A memo obtained by Reuters revealed Paramount would be laying off 5% of its workers. A memo written to employees of Paramount Pictures revealed that the film studio would be eliminating 110 positions.
Telecommunications
Videocon Telecoms to bid for spectrum in auction
The plan to bid for 900 Mhz band for telecommunications would be done and a business case is to be presented by Deloitte.
Telecom Italia sees Patuano as new CEO to replace Bernabe
In a company announcement, Telecom Italia SpA Chief Operating Officer Marco Patuano was appointed as interim chief executive due to former Chief Executive Officer Franco Bernabe quitting his post yesterday.
Bank Rossiya units seeking purchase of Tele2 from VTB
Applications with the Federal Anti-Monopoly Service was filed by two Bank Rossiya as they bid to purchase shareholdings in Tele2 from state backed bank VTB.
Chairman Fourtou to retire after Vivendi restructuring- newspaper
Vivendi Chairman Jean-Rene Fourtou told Le Monde, a newspaper, that he would be retiring after the company had split into two separate units.
Latest News
Portugal Telecom announced in a statement that it would be merging with Brazilian telecom company Oi.
Vodafone formed a consortium with three Gulf telecommunications firms to activate a 1,400 fiber network in anticipation of the increased demand for broadband services in the region.
Canadian wireless telecom company Mobilicity said on Monday that it had obtained approval of a CAD30 million or USD29.2 million debtor-in-possession financing in preparation of its buyout by an anonymous buyer.
America Movil's plan to acquire Royal KPN encountered price disagreements as KPN's management wanted a higher price for the offer, said sources.
Vodafone Group Plc would appoint Aldo Bisio to be the company's new chief executive for Vodafone's Italian unit.
After its creditors opposing the original auction process for the assets of LightSquared Inc, the new plan was approved by the bankruptcy court.
Telecom Italia, a company considered strategic in the Italian political spectrum, is undergoing a change in leadership.
The new deadline is now at October 31 for the acquisition of Vivendi's shareholdings in Maroc Telecom by Etisalat.
The exclusive discussion for Etisalat’s proposal to acquire Vivendi’s stake in Maroc Telecom had been extended up to October 31.
