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…
Telecom Italia CEO Marco Patuano on Friday indicated that he is keen to see consolidation in the Italian mobile market, but he is not pinning all his hopes on a quick resolution.
“I have a couple of good bottles of champagne in my refrigerator just in case,” he said in response to a question about consolidation at an event in London at which he presented the telco’s latest three-year plan.
As it stands, there are two mobile network operators in Italy focusing on quality while the other two are still seeking to compete on price, he explained. A reduction in the number of players would bring that situation to an end.
“It’s better to have three players all working on quality, all investing,” Patuano said. That might lead to Telecom Italia losing its differentiator, but the operating environment would be better, he said. “[There is] a lot of value you can unlock in such a case.”
“I will not be part of the consolidation,” he added. Original post at Total Telecom