Word: telecoms
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With all the turmoil in the Middle East, few took much notice when Egyptian businessman Naguib Sawiris signed a deal last December involving a firm from a neighboring country. This was no routine transaction. Sawiris, CEO of Orascom Telecom Holding SAE, in Cairo, purchased 9.9% of Partner Telecommunications Co. Ltd., in Tel Aviv, considered to be the biggest investment, valued at $150 million, ever made in the Jewish state by an investor from an Arab country. Sawiris expected the rebukes he received from some fellow Arabs for doing business with Israelis even as the Israeli-Palestinian conflict still rages...
...neutrality still has a fighting chance. The telecom bill will be going to the full Senate, where the bloggers have one advantage. The chamber is full of potential candidates for the 2008 Democratic presidential nomination who have been jockeying lately to see who can best woo the bloggers...
...With most Democrats in the Senate lining up behind the net neutrality effort, they may have enough votes to block any telecom bill that doesn't include it from going forward. But the key to actually getting the net neutrality language into the bill will be getting some Republicans to support their cause. (Moderate GOP Senator Olympia Snowe of Maine is one of the few who currently does.) Republicans have plenty of their own potential 2008 candidates who appreciate the power of blogs. Bill Frist posts on his own site frequently (volpac.org) and John McCain made his first foray into...
...bizarre. After all, fixed-line phone operators are plagued by low growth, ferocious competition and disruptive Internet technologies, making them hard to love?and PCCW is no exception. In the past six years, its stock price has crashed by 65%; last year, PCCW's consolidated revenue for its telecom operations crawled up by a paltry 1%. But if there's one positive thing to be said for such businesses, it's that they're dependable generators of cash. "Fixed-line companies are effectively like utilities," says John Heagerty, a Sydney-based financial-services analyst at ABN AMRO Securities. "They have...
...Adding PCCW to this expanding portfolio may prove trickier. The news that Macquarie was negotiating with PCCW chairman Richard Li, son of Hong Kong tycoon Li Ka-shing, for his telecom business (which includes a mobile-phone operation and a promising Internet-TV venture) immediately drew a rival bid from private-equity firm Texas Pacific Group and its Asian affiliate, Newbridge Capital Group. Not only does Macquarie have a rival suitor, but the Chinese government may also fatally complicate the deal. That's because China Network Communications Group, one of China's state-owned telephone companies, has a 20% stake...