Vodafone to Buy Hutchison Essar Stake and Alcatel-Lucent Entrenches #2 Position in Global IP/MPLS Edge Market
18 February 2007
Wireless Communications industry news provided by Financial News USA (OTC: FNWU). Britain's Vodafone Group PLC (NYSE:VOD) has agreed to buy a 67 percent controlling interest in Hutchison Essar Ltd., one of India's leading cell phone companies, for $11.1 billion, Vodafone said Sunday. Hutchison Telecommunications International Ltd. -- a holding company of Hong Kong based Hutchison Whampoa-- agreed to sell its stake following a meeting Sunday to assess competing bids. FTS Group, Inc. (OTC BB:FLIP), an acquisition and development Company operating in the wireless, technology and Internet space, recently closed its acquisition of a profitable ring tone network. FTS Group Chairman and Chief Executive Officer Scott Gallagher commented, "The ring tone network acquisition is a key part of our strategy to grow FTS Wireless and diversify its revenue stream into Internet wireless phone and accessory sales and mobile content."
Alcatel-Lucent (Euronext Paris and NYSE: ALU) recently announced that, according to data from Ovum-RHK for the global IP/MPLS Edge market, it has strengthened its #2 position during the fourth quarter of 2006 and established itself as the clear alternative in IP by securing a solid #2 position for the full year. According to Ovum-RHK, Alcatel-Lucent garnered 19% of the IP/MPLS Edge segment during Q4 06 and secured 17% market share for full year 2006, more than doubling market share vs full year 2005. Virgin Media (NASDAQ: VMED), a major new force in entertainment and communications, launched this morning, pledging to shake up the industry and to offer consumers quality, value, innovative products and outstanding customer service. For the first time, one company will be able to deliver a simple, one-stop solution to meet consumers' entertainment and communications needs, providing cutting-edge digital TV services, unlimited broadband, home phone and a feature-packed mobile service.
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