Wireless Telecommunications Services
Free2Move Holding AB:Says Extra Ordinary General Meeting (EGM) to decide whether the company should continue operations or go into liquidation.EGM to take place on March 31.
SoftBank Group Corp:Says its Board of Directors has resolved to conduct a reorganization of Group companies under SoftBank Group Corp. (“SBG”) as follows accompanied by the transfer of subsidiaries.SBG has decided to materialize its previously announced strategic direction, which is to position its two core businesses (domestic operations and global operations) as future growth drivers.SBG will place a global operations management company and a domestic operations management company in Japan and the two operations management companies will be placed by utilizing SBG’s existing wholly owned subsidiaries.The investment securities of global subsidiaries and affiliates such as Starburst I, Inc. (a holding company that holds the shares of Sprint Corporation) and Alibaba Group Holding Limited are projected to be transferred primarily to the global operations management company from SBG.The investment securities of domestic subsidiaries and affiliates such as SoftBank Corp. and Yahoo Japan Corporation are projected to be transferred primarily to the domestic operations management company from SBG.The timing and method of the transfer will be left to the discretion of Masayoshi Son, Chairman & CEO of SBG. The transfer is due to complete by Dec 31, 2016.
SK Telecom Co., Ltd:To spin off its subsidiary SK Planet Co.,Ltd.'s LBS business and phone authentication additional service business in to new established wholly owned subsidiary.Ofter the spin off, to merge with its subsidiary.Merger effective date of April 5 and registered date of April 7.
Sprint Corp:Sprint Corp. is creating four regional offices and eliminating some jobs to focus on service quality and customer retention in 19 major U.S. markets, part of Chief Executive Officer Marcelo Claure’s efforts to turn around the struggling wireless carrier - Bloomberg.The moves will help Overland Park, Kansas-based Sprint cut costs as Claure works to reverse a seven-year streak of subscriber losses - Bloomberg.Dave Tovar, a spokesman for Sprint, couldn’t say how many jobs would be eliminated - Bloomberg.The company is aiming to cut as much as $2.5 billion from its more than $20 billion in annual costs, and is looking in a range of areas, including roaming payments - the money it pays other carriers to handle calls outside the reach of its network - Bloomberg.
SoftBank Corp:To merge with its two Tokyo-based wholly owned subsidiaries on Dec. 1.Says two subsidiaries to be dissolved after the transaction.
Free2Move Holding AB:Extraordinary General Meeting (EGM) to decide whether company should continue operations or liquidate.EGM to take place on Oct. 27.
SK Telecom Co., Ltd:Says its subsidiary, SK Planet Co.,Ltd., to divest construction material business into a new wholly owned subsidiary.Divest ratio of 0.9821740:0.0178260 between SK Telecom and new subsidiary.Division effective date of July 1 and registration date of July 2.
TOSHIN CORP:To transfer TOSHIN TOKYO North Hills Golf Course business of a Nagoya-based subsidiary, which is engaged in operation and management of golf course, to a Tochigi-based new sub-subsidiary, which to be founded on June 30.To transfer 200 shares (100 pct stake) of the new sub-subsidiary to Awano Co., Ltd on July 1.
iPass Inc:Announced restructuring intended to flatten the organization, create a more nimble sales and delivery infrastructure.To support a SaaS go to market strategy, and accelerate cash flow break-even point.Restructuring will reduce headcount globally by 14 percent.Restructuring will result in a charge of about $2.7 million to $3.2 million in the second quarter of 2015.Says will terminate Karen Willem, Chief Financial Officer as part of the restructuring.