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Latest Headlines

Nortel Networks will pay U.S. creditors up to $1B in interest

Nortel Networks Inc., the U.S. unit of bankrupt Canadian vendor Nortel Networks Corp., has agreed to pay U.S. creditors as much as $1 billion to cover interest that investors claim has built up since the company filed for bankruptcy in 2009.

Advisory firm blasts Sprint CEO Hesse's $49M pay package

Proxy adviser Institutional Shareholder Services signaled its opposition to Sprint CEO Dan Hesse's $49 million pay package for 2013. The challenge comes just weeks before Sprint's annual shareholder meeting, scheduled for Aug. 6.

AT&T adds 1M postpaid subs in Q2 as shift away from device subsidies continues

AT&T Mobility added more than 1 million net postpaid subscribers in the second quarter, its best performance in the postpaid market in nearly five years. In contrast to rival Verizon Wireless, which reported second-quarter earnings Tuesday and had tablets make up the bulk of its postpaid adds, the vast majority of AT&T's postpaid adds came from smartphones in the second quarter.

América Móvil quells speculation that it might purchase T-Mobile

América Móvil does not have any plans to acquire a U.S. carrier, the company's management said during the carrier's second quarter earnings call. The statement serves to squash speculation that América Móvil might purchase T-Mobile US with the money it expects to raise through a sale of its assets.

Google business chief Arora departs for SoftBank post

Google's chief business officer, Nikesh Arora, is leaving the company to become vice chairman of Japanese wireless carrier SoftBank. The move overshadowed the release of Google's second-quarter earnings Thursday and is the latest shakeup in the search giant's executive team.

Billionaire Paulson backs a Sprint/T-Mobile deal

Sprint and T-Mobile US reportedly won't announce any kind of merger deal until August, but the potential combination has a major backer in billionaire hedge fund manager John Paulson.

Report: SoftBank, DT reach 'basic agreement' on Sprint/T-Mobile merger

Sprint parent SoftBank and T-Mobile US parent Deutsche Telekom have reportedly reached a "basic agreement" for Sprint to merge with T-Mobile, according to a report in the Japanese business publication  Nikkei.

Verizon to report more than 1.4M postpaid net additions in Q2

During an appearance on CNBC, Verizon Communications CEO Lowell McAdam said the company will report "over 1.4 million" postpaid net customer additions in the second quarter. That's way up from the 941,000 postpaid customers Verizon added in the second quarter of last year.

AT&T to score $5.6B in sale of América Móvil stake to Carlos Slim

Mexican billionaire Carlos Slim will buy AT&T's stake in América Móvil for $5.6 billion, further tightening his grip on the Mexican telecommunications giant. AT&T had been expected to sell its holding in América Móvil as a way to ease regulatory passage of its proposed $49 billion deal for DirecTV.

Samsung's Q2: 'Not that good," according to CFO

Samsung's CFO said that the company's second-quarter earnings are "not that good," according to multiple reports. The surprisingly frank comments likely reflect weakness in Samsung's mid- and low-end smartphone sales in emerging markets, and put a damper on the company's April release of its flagship Galaxy S5 Android smartphone.