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Spanish telecom operator MasMovil agrees $3.3 billion private equity bid KKR, Cinven and Providence have made their Public Acquisition Offer for Spanish telecoms operator MasMovil. The three venture capital funds have proposed to pay EUR 22.5 per share of the telco, which is valued at almost EUR 3 billion. According to the statement, KKR, Cinven and Providence will pay a 20 percent premium on the current MasMovil share price. Meinrad Spenger, MasMovil Chief Executive, said that they have signed an agreement with the bidders on a deal which would be “beneficial for the shareholders and other stakeholders in the company.” Furthermore, the bidders noted that they would maintain continuity in MasMovil’s strategy, staff and executive team. Read more at https://tinyurl.com/y754vsc9 Google Cloud signs major UK government deal The technology giant Google Cloud has signed a Memorandum of Understanding (MoU) with the Crown Commercial Service (CCS) to make its cloud solutions…

According to a report by the US-based Pew Research Center, nine out of ten South Koreans own a smartphone, indicating the highest level of smartphone usage in the world. The study revealed that a staggering 95 percent of the population in South Korea has a smartphone, while the remaining 5 percent of the nation uses a mobile phone without access to the Internet. More than 30,133 people in 27 countries took part in the survey conducted last year. It transpired that three out of four adults used smartphones in 18 developed countries. According to the survey, Israel came in second with 88 percent, followed by the Netherlands with 87 percent, and Sweden with 86 percent. Australia, the U.S., Spain, Germany, Britain, France, Italy, Argentina, Japan and Canada followed, with the ownership of smartphones ranging from 81 percent in the U.S. to 66 percent in Canada. Among the advanced…

Grand X, a subsidiary of the leading South Korean mobile operator Kakao, has unveiled the test version of their blockchain platform called Klaytn. At the moment, the testnet version of this service-centered blockchain platform has only been offered to 10 partners of Kakako, along with a publicly available whitepaper to outline the network potential and capabilities. If all goes well, the mainnet version of the network is expected to be launched in the first quarter of 2019. According to the information in Klaytn’s whitepaper, this network focuses on a seamless user experience for all parties, including developers and end users. “The popularization of blockchain requires providing a practical blockchain service for mass adoption thereby validating the value and utility of blockchain technology. To achieve this, Ground X has designed Klaytn that can provide an easy and friendly environment for end users, service providers and developers all at…

The South Korean mobile carrier, KT (formerly Korea Telecom) has unveiled the world’s first blockchain-based commercial network, as reported by the Korean Herald. The telecom giant has implemented a blockchain layer on top of their ultra-speed nationwide commercial network to ensure maximum security and transparency for retail and business users. “Public blockchains have low processing speed and capacity, while private blockchains have low transparency. By applying blockchain onto our ultra-fast network, we have overcome both obstacles,” commented the head of the Blockchain Center at KT’s Institute of Convergence Technology, Seo Yeong-il. The mobile carrier expects to achieve the impressive number of 100 000 transactions per second by the end of 2019, while their current blockchain network capability is 2500 transactions per second. Furthermore, KT has already implemented this disruptive technology in their user identification process, eliminating the need for personal IDs and passwords. The company is also working closely with…

The auction for 100MHz of spectrum in the 3.5GHz bandwidth were sold to SK Telecom and KT, and on the other hand, LG Uplus received 80MHz of spectrum in that same bandwidth. The total amount that was raised by the auction was a little lower than anticipated with $3.6 billion. The Ministry of Science and Information and communication technology sold by auction 280MHz of spectrum in the 3.5GHz bandwidth and will later sale 2,400MHz in the 28GHz band. 5G networks will certainly reach South Korean as one of its first market to be launched on. The next few months and years will be important for SK telecom and KT. They want to make sure that South Korea will be “first for 5G” with an expected March 2019 as a deadline to start launching the news high speed network.