomunicaciones de Bogota and EPM Telecomunicaciones will retain 50 percent minus one share in Ola, and have three of the seven members on the management board. Millicom expects the takeover to add to EBITDA from 2007. Caribbean-based mobile operator Digicel was also in the running for the takeover of Ola.
Source- http://www.telecompaper.com
Technorati : Colombia, Colombia Movil, Millicom, Mobile, Ola
Ice Rocket : Colombia, Colombia Movil, Millicom, Mobile, Ola
