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.
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 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 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'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.
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.
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.
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.
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 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.