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Euronews: BT Banks £159M From Stake Sale

BT Group plc (NYSE: BT; London: BTA), Deutsche Telekom AG (NYSE: DT), AimValley BV, ZTE Corp. (Shenzhen: 000063; Hong Kong: 0763) and Iliad (Euronext: ILD) close out the week's collection of regional news snippets.

  • BT has raised £158.6 million (US$251.2 million) from the sale of a 14.1 percent stake in Indian Service Provider Information Technology (SPIT) specialist Tech Mahindra Ltd. and it may not be done yet. "Following this sale, BT has a 9.1 percent shareholding in Tech Mahindra, but further sales may be considered in the future," the operator stated in an announcement to the London Stock Exchange. It also added: "Tech Mahindra remains a key supplier to BT." (See Tech Mahindra Wins BT Deal.)

  • Still with BT, the U.K. operator has struck an interconnect agreement with Russia's Rostelecom .

  • Deutsche Telekom announced an exclusive partnership with Spotify during the IFA consumer electronics tradeshow in Berlin. In addition, and following the launch of Joyn services by Vodafone Germany earlier this week, DT confirmed that it plans to launch its Rich Communication Suite (RCS) services in December. The German giant also unveiled a revamp of its TelekomCloud service and Entertain to go, an extension of its IPTV service to mobile devices such as tablets, smartphones and laptops. (See Vodafone Joyns Fight Against OTT Threat .)

  • Dutch optical and packet device vendor AimValley BV has teamed up with Alcatel-Lucent (NYSE: ALU) to publish an Internet Engineering Task Force (IETF) draft standard for Transparent SDH/Sonet over Packet (TSoP) circuit emulation capabilities. (See AimValley Proposes TSoP Standard.)

  • ZTE will launch its first Intel-powered Android Ice Cream Sandwich smartphone, the Grand X IN, in Europe during September.

  • No wonder its rivals have been feeling the heat. French competitive operator Iliad signed up 3.6 million mobile customers, more than 5 percent of the country's total wireless market, in less than six months. The operator, which trades under the brand Free, generated €320 million ($403 million) in revenues from its new mobile business during the first half of this year. Its group revenues reached €1.44 billion ($1.8 billion), up 39 percent year-on-year, while its net profit dropped 45 percent to €80 million ($100.7 million). See this press release for the full details. The operator, which has 5.15 million fixed broadband customers, recently agreed to a major loan from the European Investment bank to help fund its fiber-based broadband rollout. (See France's Free Banks on FTTH.)

    — Ray Le Maistre, International Managing Editor, Light Reading

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