Level 3 SHOULDERING Heavy Burden and 4 Telecom Titans Attracting Interest
AT&T, Inc. (NYSE:T): SundaySky, creator of SmartVideo, a premier communications holding company, and its customer AT&T, announced the joint win of the Global Telecom’s Business 2012 Consumer Service Award, Consumer Billing Innovation.
Sprint Nextel Corp. (NYSE:S) is partnering with Computer Sciences (NYSE:CSC) to offer a cloud infrastructure solution which will feature Sprint’s Complete Collaboration IP Communications Solution. The service will rely on Sprint’s wire line network, and a launch is planned for the second half of the year. The companies are entering a crowded market that includes Amazon, Google, Microsoft, Rackspace, AT&T, and Verizon.
Verizon Communications Inc. (NYSE:VZ): Citing people with knowledge of the situation, Reuters reports that the FCC is set to approve Verizon Wireless’ s plan to buy airwaves from cable companies. They will, however have to convince the Justice Department that the deal will not lead to higher prices for consumers. The shares traded up $0.09 (0.20%) recently at $44.79.
Vodafone Group plc (NASDAQ:VOD): The Finance Ministry’s meeting to decide on a response to Vodafone’s rejoinder is over. Sources said that their reply will be not sent to the PMO for approval, as reported by CNBC-TV18’s Aakansha Sethi. Vodafone had sent a notice to the government that invoked the bilateral investment treaty with the Netherlands, saying that the retrospective amendment was not in the spirit of the BIPA. In a response to this, the government replied, as per a Supreme Court order, that they have already refunded the money. Consequently,Vodafone sent another rejoinder, to the Ministry, saying that since the money was returned, they would like a notice stating that the retrospective amendment not be applied to them.
Level 3 Communications Inc. (NASDAQ:LVLT): With their stock down about 40 percent, and incurring hundreds of millions of dollars in negative free cash flow, Level 3 Communications Inc. can’t hide the fact that they are burdened by debt, and analyst Rex Moore of The Motley Fool is one investor who is bearish about their prospects. According to a Securities and Exchange Commission filing, the company has a total debt obligation of $8.5 billion.
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