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Ofcom says mobile contracts should ditch inflation-related price rises

Ofcom says mobile contracts should ditch inflation-related price rises

UK telecoms regulator Ofcom wants to ban inflation-related rises in phone and broadband contracts. Instead, it says any potential mid-contract price rises should be set out in pounds and pence.
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Global smartphone market is set for recovery, says new forecast

A new forecast from research specialists Canalys shows the smartphone market is set to recover next year. Worldwide shipments declined by 12% last year but that decline is expected to slow to 5% this year.
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Vodafone and Three plan to merge their UK businesses

Vodafone and Three plan to merge their UK businesses

New Hutchison/Vodafone network would be biggest UK operator

Vodafone Group plc and CK Hutchison Group Telecom Holdings Limited have agreed to combine their UK telecommunication businesses, respectively Vodafone UK and Three UK. The merger will create a large new network operator to compete with Virgin Media O2 and EE.
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UK mobile payment service Paym to close in March 2023

UK mobile payment service Paym will close on 7th March 2023. The service, which allowed users to make and receive payments using their mobile phone numbers, was launched in 2014.
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Qualcomm legal action moves forward in the UK

Qualcomm legal action moves forward in the UK

Which? seeks payout for Samsung and Apple smartphone owners

Consumer protection organisation Which? has been given permission by the UK's Competition Appeal Tribunal to represent Apple and Samsung smartphone buyers in a legal case against chip manufacturer Qualcomm.
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Opinion Articles

Hotel phone charges demonstrate the value of packing your mobile

Mark Bridge writes:

I like hotels. Free biscuits in your room and all the portions of UHT milk you can drink. But the phone calls... that's a different story.

Dearie me, you're paying for that hospitality tray when you pick up the phone.

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Charlie Chaplin, a mobile phone and a time-travel mystery

Mark Bridge writes:

A Charlie Chaplin DVD includes an image of a woman using a mobile phone in 1928.

That’s the suggestion surrounding a YouTube clip that’s currently received more than 2½ million hits since it was posted online last week.

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Why the Sat-Nav Application Model is Broken

James Rosewell writes:

Most Sat-Nav applications are now obtained via the Application Store used on the mobile phone. Navigon have gone so far as to remove access to their application via any other route. Application Stores are now the only choice. This move to a platform-specific sales model is a massive mistake.

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Come on, Steve Jobs – why don't you attack a few more mobile companies?

Mark Bridge writes:

Mark Zuckerberg's girlfriend breaks up with him acrimoniously. So off he goes and creates Facebook. Yes, there's nothing like an insult to fire up the creativity. Well, that's certainly what the plot of The Social Network would like you to think.

And, you know, it's got a point. In fact, I'd go as far as to say that sticking two fingers up at the opposition seems to be the new way of doing business.

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The positive cult of giffgaff

Mark Bridge writes:

Wouldn't it be great if mobile customers loved their networks so much that they'd fight for them?  Ofcom would be inundated with complaints from O2 users about its decision not to allow GSM frequencies to be used for 3G services. Vodafone customers would demand that Nokia pre-loaded the N8 with a Vodafone 360 application. Orange users would be sending petitions to radio stations, asking them to implement HD Voice on phone-ins. And giffgaff users would take to online forums to defend the service they receive.

Oh, hang on. That last one's already happening.

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Thursday, April 22, 2010

Virgin Media completes a major refinancing programme

Virgin Media, which offers a 'quad-play' combination of broadband, TV, fixed-line phone and mobile services in the UK, has completed a three-year refinancing programme. It says this has fundamentally changed the capital structure of its business, providing greater flexibility and scope for the use of any surplus future cash flow.

Over the past three years, Virgin Media has worked with its lenders to significantly change its debt mix from predominantly near-term bank debt to predominantly longer-term bond debt at attractive financing costs. During this period the company has issued $1 billion of convertible notes, £1.7 billion of senior unsecured notes and £1.5 billion of senior secured notes. It also successfully amended its senior credit facilities in October 2008 and again in October 2009 to improve repayment options and flexibility and today closed a new £1.9 billion bank facility.

Virgin Media says it now has a capital structure that will allow it greater focus on its operational plans and flexibility around the future use of cash flow, as well as driving top-line growth.

Eamonn O’Hare, Virgin Media’s chief financial officer, said, "Our focus has been to steer the business into a position where we have a long-term, fit-for-purpose capital structure that supports our ambitions. The completion of this process is a major achievement, particularly in light of the market conditions over much of the last three years. In order to overcome those issues in the credit markets, we have been innovative and proactive in our efforts to substantially reduce our refinancing risk."

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Categories: Networks and operators, NewsNumber of views: 5970

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