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Telecom Stock Roundup: Altice to Buy Cablevision, Verizon Foresees Flat Earnings for 2016

The telecom sector witnessed a series of consequential events last week. The news that grabbed the most attention is French cable MSO (multi-service operator) Altice SA’s decision to acquire leading U.S. cable MSO Cablevision Systems Corp. CVC. The deal is expected to close in the first half of 2016 subject to regulatory and other customary approvals.

At the earnings front, U.S. telecom giant Verizon Communications Inc. VZ has predicted flat year-over-year earnings for 2016 as it does not see enough variables to deliver growth in the coming year. However, the company expects to return to growth trajectory starting 2017. In a separate development, Verizon has started offering roaming wireless services in Cuba, making it the first of its kind.

Meanwhile, T-Mobile US Inc. TMUS announced that its net subscriber addition in the ensuing third quarter has surpassed the previous quarter’s numbers.

Among others that grabbed headlines, were Charter Communications Inc. CHTR and Time Warner Cable Inc. TWC, as the shareholders of both the companies have approved all proposals associated with the pending merger.

Furthermore, Frontier Communications Corp. FTR introduced its OTT (over the top) services -- ‘Freedom TV’ -- which will provide streaming services to its customers willing to watch favorite local channels and TV shows on demand on their devices.

Outside the U.S., Mexican telecom regulator, the Federal Telecommunications Institute (IFT) recently announced that it will auction 80 MHz of wireless spectrum across various Advanced Wireless Services (AWS) bands in Jan 2016. The IFT has called for public comments regarding the documentation of the proposed auction.

In the meantime, global telecommunications service provider Orange ORAN has set up an Internet of Things (IoT) network under its 5-year strategic initiative – “Essential2020.” (Read the last Telecom Stock Roundup for Sep 17, 2015.)

Recap of the Week’s Most Important Stories

1. Altice has been very keen on taking over U.S cable companies as the European company...