Xavier Neil, the French telecom magnate, is seeking financing to acquire the remaining 80% of Latin American telecom group Millicom through his investment vehicle, Atlas. The move was disclosed after media reports surfaced, prompting an official statement from Atlas Investissement. The statement confirmed that Atlas is exploring a cash tender offer for Millicom, aiming for a purchase price of $24 per share.
South Korea’s President Yoon Suk Yeol revealed a historic $19 billion support package aimed at bolstering the nation’s semiconductor sector, underscoring the industry’s critical role in the economy. The substantial investment, facilitated by the state-run Korea Development Bank, will enhance infrastructure, research and development, and offer tax incentives.
Leading tech companies Google, Meta, Microsoft, and Salesforce have announced the formation of the “Symbiosis Coalition,” a collaborative effort aimed at reducing their carbon footprints through nature restoration projects. The coalition has pledged to secure up to 20 million tons of nature-based carbon removal credits by 2030.
Ofcom has fined BT £2.8 million after its subsidiaries, EE and Plusnet, failed to adhere to consumer protection regulations. The UK regulator’s investigation revealed that both companies neglected to provide clear contract details to numerous customers before they signed up for services.
BT has announced a two-year delay in the shutdown of the UK’s copper-based phone lines, now scheduled for 2027 instead of the original 2025 target. The decision was subtly revealed in the company’s 2023 financial results and later confirmed through a press release.
EchoStar Corporation has landed a substantial contract to supply mobile devices and services to the US Navy, valued at up to $2.7 billion over the next decade. This deal, though not a complete solution to the company’s financial woes, is a significant positive development amid ongoing challenges.
AT&T takes a significant leap forward in its plans to offer satellite direct-to-phone services following the finalization of commercial terms with low Earth orbit (LEO) operator AST SpaceMobile. The agreement sets the stage for AT&T to provide non-terrestrial network (NTN) coverage through SpaceMobile’s constellation until 2030. Although a firm launch date for SpaceMobile’s network is yet to be confirmed, AT&T anticipates the delivery of the first commercial satellites to Cape Canaveral this summer.
Virgin Media O2 and Crown Commercial Service have inked a new Memorandum of Understanding aimed at enhancing technological and telecommunications solutions to bolster digitalisation efforts within the UK Government and the wider public sector. CCS, a government body responsible for aiding public sector procurement, has been pivotal in organizing the purchase of common goods and services across various organizations.
Quickline, the UK broadband operator, has successfully connected the initial homes to its Project Gigabit-funded full fibre network in Yorkshire, achieving this milestone less than three months after securing the contract. This achievement, although modest in scale, signifies a promising acceleration in the UK government’s fibre broadband initiative.
In a significant move to bolster its presence in Europe, Amazon Web Services (AWS) has announced a substantial investment of €7.8 billion into the AWS European Sovereign Cloud project, extending through 2040. This initiative, unveiled last October, aims to establish an autonomous cloud infrastructure within the European Union (EU), operated independently to ensure data sovereignty for European customers.
