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…
Numericable’s commitment to opening up its cable network will suffice to safeguard competition, regulatory body rules.
French competition authorities on Thursday gave the go-ahead to Numericable’s planned acquisition of Virgin Mobile France, noting that any competitive threats would be mitigated by the conditions it imposed on the Numericable/SFR tie-up a month ago.
Numericable inked a deal to buy virtual mobile operator Virgin in June.
The deal could be construed as a threat to competition in the market for bundled services if Virgin Mobile customers were given preferential access to Numericable’s multi-play TV and broadband services, the Autorité de la concurrence said.
However, since Numericable has agreed to open up its cable infrastructure to rival operators, including mobile virtual network operators (MVNOs), as part of its takeover of SFR, that risk has already been addressed, the authority ruled.
Numericable’s parent company Altice agreed to pay €13.5 billion for mobile network operator SFR in April and got the green light from the competition authority in late October, subject to certain conditions. The most significant is the requirement for Numericable to open up its cable infrastructure to rival players to prevent it from taking a dominant position in the consumer high-speed broadband market.