Integrated Telecommunications Services
Rostelekom OAO to Merge with Wholly Owned Subsidiary-SKRIN
SKRIN reported that Rostelekom OAO has decided to merge with its wholly owned subsidiary, NATSIONAL'NYE TELEKOMMUNIKATSII OAO.
Key West Global Telecommunications Bhd Announces Application To Strike-Off Name Of Full Deal Sdn. Bhd. From Register Of Companies Commission Of Malaysia
Key West Global Telecommunications Bhd announced that the Full Deal Sdn. Bhd. (Full Deal or the Subsidiary), a wholly-owned subsidiary of the Company has on May 16, 2013 submitted an application to the Companies Commission of Malaysia (CCM) for Full Deal to be struck-off from the Register of CCM pursuant to Section 308 of the Companies Act, 1965. Full Deal was incorporated in Malaysia under the Companies Act, 1965 as a private limited company. The authorised share capital of APT is MYR100,000 comprising 100,000 ordinary shares of MYR1 each of which MYR2 is fully paid-up in the form of 2 ordinary shares of MYR1 each. Full Deal is 100% wholly-owned by KeyWest and it has not commenced business since incorporation.
Key West Global Telecommunications Bhd Announces Dissolution Of Wholly Owned Subsidiary
Key West Global Telecommunications Bhd announced that with reference to the announcement dated November 18, 2011, the Board of Directors of KeyWest wishes to inform that KeyWest has submitted an application to the relevant authority on May 6, 2013 to dissolve Solomon Corporation, a wholly owned subsidiary Company incorporated in the Federal Territory of Labuan. Solomon Corporation has remained dormant since its incorporation.
Key West Global Telecommunications Bhd Announces Dissolution Of Wholly-Owned Subsidiary
Key West Global Telecommunications Bhd announced that reference is made to the Company’s announcement dated November 18, 2011, the Board of Directors of KeyWest wishes to inform that KeyWest has submitted an application to the relevant authority on May 6, 2013 to dissolve Solomon Corporation, a wholly-owned subsidiary Company incorporated in the Federal Territory of Labuan. Solomon Corporation has remained dormant since its incorporation. The dissolution of Solomon Corporation will not have any material effect on the earnings or assets of KeyWest Group for the financial year ending 31 January 2014.
TEO LT AB Completes Reorganization of Subsidiaries UAB Hostex and UAB Interdata
TEO LT AB announced that the reorganization of the companies belonging to TEO LT AB, UAB Hostex and UAB Interdata, has been completed. UAB Interdata, after the reorganization, ceased its activities as a legal entity, in accordance with the part three of article 2.97 of the Civil Code of the Republic of Lithuania, and was merged into UAB Hostex that continues its activities after the reorganization. UAB Hostex that held a 100% stake in UAB Interdata took over all the assets and liabilities as well as the rights and obligations of UAB Interdata. UAB Interdata had a subsidiary, UAB Hosting, which from now on became a subsidiary of UAB Hostex. All share of UAB Hostex, a provider of web-hosting services, are owned by UAB Baltic Data Center, a subsidiary of TEO LT AB.
Telecom Italia SpA Signs Agreement With Trade Unions to Increase Productivity
Telecom Italia SpA announced that it has signed an agreement on March 27, 2013, with the Trade Unions aimed at increasing internal productivity through a more effective organization of labor and internalization of activities outsourced externally. Redundancies will be managed mainly through the adoption of solidarity contracts. The understanding allows respecting the Company’s 3-year Plan targets that foresee continuation of the process of cost reductions, including labor costs. The agreement signed allows managing the redundancies identified for the period 2013/2014 through social security cushions such as solidarity contracts avoiding layoffs. Specifically, 2,500 of the 3,000 jobs at risk at Telecom Italia SpA will be saved through solidarity contracts covering around 32,000 employees. 500 workers will leave the Company either because they already have legal pension entitlements or voluntarily because will reach pension age during the flexibility period under Law 223/91. A further 350 surplus jobs identified at Telecom Italia Information Technology for the period 2013/2014 will be protected using the same support mechanisms. The measures planned include the Caring Services Division, Open Access, Directory Assistance and Bonuses.
Telekom Slovenije dd Shifts Operations of Its Subsidiaries
Telekom Slovenije dd announced that as a result of its restructuring and consolidation of its business operations in Slovenia, its Supervisory Board approved the Management Board's proposal on separating a part of the operations of subsidiaries, TSmedia and Avtenta and incorporating them into the parent company. TSmedia is to focus on media and selling advertising space and digital content, while the parent company will take over the 1188 general information call center and its technical development, as well as technological platforms, technical operation and development of portals, the digital television platform for SiOL TV, and the network of outdoor digital billboards. The Company's Avtenta will continue the development of e-business with its document management systems solutions, SAP consulting, while continuing to run its ICT training center Avtenta.IQT. The parent company is to take over ICT related activities which will be integrated into Telekom Slovenije dd, as they are among its strategic objectives. The proposed consolidation is planned to take place on 30 April 2013.
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Sector Summary
| Energy |  -0.01% |
| Basic Materials | -0.88% |
| Industrials | -0.61% |
| Cyclical Goods & Services |  +0.03% |
| Non-Cyclical Goods & Services | -0.23% |
| Financials | -0.23% |
| Healthcare | -0.43% |
| Technology | +0.04% |
| Telecoms | +0.08% |
| Utilities | -0.64% |
| DOW | 14,932.41 | -42.55 |
-0.28% |
| S&P 500 | 1,614.08 | -0.88 |
-0.05% |
| NASDAQ | 3,433.40 | -1.09 |
-0.03% |
| TR US Index | 146.52 | -0.13 |
-0.09% |
Analyst Research
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Provider: Market Edge
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$10.00
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Provider: Edison Investment Research
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Provider: Market Edge
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$10.00
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Provider: Market Edge
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