THAI COURT CONFIRMS 3G AUCTION FREEZE
A Thai court upheld a decision to delay the auction for 3G mobile licenses in the country causing shares in Thailand’s top three telecom operators to plummet. While many Asian countries are introducing 4G technology, the ruling could delay 3G services in Thailand by another two years as a new regulatory body is formed, preventing carriers from tapping new revenue streams and delaying foreign investment, FT writes.
A Thai court upheld a decision to delay the auction for 3G mobile licenses in the country causing shares in Thailand’s top three telecom operators to plummet. While many Asian countries are introducing 4G technology, the ruling could delay 3G services in Thailand by another two years as a new regulatory body is formed, preventing carriers from tapping new revenue streams and delaying foreign investment, FT writes.
AXIOM TELECOM PLANS DUBAI IPO
Axiom Telecom, United United Arab Emirates based mobile phone retailer, plans to launch an IPO that could raise AED200-300million (USD54-82 million) for one of its main shareholders, Dubai Holding. The sale would provide funds for TECOM, Dubai Holding’s business parks unit, which owns 40 percent of Axiom, while also allowing the founding shareholders to cash out, writes FT.
Axiom Telecom, United United Arab Emirates based mobile phone retailer, plans to launch an IPO that could raise AED200-300million (USD54-82 million) for one of its main shareholders, Dubai Holding. The sale would provide funds for TECOM, Dubai Holding’s business parks unit, which owns 40 percent of Axiom, while also allowing the founding shareholders to cash out, writes FT.
VITTORIO COLAO ON VODAFONE
FT published excerpts of a video conference with Vittorio Colao, CEO of Vodafone. Colao confirmed that he is not interested in managing minority stakes. However, he emphasized that he refuses to be a forced seller and that, following the recent sale of its holdings in China Mobile, investors will have to remain patient regarding the disposal of other stakes. When questioned about India’s pursuit of a USD2 billion tax bill from Vodafone, Colao said that he hopes the Indian government does not succeed, as it would signal “such a negative message about the country” to have punished the operator for bringing money into the country via the purchase of its business there.
FT published excerpts of a video conference with Vittorio Colao, CEO of Vodafone. Colao confirmed that he is not interested in managing minority stakes. However, he emphasized that he refuses to be a forced seller and that, following the recent sale of its holdings in China Mobile, investors will have to remain patient regarding the disposal of other stakes. When questioned about India’s pursuit of a USD2 billion tax bill from Vodafone, Colao said that he hopes the Indian government does not succeed, as it would signal “such a negative message about the country” to have punished the operator for bringing money into the country via the purchase of its business there.
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