US giant Verizon is nearing an agreement with Google on a wide-ranging partnership, the Wall Street Journal said, citing sources. The deal under discussion would make Google the default search provider on Verizon devices and give it a share of ad revenue, the paper, quoted by a Reuters report, further said. The deal is not yet final and the two sides are still negotiating on key issues, such as Google's desire to save information from user cellphone searches, it added. More here.
2. Virgin completes Helio acquisition
Virgin Mobile USA completed its planned acquisition of Helio. Helio shareholders SK Telecom and Earthlink have received shares and limited partnership units equivalent to 13 million shares of Virgin Mobile stock valued at $38 million. In addition SK Telecom and Virgin Group will each invest $25 million in Virgin Mobile USA. SK will have a 17 percent investment in Virgin Mobile and two seats on the Virgin Mobile board of directors. More here.
3. Nokia unveils iPhone rivals
Nokia unveiled two new high-end phone models, the N79 and the N85, as the firm battles against increasing competition from the likes of Apple and Samsung, a Reuters report said. The news lifted shares in Nokia more than 2% as it reassured investors the company was on track to refresh its offering for the key Christmas sales period. More here.
4. India 3G bidding to include CDMA
India has decided to auction CDMA licences for 3G services, a change in policy that means Reliance Communications and Tata Teleservices will have to bid for spectrum they were previously guaranteed of getting, a Reuters report said, quoting a government official. No. 2 mobile operator Reliance Communications and sixth-ranked Tata Teleservices are the only operators with major CDMA operations in India, where the GSM platform dominates. More here.
Thank you very much,
RamP!
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