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Russia's second biggest mobile phone operator Megafon has finalised its 2012 deal to buy a stake in cellphone retailer Euroset, paying its key shareholder $657.3 million in shares, the company said on Wednesday. _0"> Megafon, controlled by Russia's richest man Alisher Usmanov, together with his acquisition vehicle Garsdale, bought 50 percent of Euroset for $1.07 billion nearly two years ago. The other 50 percent in Euroset belongs to Megafon's competitor, Vimpelcom. The initial deal envisaged Megafon gaining full control of the Euroset stake within a year, buying 25 percent from Garsdale within a year. The condition was later extended until 2015. The price paid in the deal corresponded to the $535 million initial investment plus $50 million in additional payments representing Garsdale's "earn out", as well as accumulated 8 percent interest, Megafon said. "Megafon has completed its commitment to Garsdale with respect to the Euroset transacti

Canada's Globe and Mail newspaper reached a tentative contract deal on Wednesday with the union representing its editorial, advertising sales and circulation workers, likely averting a work stoppage at the country's largest national daily. _0"> The two sides met for two days with an independent mediator before reaching the deal. No details of the agreement will be released before a ratification vote is held, the union, Unifor, said. "Good news. We have reached a tentative deal which the bargaining team unanimously recommends," Unifor said in a memo sent to workers. "The strike deadline is suspended until further notice. Continue to work normally." The strike deadline had been Wednesday at 4 p.m. (2000 GMT). The workers had rejected an earlier offer from management that the union said weakened job security and cut pay significantly for some advertising sales staff. Employees will likely vote on the deal on Thursday afternoon, the memo said. Th

Mexican tycoon Carlos Slim's plan to divest a chunk of his most valuable asset, phone company America Movil, could open Mexico's telecoms market as never before to rivals. After a generation of enjoying a near-monopoly that allowed Slim to become the world's richest man, he plans to sell parts of America Movil to a competitor to avoid new penalty measures to curb the company's dominance. Companies like AT&T, Telefonica, Virgin Mobile and Grupo Televisa which have varying degrees of interest in Mexico, could benefit from buying parts of America Movil, which has some 70 percent of Mexico's mobile market and is the strongest force in fixed line and Internet. To avoid penalties, the company must arrive at a share below 50 percent of the overall Mexican telecoms market, as calculated by regulator Federal Telecommunications Institute (IFT) using subscriber numbers and network capacity. "The trick will be in how they present the plan," Miguel Flores, a

Cogeco Cable Inc reported an 7 percent rise in quarterly revenue as the Canadian cable TV, internet and phone services provider continued to reap benefits from its expansion into data services and U.S. cable TV sectors. _0"> The Montreal-based company's net profit fell to C$35.5 million ($33.33 million), or 72 Canadian cents per share, in the quarter ended May 31, from C$48.1 million, or 98 Canadian cents per share, a year earlier. Revenue increased $32 million to $496.4 million. ($1 = 1.10 Canadian dollars) (Reporting By Shubhankar Chakravorty and Ramkumar Iyer in Bangalore; Editing by Lisa Shumaker )

Cogeco Cable Inc, a Canadian cable TV, Internet and phone services provider, reported a lower third-quarter profit as its unit Cogeco Cable Canada booked impairment charges during the period. Net profit fell to C$35.5 million ($33.3 million) or C$0.72 per share, for the quarter ended May 31, from C$48.1 million, or C$0.98 per share, a year earlier. Cogeco Cable Canada recognized an impairment charge of $32.2 million related to an Internet Protocol Television project. The Montreal-based company's Canadian cable services unit lost 8,021 cable customers, while 1,433 telephone customers canceled their services in the quarter. The U.S. cable services unit of the company lost 1599 cable customers, while it added 733 new telephone customers during the quarter. Revenue rose by 6.9 percent to $496.4 million. Owned by media and telecommunications company Cogeco Inc , Cogeco Cable competes with Rogers Communications Inc , Telus Corp and BCE Inc. ($1 = 1.0648 Canadian Dollars) (Repor

Apple Inc acknowledged on Wednesday it needs to address manufacturing partners' carbon emissions and its own rising water consumption, though the iPhone maker said it had cut back sharply on greenhouse gas output. _0"> Apple last year hired former Environmental Protection Agency chief Lisa Jackson to push cleaner initiatives, amid past criticism over its emissions and use of toxic materials. Observers say it has improved its practices and earned better scores from groups such as Greenpeace. On Wednesday, Apple released its 2014 environmental responsibility report, saying investments in renewable energy helped slash its carbon footprint from energy use by 31 percent from fiscal 2011 to fiscal 2013. That's despite power consumption soaring 44 percent over the same period. ( here ) But the company, which is building its future main campus not far from its current base in Silicon Valley, said water usage had spiked as a result of general construction and expansion. It

Cogeco Cable Inc, a Canadian cable TV, Internet and phone services provider, reported a lower third-quarter profit as its unit Cogeco Cable Canada booked impairment charges during the period. Net profit fell to C$35.5 million ($33.3 million) or C$0.72 per share, for the quarter ended May 31, from C$48.1 million, or C$0.98 per share, a year earlier. Cogeco Cable Canada recognized an impairment charge of $32.2 million related to an Internet Protocol Television project. The Montreal-based company's Canadian cable services unit lost 8,021 cable customers, while 1,433 telephone customers canceled their services in the quarter. The U.S. cable services unit of the company lost 1599 cable customers, while it added 733 new telephone customers during the quarter. Revenue rose by 6.9 percent to $496.4 million. Owned by media and telecommunications company Cogeco Inc , Cogeco Cable competes with Rogers Communications Inc , Telus Corp and BCE Inc. ($1 = 1.0648 Canadian Dollars) (Repor