Nytex

In Brief: Oi shareholders approve judicial reorganisation 

***The shareholders of Brazilian operator Oi, in an extraordinary shareholders meeting, ratified the judicial reorganisation of the company. The application was submitted together with its wholly-owned direct and indirect subsidiaries Oi Movel,Telemar Norte Leste, Copart 4 Participacoes, Copart 5 Participacoes,Portugal Telecom International Finance and Oi Brasil Holdings Cooperatief,as approved by the Board of Directors and the relevant corporate bodies.The shareholders also authorized the company's management to make arrangements and perform all acts necessary in relation to the judicial reorganisation,as well as ratified all actions taken to date.

***International roaming charges between Rwanda and Gabon have been abolished under the ‘One Area Network’ programme. Launched by the Rwandan president Kagame on 18 July, the agreement between the two countries will see mobile voice, SMS and data tariffs harmonised, with roaming charges effectively being scrapped. International traffic between the two countries will also be tax exempt, reducing calling costs as a result. Kagame has called on other African nations to join the One Area Network, saying: ‘As more and more of us get involved, the benefits for everyone can only multiply. Connecting our networks and our markets is a tangible realisation of this ideal with real results for our people.’

***Olleh Rwanda Networks (ORN), the open-access 4G joint venture between South Korea’s KT Corp (51%) and the Rwandan government (49%), has announced that it has changed its name to Korea Telecom Rwanda Networks (KTRN), in a move designed to unify its branding as it plots its entry into new markets. The CEO of KTRN said: ‘We have just changed the name, from Olleh Rwanda Networks back to globally recognised name, Korea Telecom Rwanda Networks. Nothing else has been changed … All our logos changed on 27 June. We intend to extend our operations to other parts of the region, and we thought it’s better to expand as single network, with a similar name.’

***Ooredoo Qatar has announced that the new high-capacity Asia-Africa-Europe-1(AAE-1)subsea cable system has landed in Qatar.The 25,000km network –which has a design capacity of 40Tbps –will connect Asia, the Middle East,East Africa and Europe,and is scheduled to be ready for service (RFS) by Q4 2016. 2016. A nine-member delegation from the French overseas ‘collectivity’ of Wallis and Futuna has met with the Samoan government in order to discuss the territory’s potential connection to the Samoa Submarine Cable Company’s (SSCC’s) planned sub-sea cable. The head of the Ministry of Communication, Information & Technology (MCIT), said that Wallis and Futuna wants to capitalise on the Apia to Fiji spur of the submarine network, which will pass within close proximity of the islands.

•***Johannesburg-Nigeria’s mega fine on mobile network MTN is still weighing on the company as it warned of forthcoming losses.MTN told shareholders that it “expects to report negative basic headline earnings per share (HEPS) and basic earnings per share (EPS)” for the six months ended June 30.For the previous comparable period, MTN reported HEPS of 654 cents and EPS of 653 cents. The fall in earnings comes amid MTN having agreed to pay a 330 billion naira (R24.94bn) fine to the Nigerian government for its failure to register five million subscribers.Amid the warning, MTN shares fell over 2% to R137.80 at 09:49 in Johannesburg.