Dec 04, 2012 (AME Info - McClatchy-Tribune Information Services via COMTEX) --
IPHONE 5 TO OFFICIALLY GO ON SALE DEC 14 IN GCC: Apple has announced that it will officially launch the iPhone 5 for sale in the GCC on December 14. The announcement comes more than two months after the initial launch of the smartphone in the US and other markets. The California-based technology giant said the device would be rolled out in more than 50 markets this month. The iPhone 5 is the thinnest and lightest iPhone ever, featuring an A6 chip and an improved battery life.
ASIACELL TO LAUNCH IPO EARLY NEXT MONTH: Iraqi telecom operator Asiacell has said it will launch its long-awaited initial public offering (IPO) on January 3, in what is likely to be the country's largest-ever share sale, Reuters has reported. Asiacell, a subsidiary of Qatar Telecom (Qtel), aims to sell a quarter of its stock in the IPO and will list on the Iraq Stock Exchange on February 3, a company spokesman said. Asiacell and rival operators Zain Iraq and France Telecom affiliate Korek had been required to float a quarter of their shares by August 2011 as part of their $1.25bn licence agreements.
BATELCO TO ACQUIRE CWC ASSETS FOR $1BN: Batelco has said it has agreed to buy the assets of Cable & Wireless Communications (CWC) in a deal worth up to $1bn, hoping growth overseas will offset falling revenue and market share at home, Reuters has reported. The state-controlled firm will buy CWC's Monaco and Islands division, which own stakes in telecom operators in 12 markets including the Maldives, Channel Islands and the Seychelles, providing fixed-line, mobile, broadband and television services. It will also buy a 25 percent shareholding in Compagnie Monagesque de Communications (CMC), which holds CWC's 55 percent interest in Monaco Telecom. Monaco Telecom in turn holds a 36.8 percent stake in Roshan, a mobile phone operator in Afghanistan. "Batelco's revenues and earnings are going down and the company is looking at cost reduction and restructuring to boost its margins," said a Middle East telecom analyst. "Batelco wanted to buy brownfield operations (established businesses), it didn't want new licences, and there aren't many available at the $1bn ticket range."
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