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Telenor management changes in Asia; ZTE share sale; Megvii IPO complications


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Telenor management changes in Asia; ZTE share sale; Megvii IPO complications


* Telenor ASA announced management changes across its Asian operations. The chief executive of Telenor Myanmar, Sharad Mehrotra, was appointed CEO of Total Access Communication PCL, the group's subsidiary in Thailand. He replaces Alexandra Reich, who is leaving to pursue other opportunities. Hans Martin Hoegh Henrichsen, chief corporate affairs officer at Telenor Myanmar, will become acting CEO. In Bangladesh, deputy CEO and chief marketing officer of Grameenphone Ltd., Yasir Azman, will take over as the new CEO while current CEO Michael Foley relocates to Africa.

* ZTE Corp. is considering raising about 11.51 billion yuan from a private placement of class A shares, according to media reports. The Chinese company intends to use the proceeds for research and development of 5G networks and for working capital.

* Megvii's upcoming Hong Kong IPO could be complicated by a lack of comparable public companies, trade restrictions with the U.S., and the fact that it has yet to make a profit, analysts said.


* Z Holdings Corp., formerly called Yahoo Japan, will leverage its merger with messaging app LINE Corp. to expedite its expansion in Asia, Nikkei Asian Review reports. Z Holdings CEO Kentaro Kawabe said Line's existing customer base in Asian markets such as Taiwan, Thailand and Indonesia is an asset for the company. The SoftBank Corp. unit will also look at acquiring local startups to enter new markets.


* South Korea's Ministry of Science and ICT plans to ensure that a total of 30 trillion won investment go into 5G-related service development by 2022 from both private and public sectors, Newsis reports. The ministry also aims to support about 1,000 artificial intelligence and software specialists through diversified graduate school programs.

* NAVER Corp. upgraded its trending search function by expanding the application of its artificial intelligence-based search recommendation system RIYO, including entertainment, sports and current affairs, News 1 reports.


* Taiwan completed its 5G spectrum auction after 261 rounds of bidding, with total bids reaching NT$138.08 billion. Chunghwa Telecom, Taiwan Mobile Co. Ltd., Far EasTone Telecommunications Co. Ltd. and Taiwan Star Telecom Corp. Ltd. each won bids for securing spectrum in the 3.5 GHz band.

* Huawei Technologies Co. Ltd. unveiled a £20 million investment plan to encourage developers from the U.K. and Ireland to create apps for its Huawei AppGallery, London's Evening Standard reports. The company also debuted 24 Mobile Services Core Kits, which developers can use to create applications for the Huawei AppGallery.

* Airlook Technology (Beijing) Co. Ltd., a 3D mapping service provider, completed a 100 million yuan series B+ funding round led by GF Qianhe Investment, 36Kr reports. The Chinese company will use the proceeds for the construction and application of 3D real-world maps.

* Beijing ByteDance Technology Co. Ltd. dismissed media reports saying the company is eyeing a 2020 revenue target between 180 billion yuan to 200 billion yuan. The TikTok owner said the reports are inaccurate, according to NetEase.


* India's Supreme Court rejected appeals, including those from Vodafone Idea Ltd. and Bharti Airtel Ltd., to review its 2019 verdict on adjusted gross revenue, which left the telcos collectively facing over 1 trillion rupees in additional dues. Airtel and Vodafone Idea are considering filing curative petitions, according to Mint.


* Singapore Press Holdings Ltd. will issue S$500 million senior unsecured notes under its S$1 billion multicurrency debt program. The funds from the notes, which will carry a coupon of 3.20% per year, will be used for general working capital and refinancing of existing borrowings.

* Alibaba Cloud Computing Co. launched a partner program involving 40 Indonesian companies, which include wireless carriers PT Indosat Tbk and PT Telekomunikasi Indonesia Tbk, reports. The program aims to promote the adoption of Alibaba's cloud computing and data intelligence solutions.

* Thailand's National Broadcasting and Telecommunications Commission approved a request from Thaicom PCL to connect to foreign satellites following the system failure issues of its Thaicom 5 satellite, Than Settakij reports.


* Singtel Optus Pty. Ltd. completed a 5G video test call while simultaneously streaming video content on a 4G device with Ericsson's Spectrum Sharing technology. The test used the telco's 5G network in Australia and Singtel's pilot 5G network in Singapore. The inter-country video call was made with a precommercial OPPO 5G device equipped with QUALCOMM Inc.'s Snapdragon X55 5G Modem-RF System, while also video streaming content on a 4G device connected to the same spectrum.


Amazon could face antitrust suit in 2020, but asset breakup unlikely: If regulators find evidence that Amazon engaged in anti-competitive practices, the company could face enforcement actions ranging from new regulations to a breakup order, antitrust experts said.


Wireless Investor: Asia-Pacific tower, small cell, DAS projections through 2029: Although traditional towers still dominate, small cells and distributed antenna systems are gaining momentum in Asia-Pacific due to the aggressive push for 5G by China, Japan and South Korea.


TSMC: US export ban could disrupt business short-term: The Taiwanese semiconductor manufacturer said sales to China accounted for around a fifth of its total in the last quarter despite U.S. trade restrictions.

Nozomi Ibayashi, Myungran Ha, Emily Lai, Ed Eduard and Wil Hathaway contributed to this report.

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