Webwire: China Mobile optimistic on outlook; Telkom in share buyback

Webwire: China Mobile optimistic on outlook; Telkom in share buyback

Dylan Bushell-Embling  |   May 20, 2011
telecomasia.net
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China Mobile chairman Wang Jianzhou is “very confident” about the company's outlook despite a steep stock decline over the last six months, and hopes that Apple will agree to design an iPhone based on TD-LTE.
 
Telkom to buy back shares, eyes SingTel's stake
Indonesia's Telkom has allocated 5 trillion rupiah ($585 million) to buy back around 3.2% of its total equity in market transactions. The company is also considering trying to buy back the 35% stake owned by SingTel, but SingTel may not be interested in selling.
 
Facebook CEO Mark Zuckerberg will take a second trip to China as part of an attempt to grow the social network's presence in the nation.
 
Shares in LinkedIn skyrocketed in their first day of public trading, closing at $94.25 - 109.4% higher than the $45 opening price. The company, which last year earned just $15.4 million, now has a market cap of $8.9 billion.
 
Cisco is rumored to be considering following through with the closure of its Flip video camera division by divesting two more of its consumer brands, Linksys and WebEx.
 
Dell nearly tripled its quarterly profit to $949 million, despite a mere 1% increase in revenue to $341 million, as a result of a trend towards higher-margin products including services.
 
Siemens' main priority for NSN is growing its market share and improving its profitability, not selling a stake in the joint venture, Siemens CFO said yesterday in response to rumors the company has opened up its books to some possible private equity investors.
 
Microsoft has labelled as 'inaccurate' Intel's claims that the next Windows will come in multiple versions that run on tablets, stating that its development of Windows on SoC is still at the tech demo stage.
Dylan Bushell-Embling

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