Britain’s sale of mobile-phone frequencies, potentially raising 2.6 billion pounds ($4.3 billion), may force Hutchison Whampoa Ltd. to pay a “survival premium” as competition among the four operators intensifies.
Newedge USA LLC, the broker with the most U.S. segregated customer funds, will pay $700,000 to resolve regulatory claims that the firm submitted flawed trader reports and violated an earlier order to improve accuracy.
Telefonica SA’s O2 mobile-phone unit and Hutchison Whampoa Ltd.’s 3 said U.K. antitrust regulators, rather than the European Union, should review a proposed merger of France Telecom SA and Deutsche Telekom AG’s U.K. operations.
Singapore Telecommunications Ltd. is revamping its Australian unit, where a drop in revenue and customer spending prompted Southeast Asia’s biggest phone operator to forecast its first annual sales drop in 13 years.
Hutchison Whampoa Ltd.’s incoming Chief Executive Officer for its 3 U.K. unit said he will pay a “fair price” in the upcoming auction of mobile-phone frequencies if the government continues to promote competition.
Hong Kong billionaire Li Ka-shing ’s Hutchison Whampoa Ltd. said U.K. regulator Ofcom’s decision to open more frequencies for fast-Internet technology could distort the mobile-phone market and may lead to further consolidation.
Singapore Telecommunications Ltd.’s Optus unit, Australia’s second-largest phone company, will cut about eight percent of jobs to reduce costs as it restructures to focus on customer service amid increased competition.