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Telefonica CEO resigns from TI board over Brazil conflict

first_imgHome Telefonica CEO resigns from TI board over Brazil conflict Previous ArticleSprint mulling T-Mobile bid — reportNext ArticleAppsfire switches focus from discovery to ads AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 16 DEC 2013 Español Telefonica bolsters blockchain security Ken Wieland Telefónica refuerza la seguridad de las cadenas de bloques Relatedcenter_img Ken has been part of the MWC Mobile World Daily editorial team for the last three years, and is now contributing regularly to Mobile World Live. He has been a telecoms journalist for over 15 years, which includes eight…More Read more Luz verde a la fusión entre Telefónica y Liberty Global en el Reino Unido Author Tags Cesar Alierta (pictured), Telefonica’s CEO, stepped down from Telecom Italia’s board in the hope of diffusing a row over an alleged conflict of interest in Brazil where the two operators compete.Julio Linares, a former chief operating officer at Telefonica, joined Alierta in resigning from the Italian incumbent’s board.Both departures come into effect immediately.The two resignations come on the heels of Cade, Brazil’s anti-trust watchdog, turning up the heat on Telefonica.Aggrieved that the Spanish and Latin American operator had broken a 2010 agreement not to raise its stake in Telecom Italia, the parent company of TIM Brasil – which is the second-largest mobile operator in Brazil – Cade ruled that Telefonica must either exit its stakeholdings in TIM Brasil or get a new partner for its Vivo mobile subsidiary.Vivo, controlled by Telefoncia, is the largest mobile operator in Brazil.Combining its Vivo interest with direct and indirect stakeholdings in Telecom Italia, Telefonica controls more than half the mobile market in Brazil – something which Cade wants to redress.For good measure, Cade slapped a BRL15 million ($6.3 million) fine on Telefonica for raising its stake in Telecom Italia, as well as fining TIM Brasil BRL1 million.“Alierta and Linares’s move makes sense as it not only addresses immediately Cade’s decision but also tries to prove to Italian market regulator Consob that Telefonica isn’t in a conflict of interest,” Andrea Giuricin, a professor who specialises in media and telecommunications at Milan Bicocca University, told Bloomberg in a phone interview.Cade reportedly wants to trim back Telefonica’s position in Brazil’s mobiile market to its pre-2010 level.At that time Telefonica held half of Vivo and a minority stake in Telco (the company that owns 22.4 percent of Telecom Italia).By increasing its Telco stake, however, Telefonica gained effective control of the Italian incumbent.Sensitive to the perceived conflict of interest, Bloomberg reports that Alierta and Linares used to leave the room when Brazil was discussed during Telecom Italia board meetings.How far the two boardroom resignations will diffuse the row is unclear. Telefonica is still reportedly considering taking legal action to stop Brazil’s authorities from forcing the operator to loosen its grip in the country.Shareholder shuffling?The exit of Alierta and Linares comes at a time of shareholder wrangling at the Italian incumbent.Telecom Italia shareholders are due to meet on 20 December to vote on a motion by Marco Fossati’s Findim Group, a minority investor (holding about 5 per cent equity).The motion is an attempt to remove the current board, stating that Telefonica and its Telco partners have too much influence over the Italian operator.There also seems to be some confusion as to how much equity BlackRock – the world’s biggest investment manager – holds in Telecom Italia.BlackRock, in an email sent today (16 December),  and cited by Bloomberg,  said it had a 7.78 per cent stake in Telecom Italia as of yesterday.An SEC filing dated on 9 December, however, showed BlackRock holding a 10.14 per cent stake.The investment firm said the discrepancy was due to some bonds that can be converted into Telecom Italia shares.BlackRock maintained these aren’t relevant to disclosure obligations (needed when individual stakes rise above 10 per cent) because the shares into which the bonds will be converted haven’t yet been issued. BlackRockBrazilFinancialRegulatoryTelefonicaTelefonica ItaliaTIMVivolast_img read more

Verizon, SAP ready industrial 5G trials

first_img Amazon reels in MGM 5GSAPVerizon AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore3 14 DEC 2020 Mobile Mix: Buzzing for Barcelona Verizon expanded a collaboration with SAP to cover how mmWave 5G and edge computing could be used to improve supply chain operations across a range of vertical industries.Using a network installed at a SAP R&D laboratory in the US, the companies plan to conduct trials covering improving operations on factory floors, distribution warehouses and retail stores. Initial tests will focus on retail stocking, shelf layout, and predictive quality and maintenance.A variety of ecosystem players are set to contribute to the trials, including system integrators, technology partners and industry specialists.The move builds on a collaboration deal Verizon and SAP inked in late 2019 focused on the development of next-generation IoT analytics systems.Debika Bhattacharya, VP of 5G and enterprise solutions at Verizon, stated the latest work would help provide new services to “verticals ranging from retail to manufacturing”.SAP’s lab is one of four on-site 5G Innovation Hubs Verizon has set up for customers: the operator also runs six of its own labs in the US and UK.Verizon executives previously tipped testing and deployment of 5G applications to ramp from late 2020, with significant revenue from enterprise use cases expected in 2022. Subscribe to our daily newsletter Back Tags Author Previous ArticleReddit ups video play with Dubsmash buyNext ArticlePartner Interview: Marvell Verizon shuffles executives Diana is Mobile World Live’s US Editor, reporting on infrastructure and spectrum rollouts, regulatory issues, and other carrier news from the US market. Diana came to GSMA from her former role as Editor of Wireless Week and CED Magazine, digital-only… Read more Diana Goovaerts Related Home Verizon, SAP ready industrial 5G trialslast_img read more