Nytex

In Brief:Oi earnings slump, restructuring plan imminent 

Oi reported a hefty decline in second-quarter earnings, but there were indications that a reorganisation plan will be presented to creditors within the next month.
The Brazilian mobile operator,which filed for bankruptcy protection in June,reported EBITDA of 1.44 billion reais (€410 million) in Q2, down by 24.4% on the year-ago quarter.Revenues declined by 3.8% to BRL6.52 billion, while the company posted a consolidated net loss of BRL656 million, compared with a BRL442 million loss in the same period of 2015.
Oi's headline figures were affected to an extent by a declining customer base.

***Telenor has launched 4G services in select areas of major cities in Pakistan.
The Norwegian telecoms operator said it has made services available in parts of Karachi, Lahore, Islamabad, Multan, Peshawar and Swat.
As it stands, 4G Internet usage is free to all users, Telenor Pakistan said. This is a limited time offer, although it did not disclose when it expects to bring it to an end. Its parent company simply said that "exciting 4G offers are planned for customers with announcements coming in the near future."

***Etisalat has completed the sale of its Sudanese business Canar Telecommunication Company.
It offloaded a 92.3% stake in the telco for 349.6 million dirhams (€85 million) to the Bank of Khartoum, which already held a 3.7% stake, it disclosed in a statement.
The United Arab Emirates-based telco group's exit from Sudan has not been straight forward.In May Etisalat agreed to sell its Canar stake to Zain Sudan, the country's largest mobile operator,for the same sum.

***Nigeria, Africa’s largest mobile market by subscribers, ended June 2016 with a total of 149.18 million active GSM lines, an increase of 1.8% from 146.49 million twelve months earlier. According to the latest figures from the Nigerian Communications Commission (NCC), South Africa-based MTN remained the mobile market leader with a total subscriber base of 58.41 million at mid-2016 (a 39% of total GSM users), followed by locally-owned wireless operator Globacom with 36.32 million users (24%), Airtel Nigeria – a subsidiary of Indian telecoms group Bharti Airtel – with 31.98 million subscribers (21%) and finally Etisalat Nigeria with 22.47 million users, giving it a GSM market share of 15%.

***Vietnam: Thuraya Telecommunications has announced the signing of an agreement with VNPT-Vinaphone for the establishment of mobile satellite and maritime communication services in Vietnam. The deal will give the Vietnamese telecoms operator 100% coverage of the country’s territory, including its islands and mountainous areas, as well as coverage of ‘two-thirds of the world’ by utilising Thuraya’s network. With the satellite mobile and post-paid Vinaphone SIM, customers will be able to make voice calls, send SMS and use GPS from any location in Vietnam.