Vodafone Gets Fined and 2 Telecom Stocks Seeing Action
MetroPCS Communications (NYSE:PCS): Current price $11.30
There is so far no comment from Deutsche Telekom as to questions regarding whether it will raise an offer by its T-Mobile USA subsidiary for MetroPCS, says The New York Times. In a statement, the German telecom commented, in part, “…Deutsche Telekom continues to believe that its existing agreement with MetroPCS provides compelling value and is in the best interests of MetroPCS stockholders, especially in light of the accelerating turnaround at T-Mobile USA.”
Verizon Wireless (NYSE:VZ): Current price $49.43
Frontier Communications Corporation (NYSE:FTR) has divested its one-third partnership stake in Mohave Cellular to Verizon Wireless, which will now hold a 100-percent ownership of Mohave Wireless. Financials have not been disclosed. Frontier quoted its EVP Revenue Development Melinda White as remarking on the region that it “has grown steadily due to the popularity of Lake Havasu City as a resort, Bullhead City for gaming and Kingman as a business and retirement destination.”
Vodafone Group (NASDAQ:VOD): Current price $28.13
The Department of Telecommunications of India has directed Vodafone Group’s local division and Idea Cellular to cease third-generation services by Monday in a number of service areas which do not hold bandwidth, said Fox Business. The department also imposed a fine of $100.3 million on Vodafone India and 3 billion rupees on Idea Cellular, according to an official who wished to remain anonymous. Vodafone India will have to shut down its 3-gigabyte services in 11 service areas and Idea Cellular in 10.
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