Nytex

In Brief:Telenor admits 'insufficient' handling of VimpelCom case 

Telenor is letting its CFO and general counsel go following a report showing the company failed to respond quickly to indications of corruption at its affiliate Vimpelcom. Telenor's board hired Deloitte Advokatfirma in November 2015 to investigate its handling of the allegations. The report found that Telenor’s handling of the VimpelCom ownership was "insufficient".

***Telenor is letting its CFO and general counsel go following a report showing the company failed to respond quickly to indications of corruption at its affiliate Vimpelcom. Telenor's board hired Deloitte Advokatfirma in November 2015 to investigate its handling of the allegations. The report found that Telenor’s handling of the VimpelCom ownership was "insufficient".

***Spain's self-styled fourth convergent operator Masmovil has given its mobile and broadband customer base a boost with the acquisition of fellow MVNO Pepephone. Masmovil will pay €158 million in cash for Pepephone, including a €20 million instalment it has already transferred.The deal will add 460,000 mobile customers and 35,000 broadband connections to Masmovil's base. On completion of the transaction, Masmovil will have a mobile customer base of close to 1 million and around 60,000 broadband customers, while full-year revenues will come in in excess of €200 millions.

***Xinwei Telecom Enterprise Group of China has announced that it has finally launched mobile services in Nicaragua, operating under the CooTel brand name. Official government media outlet El Digital 19 quotes the general manager as saying that the telco has installed 1,000 base transceiver stations (BTS) on utility poles belonging to the state electricity company. Xinwei has made an initial investment of USD200 million and created 300 jobs. The launch sees Xinwei go head-to-head with Telefonica-backed Movistar and America Movil (AM)-subsidiary Claro.

***The government of Kyrgyzstan will auction 100% of its shares in Alfa Telecom (Megacom) – the country’s largest mobile operator by subscribers – on 11 May 2016, according to the country’s Fund for State Property Management. The deadline for applications is 10am on 10 May, while the bidders will be announced at 11am the same day, and the Fund notes a starting price for the tender has been set at KGS19 billion (USD781 million).