Financials

Telecom Egypt has no plans to sell stake in Vodafone
Speculation had been mounting over a potential divestment but Telecoms Egypt confirmed that it had received no firm offers to take over its 45% stake in Vodafone Egypt
Buoyed by Red Hat acquisition, IBM sees strong growth in cloud based revenues
IBM recorded strong growth in the fourth quarter of 2019, particularly in its cloud services segment
Vodafone Idea’s share price drops 26%, as government rejects pleas for AGR relief
India’s telcos have until next week to begin payment of around $13 billion of dues to the country’s Department of Telecoms, following a Supreme Court ruling late last year.
Huawei to splash $26 million on developing alternatives to Google apps
The Chinese tech giant is currently unable to use Google’s suite of Android based apps and services in its newest model handsets
Vodafone Idea diverts funds from rights issue to pay off AGR dues
Vodafone Idea must make payment of around $750m to India’s Department of Telecoms by the 23rd January
Nigeria’s Attorney General drops $2bn tax claim against MTN Group
Shares in MTN Group jumped by around 5 per cent to 8,367 rand per share, as Nigeria’s Attorney General dropped its immediate demands or payment of $2 billion in back taxes.
Huawei could raise $2bn in new finance, despite US pressure
Huawei is currently the world’s most prolific producer of 5G network components
Indian telcos request open hearing as they attempt to overturn $13bn AGR ruling
India’s Supreme Court recently ruled that telcos must recalculate their Adjusted Growth Revenues, creating $13 billion of outstanding dues in one fell swoop
Indian telcos call on government to urgently prioritise low cost borrowing
India remains one of the world’s most competitive telecoms markets, with telcos struggling to balance the competing demands of ultra-fine margins with the huge capital investment demands associated with 5G