Japanese telecom gaint Softbank recorded a loss of $350 million for last nine months of 2016 in the fair value of the Company’s investments in India. The loss comes on top of a $555 million writedown on the value of Softbank’s India portfolio in the six-month period ending September 2016. “With reference to the current markdown, portfolio…
German firm acquires 235,000 customers in ‘double-digit millions’ of euros deal.
Drillisch has moved to boost its position in Germany’s mobile market, announcing late last week the acquisition of Yourfone, a sub-brand owned by Telefonica.
The company – a telecoms services reseller and mobile virtual network operator (MVNO) – revealed in a stock exchange announcement that it has agreed to pay “mid to high double digit millions” of euros for Yourfone. The transaction is subject to final approvals and is due to take place in January, Drillisch said.
Under the terms of the deal, Drillisch will acquire Yourfone’s brand and its 235,000 active customers.
Yourfone is a mobile sub-brand that was owned by E-Plus; as such it became part of Telefonica when the Spanish telco acquired E-Plus in October. Original post at Total Telecom