|Bid||127.98 x 0|
|Ask||128.02 x 0|
|Day's Range||127.77 - 128.76|
|52 Week Range||122.22 - 191.56|
|Beta (3Y Monthly)||1.28|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.08 (9.38%)|
|1y Target Est||2.01|
British telecom companies should show "all due caution" before using China's Huawei equipment in their 5G networks because the government cannot ignore the warnings from the United States, its digital minister said. Britain has found itself caught up in the diplomatic row between Washington and Beijing after the Trump administration told allies not to use Huawei's 5G equipment for fear it could allow China to spy on sensitive communications and data. Britain's National Security Council, chaired by Prime Minister Theresa May, had agreed in April to allow Huawei restricted access to non-core parts of the 5G network, but that decision has been put on hold following the U.S. intervention.
Germany's pricey 5G spectrum auction drew protests from existing mobile operators but cheered investors betting the entry of a new player will revive competition and help close a connectivity gap with the United States and Japan. For market leader Deutsche Telekom the auction, which ran for a record 12 weeks and raised 6.55 billion euros ($7.4 billion), left a "bitter aftertaste", while rival Vodafone called the result "catastrophic".
Germany raised 6.55 billion euros ($7.4 billion) from its 5G mobile spectrum auction, the Federal Network Regulator (BNetzA) said on Wednesday after a near three-month battle that will see a fourth operator enter the market. "The auction leaves a bitter aftertaste," said Deutsche Telekom's Germany chief Dirk Woessner. The market leader bid 2.17 billion euros for 130 Megahertz of the 420 MHz of spectrum being allocated in the 2 Gigahertz and 3.6 GHz bands.
Germany’s auction for 5G spectrum came to an end on Wednesday, after raising close to €6.6bn in a hard-fought bidding battle between groups including Deutsche Telekom and Vodafone that lasted 52 days. The four successful bidders are Deutsche Telekom, which spent €2.2bn, Vodafone (€1.9bn), Telefónica (€1.4bn) and Drillisch (€1.1bn). Deutsche Telekom voiced relief that the auction was over, but criticised the high price the German group had been forced to pay.
UK mobile operator Three on Monday said it would launch its first new-generation 5G broadband service in London in August and would roll out mobile and broadband across 25 towns and cities before the end of the year. Three, which is owned by Hutchison, said it would start its 5G network with a London home broadband service, joining BT's EE and Vodafone in launching services in 2019. Three said its 2 billion pound ($2.55 billion) 5G infrastructure investment included network improvements in major British cities and a cloud core network provided by Nokia.
Ethiopia's parliament will on Monday approve a law covering the liberalisation of the state-controlled telecoms sector, a parliament spokesman said. The move is the first concrete sign of progress on economic reforms pledged by Prime Minister Abiy Ahmed shortly after he took office in April 2018. "(On Monday) the Parliament will discuss comments made on the draft telecom law by standing committees of Human Resource and Technology, as well as Trade and Industry, after the that the MPs will approve the proclamation," parliament's communications director, Qusquam Mamo, told Reuters.
Vocus Group Ltd on Tuesday said Swedish private equity firm EQT Infrastructure had withdrawn its A$3.3 billion ($2.30 billion) buyout offer, making it the fourth suitor to drop its bid for the telecoms company in the last two years. "Following an accelerated period of due diligence, EQT has decided not to proceed with the transaction outlined in the indicative proposal," Vocus said in a statement.
Two weeks after Huawei was put on a blacklist that prevents US suppliers from selling components to the telecoms company, companies across the world are still working out the ramifications. Last week, Huawei told the Financial Times that the Trump administration’s decision to put the company on its “entity list” would affect about 1,200 US suppliers. Huawei bought roughly $11bn in components and services from US companies last year.
Opportunities to invest in foreign stocks and economic growth around the world can be done through American depositary receipts (ADRs), mutual funds, and more.
EU antitrust regulators have extended by two weeks to July 23 their investigation into Vodafone's $22 billion (£17.3 billion) bid for Liberty Global's cable networks in Germany and central Europe, according to a filing on the European Commission website. Vodafone, the world's second-largest mobile operator said discussions with the Commission were ongoing. Earlier this month, Vodafone offered to grant rival Telefonica Deutschland access to its enlarged high-speed broadband network to allay competition concerns about the deal..
The Australian Competition and Consumer Commission (ACCC) blocked the A$15 billion (8 billion pounds) merger earlier this month, citing competition concerns. The deal was to combine Australia's third and fourth-largest telcos to create a big player boasting TPG's fibre network and Vodafone's mobile system. The parties will seek orders to quicken the proceedings, TPG said in a statement on Friday.
Kenya's Safaricom will start a joint venture with Vodacom to acquire the intellectual property rights to the popular M-Pesa mobile financial services platform from Britain's Vodafone, Safaricom's CEO said on Thursday. The 12 million euro ($13.4 million) deal will let both purchasers make significant savings in royalties paid to Vodafone and expand the service to new African markets, said Bob Collymore, Safaricom's CEO.
The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy. Headlines EE and Vodafone pull Huawei phones from UK 5G launch https://on.ft.com/2M1Kx3P ...
WASHINGTON/BEIJING, May 22 (Reuters) - The United States is at least a month from enacting its proposed tariffs on $300 billion in Chinese imports as it studies the impact on American consumers, U.S. Treasury Secretary Steven Mnuchin said on Wednesday. Washington this month hiked existing tariffs on $200 billion in Chinese goods to 25% from 10%, prompting Beijing to retaliate with its own levies on U.S. imports, as talks to end a 10-month trade war between the world's two largest economies stalled.
Britain's biggest mobile operator EE said on Wednesday its 5G network would rely on equipment made by China's Huawei, at least for the first few years, as it announced plans to switch on the next-generation services on May 30. The United States has said Huawei is a security risk and open to spying by Beijing, a claim the Chinese company denies. The government will rule imminently whether Huawei will be allowed to participate in these new networks.
LONDON (Reuters) - Vodafone UK said on Wednesday it had dropped a Huawei 5G smartphone from pre-orders for its new service starting in July, because of uncertainty about long-term support and services ...
Team Modi’s promise of a non-adversarial tax environment gave hope to the likes of the U.K.’s Cairn Energy Plc, which earlier that year had landed on the radar of Indian tax authorities for dodging a levy on purported capital gains. Cairn Energy transferred ownership of its Indian oil field in 2006 to Cairn India Ltd., to prepare for the local unit’s initial public offering.