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  • Telecom Italia’s major shareholder has been Poste Italiane

    Telecom Italia’s major shareholder has been Poste Italiane

    After a decade under French control, Telecom Italia SpA now has an Italian state-backed group as its top investor — and it’s one that wants to foster mergers and acquisitions in the telecoms market.

    Postal service Poste Italiane SpA this weekend became the phone company’s biggest shareholder with a holding of nearly 25%, after purchasing the majority of a stake held by French media conglomerate Vivendi SE. Poste says the deal will support industry consolidation.

    It’s a shape-shifting moment for a troubled carrier that was privatized nearly 30 years ago, and it comes at a time when governments from the US to Europe are taking a more active role in corporate affairs.

    It also comes as Iliad SA is seeking to shake up the Italian sector through M&A, possibly by combining its local unit with Telecom Italia.

    Government oversight could offer some advantages to Telecom Italia, which Rome views as a core national asset given the volume of sensitive data it handles and the strategic importance of its digital infrastructure.

    Prime Minister Giorgia Meloni’s right-wing government has kept a close eye on companies it considers “national champions,” and her administration has seen Poste as a natural fit for Telecom Italia.

    Still, whether state-backed Poste can succeed where private investors failed remains an open question. Telecom Italia has been a chronic underperformer for years, hobbled by a growing debt pile that forced the firm to last year sell off its landline network, its most valuable asset, in a deal valued at as much as €22 billion ($23.8 billion).

    Italy has one of the world’s most competitive telecoms markets, already largely in the hands of foreign players. Domestic competitors include Swisscom AG’s Fastweb — which last year bought Vodafone Group Plc’s local unit — and CK Hutchison Holdings Ltd.’s Wind Tre SpA. Vivendi retains a 2.5% stake in Telecom Italia.

    The company’s legacy as a former monopoly operator crippled it from the start through a complex mix of high labor costs and ever-higher investments. Partnering with Poste Italiane could breathe new life into Telecom Italia, possibly even giving it a chance to be a player in the next wave of sector moves. Bloomberg

  • Rapid malaria evaluations via the WHO detector

    Rapid malaria evaluations via the WHO detector

    Malaria rapid diagnostic tests are under the spotlight at the World Health Organization (WHO), after reports that devices showed positive faint lines for patients with a confirmed malaria infection.

    The WHO said that reports came in last year about positive faint lines. These were predominantly observed in patients with low parasitemia, a term used for the small presence of parasites in the blood. However, some patients with higher parasitemia also generated faint test lines – patients in this group would usually produce strong bands on rapid tests.

    When asked about which manufacturers are impacted by the notice, a WHO spokesperson told Medical Device Network that it is “currently not in a position to provide any more detail on the products”.

    Abbott, Advy Chemical, and Zephyr Biomedicals, amongst others, have tests that meet the WHO’s regulatory standards, as per the agency’s product prequalification database. Exact data on the most widely used brand is difficult to ascertain. In a British Medical Journal (BMJ) study of 85,000 participants across various countries in Africa, Abbott’s SD Bioline Malaria Ag Pf was the most common rapid diagnostic test brand.

    False negative tests usually lead to misdiagnosis, and delays in diagnosis and treatment. The faint test lines, which increase the risk of false negative tests, have led to the issues in recent reports to the WHO.

    “In circumstances where misdiagnosis occurs, the potential for harm, such as death or serious deterioration in health, is increased,” the WHO said in a statement.

    Rapid diagnostic tests have become a key framework for malaria diagnosis. They are an accessible alternative to disease diagnosis by microscopy, where laboratory services might not be available.

    The in vitro diagnostic works by detecting specific antigens produced by malaria parasites in the blood of infected individuals. Depending on the manufacturer, tests can either detect one or multiple species. Their use has led to a sustained increase in testing rates and more accurate tracking of malaria cases.

