TELEFÒNICA-PT BID BATTLE GOES DOWN TO THE WIRE
The Portuguese government has instructed Caixa Geral de Depósitos, a state-owned bank that owns 7.3 percent of Portugal Telecom, to vote against Telefónica’s bid to buy PT out of Vivo, reports FT. The news came on Friday, as Prime Minister José Sòcrates spoke to the parliament. The shareholders will vote on the bid on Wednesday.
RELIANCE SEALS MOBILE MASTS DEAL
Reliance Communications has sold its mobile masts to Reliance Infratel for USD11 billion, to create the largest independent telecom infrastructure company in the world, GTL Infrastructure. Reliance Communications will use the cash to strengthen its position in the over-saturated and highly competitive Indian telecom market.
ISPS FACE SCRUTINY ON TRAFFIC MANAGEMENT
Ofcom is looking for more transparency from Internet service providers regarding to what extent they control data traffic at peak usage points, reports FT. The telecom watchdog expressed concern on Thursday that broadband operators are limiting data traffic in order to prevent their networks from becoming overloaded.