Telia sells remaining Vodafone shares
STOCKHOLM, Sweden-Telia said it sold the remaining 66.5 million Vodafone shares it owned for about $147.1 million.
When Irish telecom operator Eircom disposed of its mobile business, Eircell, Eircom shareholders were offered Vodafone shares as consideration. Telia, which indirectly holds 14 percent of Eircom consequently received 146.5 million Vodafone shares in May. It sold 80 million of the shares later in May.
Indian operators to merge
BOMBAY, India-Two Indian mobile-phone firms announced plans to merge their operations and create the nation’s largest mobile provider. BPL Communications and Birla-Tata-AT&T, a three-way venture formed last year, will combine their companies and have about 1 million total subscribers or one-fourth of the country’s total subscribers.
The new company is valued at $2 billion. Birla-Tata-AT&T will hold 50.68 percent of the new venture, with BPL holding the rest.
Consolidation in India’s lucrative mobile market has been under way for some time.
Brazil reduces license fee
SAO PAULO, Brazil-Brazil’s Anatel reduced the base price for a nationwide personal communications service license 7 percent to $952 million. The Band C license is set to be auctioned in August.
