China Unicom Ltd is to buy back a 3.8 percent stake held by SK Telecom for about US$1.29 billion.
According to china Unicom, SK telecom will sell it back 899.75 million shares it holds in China Unicom.
“After the share repurchase, China Unicom will be pleased to maintain the sound cooperation partnership with SKT,” China Unicom Chairman Chang Xiaobing said in a statement.
The repurchased shares will be cancelled and the total shares of China Unicom will be reduced from 23.768 billion to about 22.868 billion.
(USD= 7.75 HKD)

China Unicom Ltd is to buy back a 3.8 percent stake held by SK Telecom for about US$1.29 billion.

According to China Unicom, SK telecom will sell it back 899.75 million shares it holds in China Unicom.

“After the share repurchase, China Unicom will be pleased to maintain the sound cooperation partnership with SKT,” China Unicom Chairman Chang Xiaobing said in a statement.

The repurchased shares will be cancelled and the total shares of China Unicom will be reduced from 23.768 billion to about 22.868 billion.  (USD= 7.75 HKD)

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Bharti, Ericsson in Expansion Deal

Bharti Airtel has signed a $1 billion (approximately Rs 4,500 crores) network expansion contract with Ericsson, a Swedish telecom equipment maker.Under this contract, Bharti Airtel will expand and upgrade its GSM and GPRS network, as well as managed services. The deal will enable Bharti Airtel to rapidly extend its GSM footprint in the country, and increase its network capacity.

The three-year services agreement will see Ericsson manage design, development, and deployment of Airtel’s network, including capacity and coverage, enabling the operator to expand in rural India, and reach out to all towns and cities in around 15 regions.Speaking at the occasion, Manoj Kohli, president, Bharti Airtel, said that their partnership with Ericsson allows them to focus on delivering better customer experience, even as they leverage the world-class expertise of their partners to roll out their networks across all census towns by March 2007.

Kohli said that they are also sourcing next generation products that will allow them to deliver innovative products and services to customers.

The contract also involves Ericsson upgrading the Airtel network with mobile softswitch (Media Gateway and MSC server), the solution that paves the way to an all-IP network. Bharti Airtel will be able to cut operational costs, and introduce new services in a cost-efficient way.

The scope of the agreement extends to 15 Airtel circles of Delhi, Haryana, Punjab, Himachal Pradesh, UP (East and West), Andhra Pradesh, Tamil Nadu, Chennai, Karnataka, Kerala, Rajasthan, Jammu & Kashmir, Assam, and the North East.

In a statement, Mats Granryd, managing director, Ericsson India, said that rollout speed plays an extremely important role in large expansions of this nature, and that Ericsson has demonstrated expertise in this area. They are honored and pleased that Bharti Airtel has chosen them as a partner to expand its coverage across the country, particularly in untapped rural areas.

Source- http://www.techtree.com

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