By Reuters Staff
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(Reuters) -Verizon Communications Inc said on Wednesday it lost more wireless subscribers than expected during the first quarter as it battled intense competition from T-Mobile US Inc and AT&T Inc to attract customers.
As the 5G technology gains traction, customers have been exploring competitive options from the big three telecoms carriers, which are making big investments to upgrade their networks.
Verizon lost 178,000 wireless phone subscribers in the first quarter, more than 121,700 subscriber loss estimated by FactSet.
Total operating revenue rose about 4% to $32.9 billion, compared with analysts’ estimates of $32.46 billion, according to IBES data from Refinitiv.
By Reuters Staff
1 Min Read
BANGKOK, April 19 (Reuters) - Thailand’s Gulf Energy Development Pcl is planning a $5.4 billion bid to buy all the shares it does not own in telecoms firm Intouch Holdings , which controls the country’s biggest mobile operator.
Bangkok-based Gulf Energy, which owns 18.93% of Intouch, said in a filing it had offered to buy the rest of the shares for 65 baht per share, 11% higher than its previous close. That would cost it some 169 billion baht ($5.4 billion).
Intouch shares rose by more than 8% on Monday following the news, while Gulf Energy, which is led by billionaire Sarath Ratanavadi, saw its stock decline by around 3% to its lowest level since early November. ($1 = 31.2300 baht) (Reporting by Patpicha Tanakasempipat; Editing by Edwina Gibbs)
By Reuters Staff
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KUALA LUMPUR (Reuters) - Malaysia’s Axiata Group Bhd and DiGi.Com Bhd suspended trading of their shares on Thursday, pending a “material announcement”, both telecommunication companies said in exchange filings.
Last month, local newspaper The Star reported citing sources that talks have resumed between Telenor ASA, the largest shareholder in DiGi.Com, and Axiata for a merger between their mobile telecoms unit.
Both parties had explored in May 2019 a potential non-cash combination of their telecom and infrastructure assets in Asia in a new entity, but called off the talks in September.
Reporting by Liz Lee, Editing by Sherry Jacob-Phillips
By Reuters Staff
2 Min Read
TOKYO, March 29 (Reuters) - Japanese shares rose on Monday, lifted by optimism around corporate earnings and U.S. economic recovery, while Nomura Holdings fell the most in a decade after it flagged a potential $2 billion loss.
The Nikkei share average advanced 0.81% to 29,412.24 by 0144 GMT, while the broader Topix rose 0.49% to 1,993.93.
“Investors are buying companies, particularly manufacturers that would benefit from the recovery of the global economy, and whose earnings are set to rise in the coming years,” said Shigetoshi Kamada, general manager for the research department of Tachibana Securities.
Aiding sentiment, the S&P 500 and Dow closed at record highs on Friday on hopes for a recovery in the U.S. economy as vaccine rollouts continue.
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SINGAPORE (Reuters) - Grab Holdings, Southeast Asia’s ride-hailing to delivery giant, is considering a secondary listing in its home market of Singapore after completing a Nasdaq listing via a $40 billion SPAC merger, three sources familiar with the matter said. Listing on Singapore Exchange would enable Grab to have an investor base close to where its regional business is based, the people said, potentially offering its customers, drivers and merchant partners easier access to trade its shares. Grab, a household name across Southeast Asia, is in the early stages of considering a secondary listing in the city-state, said the sources, who declined to be identified as they were not authorised to speak about the matter.