Word: telecoms
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Naguib Sawiris likes to think of himself as a Middle Eastern Richard Branson. Last year the Egyptian entrepreneur started Iraq's first mobile-phone network. After just six months, his company, Orascom Telecom, already had more than half a million subscribers, earning $95 million before taxes and interest. Like Branson, Sawiris is a music lover--he calls himself a "party animal"--and has a taste for risky ventures...
SENTENCED. SCOTT SULLIVAN, 43, former chief financial officer who admitted to engineering Worldcom's $11 billion accounting fraud; to five years in prison; in New York City. Sullivan, who had been facing a jail term five times as long, received leniency in return for his pivotal testimony against the telecom's former CEO, Bernie Ebbers, who was sentenced last month to 25 years in prison...
...general content firms, insists Kessler: "Not everyone is going to be a winner." To investors, that should seem oddly familiar. - By Adam Smith Phone Lines In The Sand Even with electricity and security uncertain in much of Iraq, telecommunications remains a serious business. In London last week, scores of telecoms companies turned their attention to the sizable Iraqi market as Baghdad's National Communications and Media Commission (NCMC) opened consultations on the award, later this year, of as many as five mobile-network licenses. Potential bidders include Bechtel, Lucent Technologies, MCI, Nokia, Nortel and Persia Telecom. In a country where...
Melbourne-based Telstra's new CEO, Sol Trujillo, 53, will need to steer the telecom giant through some daunting challenges, namely Parliament, privatization and protocol. An IP-based network might help Telstra remain competitive and fully integrated. But a stagnant share price and warnings of an industry slowdown might push the former head of US West to cut costs (and jobs) as the government sells its remaining 51.8% stake, worth $25 billion. More foreign investment could raise Telstra's share price. That, and other regulations, should be decided by Parliament in August...
...secure the terrestrial rights for the top Italian clubs for the next three years. Viewers watch the games by inserting a prepaid card (six matches for $22) into a digital box. Since January, the company has sold more than 1.5 million cards. The idea is catching on: the Telecom Italia-owned La7 station sells a similar card that lets viewers see smaller teams play. --By Jeff Israely/Milan