Iusacell SA to delist from stock market (Mexico)
www.WirelessFederation.com/news: Cost cutting has become a regular lingo of the industries nowadays with Grupo Iusacell SA, a Mexican mobile phone company been the latest to sing the tune. The company announced that the company is planning to delist its shares from the Mexican stock market to cut costs.
Iusacell is Mexico’s third-largest mobile operator with 3.6 million subscribers at the end of the third quarter, for a market share by subscribers of 4.4%.
A meeting of the shareholders has been called on December 30 to vote for the proposal. The company also said that 95% of its shareholders have already expressed their intention of supporting the decision. After the approval of the delisting the company plans to carry out an offer to purchase outstanding shares.
US$800 million to be raised by Orascom from shareholders
www.WirelessFederation.com/news: In a move to strengthen the balance sheet and ensure liquidity including financing needs, Orascom Telecom Holding (OTH) has announced to plan a Rights Issue to raise around US$800 million from its shareholders.
The proposed Rights Issue is subject to shareholders’ approval at the EGM to be held on December 27, 2009. Bank of America Merrill Lynch, BNP Paribas, Citigroup Global Markets Limited, Credit Suisse Securities (Europe) Limited and EFG-Hermes has been appointed by OTH to advise on the Rights Issue.
Weather Investments owning approximately 50.6% of the outstanding shares of the company has expressed its commitment to subscribe for a minimum of its existing pro rata share in the Rights Issue.
According to Naguib Sawiris, Executive Chairman of OTH, the transaction will enable the company to strengthen its balance sheet to benefit fully while the conditions improve across their core markets.
In the meantime the company will work towards the optimal resolution of the tax dispute in Algeria. The Rights Issue has been chosen at par as per common practice in the Egyptian Capital Markets.
Motorola gobbles up Symbol Technologies
Motorola announced on Sept. 19 that it is acquiring Symbol Technologies, a major supplier of mobile computing products for advanced data capture, RFID, wireless infrastructure, and mobility management — many of which are based on Microsoft’s Windows CE and Windows Mobile operating systems.
Motorola says it has agreed to acquire all of the outstanding shares of Symbol for $15 per share, in a cash transaction valued at approximately $3.9 billion.
Symbol’s recently introduced Windows Mobile-based data-collection handhelds include the MC70(shown top of page) and MC50(shown at left). Recently introduced mobile data-collection devices based on Windows CE, meanwhile, include the MC3090(shown at right) and the MC1000.
Symbol also manufactures devices such as the VC5090vehicle/fixed mount computer (shown at left), and the RD5000 mobile RFID reader (shown at right), both of which run Windows CE embedded OSes.
Symbol has a strong partner network, and possesses “deep domain knowledge and expertise” in key verticals including retail, travel, and transportation, manufacturing, wholesale distribution, and healthcare, the companies said in a statement.
Motorola CEO, Ed Zander stated, “Everything is going digital, and everything digital is going mobile — this is especially evident in the way businesses are run today. Motorola and Symbol share the same vision of a digital, mobile world for enterprises that matches the world people enjoy at home and at play.”
Symbol CEO Sal Iannuzzi added, “We believe this is an outstanding transaction for our stockholders, associates, customers, and partners. Motorola is at the forefront of mobile communications and enterprise solutions technology, making it the ideal partner for Symbol.”
According to Motorola, Symbol will become a wholly owned subsidiary upon completion of the transaction and will form the basis of Motorola’s Networks and Enterprise business unit. The acquisition is subject to customary regulatory approval and the approval of Symbol’s stockholders, and is expected to be completed in late 2006 or early 2007.
Source- http://www.windowsfordevices.com
Technorati : Mobile, Motorola, Symbol Technologies
Ice Rocket : Mobile, Motorola, Symbol Technologies
