MOSCOW, May 26 (Prime-Tass) -- The shareholders of Russia's Internafta said that U.S. telecommunications equipment producer GlobeTel was responsible for the failure to implement a U.S $600 million project to build a WiMAX network in Russia, Vedomosti business daily reported.
The agreement between the two companies to build the network was signed on December 29, 2005, and was cancelled by GlobeTel on May 1.
Vadim Tataurov, who owned a 25% stake in Russia's Internafta - a company that was established specifically for the project - said that during the project?s negotiations, which took place in November 2005, GlobeTel's CEO Timothy Huff was in a rush to close the deal by the end of the year "to make (GlobeTel's) shareholders happy," the daily reported. Meanwhile, the Russian businessmen said during the talks that it would take about three months to prepare the contract.
As a result, Internafta failed to meet the deadline for its first payment under the contract, which was scheduled for January 16, as nobody took into account the Russian New Year holidays, which lasted from January 1 to January 9, Tataurov said
Internafta made the first payment but at a later date, Tataurov claimed, vedomsoto reported.
Tataurov and Sergei Zhukov, another Internafta shareholder with a 25% stake, claimed that GlobeTel lost interest in the project after the agreement was signed, Vedomosti reported.
They also said that GlobeTel's managers offered them to buy GlobeTel shares before signing the contract, Vedomosti reported.
A source in GlobeTel Wireless Europe denied all the accusations, the daily reported.
Following the cancellation of the agreement, GlobeTel's shareholders accused the company of faking the agreement. Lawyers at Sarraf Gentile, filed in early May a lawsuit on behalf of GlobeTel's shareholders against the U.S. company and some of its top managers with a court in the U.S. state of Florida.
Information about the deal with Internafta moved the U.S. company's shares up, while the announcement of the cancellation of the deal sent the shares into a downward spiral, Sarraf Gentile said then.
GlobeTel's capitalization rose to $410 million as of December 2005 from $210 million after the signing of the agreement and fell to $130 million after the cancellation of the agreement, as of Thursday, the daily reported.
Some Russian market observers speculated earlier that Internafta's owners might have set up the company to obtain a developed business plan from GlobeTel for the WiMAX project, without having any intention to cooperate with the U.S. company.
Monday, May 29, 2006
Friday, May 26, 2006
No Radiation Problems at Australian University
Following a health scare, the Australian RMIT University has conducted radio emission tests on the roof and several floors of a building where a cluster of cancers had occured. However, the tests on floors 16 and 17 and the roof of RMIT University have shown no anomalies, according to independent environmental testing consultants. Tests were conducted by EMC Technologies, AMCOSH, Kilpatrick and Associates, and the Australian Radiation Protection and Nuclear Safety Agency (ARPANSA), looking into a variety of potential risk areas including air and water contaminants, surfaces and microbiological compounds.
RMIT has welcomed the results. It has also commissioned radio frequency tests on other levels of the building, as well as epidemiological surveys.
Chris Jacka, Managing Director of Sustainable Risk Management Australia, which coordinated the testing program, said: "Measurements in Building 108 are consistent with those typically found in buildings in Melbourne. Tests identified no anomalies.
"Our tests measured outputs not just from the mobile phone base stations on the roof but from all those in the area. The results were well below national standards."
RMIT University's Vice-President Resources and Chief Operating Officer, Steve Somogyi, welcomed the results. "Staff and students have been understandably worried about the incidence of brain tumours among staff in Building 108. I hope these results will help ease those concerns.
"RMIT is committed to ensuring the health and safety of our staff and students. We shall now test radiofrequency on lower floors.
"We have engaged the services of an occupational physician, Dr John Gall of Southern Medical Services, who will continue to assess medical reports and investigate potential links between staff diagnosed with tumours."
RMIT has welcomed the results. It has also commissioned radio frequency tests on other levels of the building, as well as epidemiological surveys.
Chris Jacka, Managing Director of Sustainable Risk Management Australia, which coordinated the testing program, said: "Measurements in Building 108 are consistent with those typically found in buildings in Melbourne. Tests identified no anomalies.
"Our tests measured outputs not just from the mobile phone base stations on the roof but from all those in the area. The results were well below national standards."
RMIT University's Vice-President Resources and Chief Operating Officer, Steve Somogyi, welcomed the results. "Staff and students have been understandably worried about the incidence of brain tumours among staff in Building 108. I hope these results will help ease those concerns.
"RMIT is committed to ensuring the health and safety of our staff and students. We shall now test radiofrequency on lower floors.
"We have engaged the services of an occupational physician, Dr John Gall of Southern Medical Services, who will continue to assess medical reports and investigate potential links between staff diagnosed with tumours."
Thursday, May 25, 2006
Qualcomm Sues Nokia - Again
Qualcomm says that it has commenced patent infringement litigation in the UK against Nokia. The proceedings, issued in the Patents Court of the High Court of England and Wales, allege infringement of two patents by Nokia in the United Kingdom in relation to mobile devices which are capable of operating in accordance with the GPRS and/or EDGE standards but not having a capability to operate with CDMA technology.
The proceedings seek an injunction against Nokia, as well as damages in relation to phones already sold.
This litigation is a geographic extension of the patent infringement litigation filed by Qualcomm against Nokia in the United States on November 4, 2005. Both cases involve alleged infringement of Qualcomm's patents by Nokia's GSM/GPRS/EDGE products.
For its part, Nokia sasy that it is not surprised that Qualcomm has once again chosen to litigate. Nokia is yet to receive a copy of the complaint or analyze the details; therefore, Nokia cannot comment on the substantive aspects of the claims. Nokia does not believe that Qualcomm is entitled to an injunction.
Nokia says that it will analyze Qualcomm's claims when it obtains the complaint and will defend itself to ensure that its rights are fully protected.
Tal Liani, research analyst with Merrill Lynch said in a research note that he believes Qualcomm's law suit should be taken in the context of putting pressure on Nokia to renew the commercial licensing agreement which expires in April 2007.
"To bolster its bargaining power in this renewal process, Qualcomm mentioned at its recent analyst day gathering that it may pressure Nokia by leveraging certain GSM related patents that have so far not been enforced. There was even mention of dropping the enforcement of these patents altogether should Nokia extend the royalty agreement."
The proceedings seek an injunction against Nokia, as well as damages in relation to phones already sold.
This litigation is a geographic extension of the patent infringement litigation filed by Qualcomm against Nokia in the United States on November 4, 2005. Both cases involve alleged infringement of Qualcomm's patents by Nokia's GSM/GPRS/EDGE products.
For its part, Nokia sasy that it is not surprised that Qualcomm has once again chosen to litigate. Nokia is yet to receive a copy of the complaint or analyze the details; therefore, Nokia cannot comment on the substantive aspects of the claims. Nokia does not believe that Qualcomm is entitled to an injunction.
Nokia says that it will analyze Qualcomm's claims when it obtains the complaint and will defend itself to ensure that its rights are fully protected.
Tal Liani, research analyst with Merrill Lynch said in a research note that he believes Qualcomm's law suit should be taken in the context of putting pressure on Nokia to renew the commercial licensing agreement which expires in April 2007.
"To bolster its bargaining power in this renewal process, Qualcomm mentioned at its recent analyst day gathering that it may pressure Nokia by leveraging certain GSM related patents that have so far not been enforced. There was even mention of dropping the enforcement of these patents altogether should Nokia extend the royalty agreement."
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