(Telecompaper) US states can now collect tax from online purchases, following a ruling from the US Supreme Court, the Wall Street Journal reported. Before this, the law stated that sales tax could only by collected from sellers with a physical presence within the state's borders. It will be up to the states themselves to determine how they want to collect taxes. he ruling means people will now have to pay taxes when purchasing goods online. It will also directly affect sellers hocking their goods on Amazon.
(Telecompaper) Deutsche Telekom plans to shed around 10,000 jobs at its IT services arm T-Systems in an effort to turn the company profitable by 2020. The plans were announced by T-Systems CEO Adel Al-Saleh to staff and confirmed by the CEO to Handelsblatt.
(Telecompaper) Intel CEO Brian Krzanich has resigned after violating the company's policy of no fraternising between managers and employees. CFO Robert Swan takes over as interim CEO, effective immediately. At the same time, the chipmaker said it expects record results for the second quarter and full year.
(Telecompaper) AT&T has confirmed plans to launch a new mobile offer bundling TV and music content acquired with its takeover of Time Warner. The new WatchTV app will offer streaming access to over 30 live TV channels, as well as over 15,000 on-demand movies and TV shows, and customers will also have an option to add premium services such as HBO, Starz or Amazon Music. Pricing details will be announced next week when the new plans launch.
(Telecompaper) Norway's Competition Authority has fined Telenor NOK 788 million (EUR 83.5 million) for abusing its dominant position on the Norwegian mobile market. Competition Authority director general Lars Sorgard said the regulator concluded that Telenor created barriers for the development of a third mobile network in Norway, which is a serious infringement of competition law. Telenor said it disagrees with the fine and plans to appeal.
(Telecompaper) Telecom Italia (TIM) is open to talks with wholesale-only operator Open Fiber about merging their respective fibre-to-the-home (FTTH) assets, said the company's CEO Amos Genish in a briefing. "We are more than open ... to participate in a dialogue on such a combination," said Genish. However, according to an unnamed source cited by Reuters, TIM has already spoken about the idea to the shareholders of Open Fiber, state lender Cassa Depositi e Prestiti (CDP) and utility giant Enel. "The ball is in Open Fiber's court, we are willing to sit down with them," said the source.
(Telecompaper) Altice Europe has agreed to sell a 49.99 percent stake in its French tower business and a 75 percent stake in its Portuguese tower assets for a total cash consideration of EUR 2.5 billion. The deals, which have been in the making since the beginning of the year, deliver on the group's objective to reduce debt with the disposal of non-core operations.
(Telecompaper) Instagram announced that it's passed 1 billion users, while launching a new service to watch long-form videos on the platform.
(Telecompaper) China Mobile added 2.25 million new mobile customers in May, ending the month with a total of 901.9 million customers. China Telecom attracted 5.26 million new mobile customers for a total 276.13 million at end-May. China Unicom added 2.41 million mobile billing subscribers in the month, for a total 299.43 million at the end of May.
(Telecompaper) Chinese smartphone maker Xiaomi has set a price range for its IPO in Hong Kong and lined up seven key investors to participate in the offering, according to a term sheet seen by Reuters. The shares will be sold at a price of HKD 17-22 each, and seven investors including Qualcomm and China Mobile will buy a combined 10 percent stake in the group during the IPO.
(Telecompaper) 21st Century Fox has agreed a new takeover offer from Disney, adding a cash element to the originally all-stock deal and beating the rival bid from Comcast. Under the amended agreement, Fox shareholders will receive USD 38 per share, in a choice of cash or stock, with a maximum 50 percent of the total price in cash for Disney. The total equity price of USD 71.3 billion tops Comcast's offer of USD 65 billion for Fox and Disney's first offer of USD 52.4 billion all in stock.
(Telecompaper) The EU's proposed copyright reform has passed a key hurdle with the European Parliament's Legal Affairs Committee approving the draft legislation. The committee also agreed to open negotiations with the European Commission and Council of the EU on a final version of the new law that aims to update copyright law for the growing consumption of online media.
(Telecompaper) AT&T is close to a deal to acquire the advertising company AppNexus, the business news website Cheddar reported. Privately-held AppNexus operates an independent ad exchange for buying and selling of digital ads, which would help AT&T compete better with Google and Facebook and monetise its new content assets at Time Warner.
(Telecompaper) Cisco announced an agreement to acquire July Systems for an undisclosed amount in order to strengthen its offering for enterprise Wi-Fi networks. Based in California and with offices in Bangalore, July Systems offers software to help manage indoor wireless networks and their users.
(Telecompaper) Xiaomi has decided to delay its mainland share offering until after its Hong Kong IPO and has lowered its likely valuation to USD 55-70 billion, Reuters reported. Sources with direct knowledge of the matter said the company was using this valuation in discussions with potential IPO investors. The company in March hoped to raise at least USD 10 billion from the IPO, taking its valuation to USD 80-100 million. Recent pre-IPO research from sponsoring banks valued the group at USD 65-86 billion, Thomson Reuters said.
(Telecompaper) The changes form a 3-year plan building on the strategic investments announced by Telstra in 2016. A consequence of the plan is an expected net reduction in employee and contractor numbers of 8,000, including removing one in four executive and middle management roles to flatten the Telstra structure.
(Telecompaper) South Korean mobile operators SK Telecom and KT have won 100 MHz each in the 3.5 GHz band for provision of 5G services, The Korea Times reports citing a statement from the Korean Ministry of Science and ICT. In the same auction, LG Uplus won 80 MHz in the 3.5 GHz band. The final price for the frequencies was lower than initially expected, namely KRW 4 trillion (USD 3.6 billion).
(Telecompaper) The US Senate has rejected the deal President Donald Trump reached with ZTE, and vote to reinstate the seven-year ban on the company, which will not be able to buy USD components over that period, the Wall Street Journal reported. ZTE was banned for violating US Sanctions and because it was suspected by the Commerce Department of spying on people. The company has denied the accusation.
(Telecompaper) Telenor Group has announced management changes in Asia, in addition to changes in the Group staff functions. The board of directors of Thai operator Dtac has appointed Alexandra Reich as its CEO, replacing Lars Ake Norling who has already accepted a position outside Telenor Group. Sharad Mehrotra has been appointed CEO of Telenor Myanmar.Reich joined Telenor Group in November 2016, and currently serves as CEO of Telenor Hungary and head of Telenor Group's Central Eastern Europe cluster. Her re-assignment to Dtac follows the sale of Telenor's central European operations to PPF. She will take up the new position from 01 September.
(Telecompaper) Danish operator TDC has announced the appointment of Bert Nordberg as chairman from 01 August. TDC was recently taken over by a consortium of pensions companies PFA Pension & Forsikringsselskab, PKA and ATP and Macquarie Infrastructure and Real Assets. Nordberg has served as chairman of Vestas since 2012 and is non-executive director of the boards of Electrolux, Saab, Skandinaviska Cellulosa (SCA) and Essity. Between 2009 and 2012, he was president and CEO of Sony Ericsson.