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Peraton is the New Name of Former Harris Corporation Government Services Business

Peraton has been confirmed as the new name of the former Harris Corporation Government Services business, which was acquired by Veritas Capital earlier this year. Click here for more.


Cellular News

India Government Mandates Local Suppliers for Telecoms Kit

India’s government has outlined its plans to offer preferential treatment to local telecoms equipment manufacturers. Click here for more.


cellular-news

France Telecoms Service Report 2017: Operator and Government Focus on Providing Ultra-Fast Speed Mobile and Fixed Broadband to Drive Market Growth – Research and Markets

Research and Markets has announced the addition of the “France: Operator and Government Focus on Providing Ultra-Fast Speed Mobile and Fixed Broadband to Drive Market Growth” report to their offering. Click here for more.


Cellular News

Canadian Government Consulting on a Code of Conduct for Mobile Payments

The Canadian government is planning to make changes to its existing code of conduct for credit and debit cards to include rules for mobile payments. Click here for more.


cellular-news

Italian Government Might Not Block Naguib Sawiris Buying Stake in Telecom Italia

The Italian government has slightly reversed from its previous stance and has now indicated that it might welcome an investment in ailing Telecom Italia from Egypt’s Naguib Sawiris. Click here for more.


cellular-news

Belgian Government sacks Belgacom CEO over criticism

Didier Bellens, Belgacom CEO, was sacked by the Belgian Government on Friday.

Didier Bellens, Belgacom CEO, was sacked by the Belgian Government on Friday.

The CEO of Belgian incumbent operator Belgacom, Didier Bellens, has been sacked by the state Government, which is the firm’s largest shareholder. The announcement was made late Friday by Prime Minister Elio di Rupo, who said that the Government was unable to tolerate the public criticisms that Bellens has recently levelled at it.

According to local reports, di Rupo told journalists that “repeated criticism and incidents have irrevocably undermined the confidence of the Belgian Government in Didier Bellens.”

In a speech last week Bellens likened the Prime Minister’s approach to the Government’s annual dividend from Belgacom to a child holding its hands out in expectation at Christmas. He has also described the government as the firm’s “most difficult” shareholder.

Belgacom issued a statement indicating that management responsibility in the immediate term will be divided between chief financial officer Ray Stewart and chairman of the board Stefaan De Clerck. The search for a full time replacement begins this week.

Reports suggest that the Belgian Government does not want to pay Bellens the hefty severance fee that is written into his contract, which may lead to a length legal dispute between the ousted CEO and his former shareholder.

Telecoms.com

Belgacom Looking for New CEO After Government Sacks Incumbent

Belgium’s Belgacom is to start looking for a new CEO after the government, which owns a majority stake in the firm sacked the incumbent CEO, Didier Bellens. Click here for more.


cellular-news

Canadian government blocks operator sale over “security concerns”

The Canadian government has blocked the sale of MTS Allstream to Accelero Capital Holdings

The Canadian government has blocked the sale of MTS Allstream to Accelero Capital Holdings

The Canadian Federal Government has blocked the sale of Manitoba Telecom Services’ (MTS) business division, MTS Allstream, to Egyptian investment group Accelero Capital Holdings.

The government rejected the transaction due to “unspecified national security concerns”, and has rejected an offer from both MTS and Accelero to take “whatever actions are necessary” to address the government’s concerns.

The Canadian operator announced plans in May to sell it’s business services unit, Allstream, for around $ 393m to Accelero Capital Holdings, which is controlled by Egyptian telecom tycoon Naguib Sawiris.

“MTS Allstream is extremely surprised and disappointed by this decision,” the firm said in a statement.

“MTS Allstream and Accelero have responded openly and constructively to Industry Canada’s requests for information in the 136 days since the transaction was announced, and Accelero has proposed far-reaching, comprehensive and binding undertakings to the Canadian government, including a commitment to invest $ 300 million over three years to pursue Allstream’s capital plans.”

Under Canada’s foreign investment terms, any bid exceeding $ 334m for a Canadian firm must pass a government review to determine that the deal generates a “net economic benefit” to the country. MTS added that it and Accelero believe this transaction is to Canada’s net benefit and, to the best of the firm’s knowledge, would not be injurious to national security.

The operator group said the transaction would have contributed to increased competition in Canada’s telecommunications sector; sent a strong message that Canada’s telecommunications sector is open to foreign investment; provided MTS the capital necessary to increase its investment in Manitoba’s telecom infrastructure; and resulted in $ 165m of funding for MTS pension plans benefitting more than 10,000 Plan members.

Accelero added that the transaction was structured to promote the government’s stated telecom investment policy while seeking to address any of its concerns.

“Throughout this process, we were comforted by Industry Canada that our filings were in order, our submissions complete and constructive, and our proposed binding undertakings serious and substantive so that the transaction would meet the ‘net benefit’ test,” said Accelero co-founder, Naguib Sawiris.

“We are disappointed by the Government of Canada’s unfounded and unexpected decision. Accelero has an impressive track record of successful investments in many of the countries with whom Canada enjoys global strategic partnerships. Accelero founders have previously led the investment of approximately $ 1bn in Canada’s telecommunications sector, beginning with the 2008 AWS spectrum auction.”

Telecoms.com

Slowdown Owing To Controlled Spending From Telecom, Banking And Government

The enterprise storage market was largely driven by Banking, Professional services and Telecom organizations in Q1 2016. However, the quarter witnessed a slowdown in Telecom spending Click here for more.


Cellular News

Sistema Buys Out Russian Government Stake in India’s MTS

Russia’s Sistema is buying the 17.14% stake in India’s Sistema Shyam Tele-Services Ltd (SSTL) currently owned by the Russian government. Click here for more.


Cellular News