    According to the medical product alert, incidents were reported in several countries for various products detecting both Plasmodium falciparum and Plasmodium vivax, and products detecting Plasmodium falciparum and pan species.

    Those who use the tests in national control programmes have been recommended to ensure proper transport and storage, up-to-date training, and visual acuity requirements for users. Testing sites should also be contacted to seek feedback on unusual trends, as well as supporting manufacturers.

    As per WHO recommendations, any test line – no matter its faintness – should be recorded as a positive test. However, there have been calls from academia to improve the detection of these bands. For example, some evidence suggests that these bands are sometimes too faded to be seen in poor lighting, a problem in low and middle-income territories.

    There were an estimated 263 million cases of malaria in 2023. The WHO African region carries the highest disease burden, accounting for 94% of cases and 95% of deaths.

    WHO has been grappling with the loss of funding to key malaria programmes in Africa following the suspension of USAID funding. Efforts to fight other infectious diseases such as mpox and tuberculosis have also been impacted.

    “WHO warns that faint lines on rapid tests may cause malaria misdiagnosis” was originally created and published by Medical Device Network, a GlobalData owned brand. GlobalData

  • 145 grants are revoked by the US National Institutes of Health

    145 grants are revoked by the US National Institutes of Health

    The federal government has cancelled dozens of grants to study how to prevent new HIV infections and expand access to care, decimating progress toward eliminating the epidemic in the United States, scientists say.

    The National Institutes of Health (NIH) terminated at least 145 grants related to researching advancements in HIV care that had been awarded nearly $450m in federal funds. The cuts have been made in phases over the last month.

    NIH, a division of the Department of Health and Human Services, is the largest funding source of medical research in the world, leaving many scientists scrambling to figure out how to continue their work.

    “The loss of this research could very well result in a resurgence of HIV that becomes more generalized in this country,” said Julia Marcus, a professor at Harvard Medical School who recently had two of her grants cancelled. “These drastic cuts are rapidly destroying the infrastructure of scientific research in this country and we are going to lose a generation of scientists.”

    In 2012, the FDA approved pre-exposure prophylaxis (PrEP), an antiviral drug taken once a day that is highly successful at preventing new HIV infections. While the drug has been a powerful tool to contain the virus, inequities remain in accessing those drugs and sustaining a daily treatment. Despite major progress, there are still 30,000 new infections each year in the US.

    Many of the terminated HIV-related studies focused on improving access to drugs like PrEP in communities that have higher rates of infections – including trans women and Black men. One of Marcus’s projects was examining whether making PrEP available over the counter would increase the use of the drug in vulnerable communities.

    “The research has to focus on the populations that are most affected in order to have an impact and be relevant,” said Marcus.

    Yet, this may be the justification for defunding so many HIV-related studies. A termination letter reviewed by the Guardian dated 20 March cited that “so-called diversity, equity and inclusion (DEI) studies are often used to support unlawful discrimination on the basis of race and other protected characteristics, which harms the health of Americans.”

    The National Institutes of Health did not expand on why the grants were terminated in response to questions from the Guardian. In a statement it said it was “taking action to terminate research funding that is not aligned with NIH and HHS priorities. We remain dedicated to restoring our agency to its tradition of upholding gold-standard, evidence-based science.”

    Many researchers were left stunned by the scale of the cancellations since in 2019, Donald Trump announced in his State of the Union address a commitment to eliminate the HIV epidemic in the country over the next 10 years. As part of this initiative, his administration negotiated a deal with drug companies to provide free PrEP for 200,000 low-income patients.

    “Scientific breakthroughs have brought a once-distant dream within reach,” said Trump in his address. “Together we will defeat Aids in America.”

    Amy Nunn, a professor at the Brown University School of Public Health, said she had even tailored grant proposals to fit the policy goals of the initiative, which included geographically targeting HIV prevention efforts. One of her studies that was terminated focused on closing disparities of PrEP use among African American men in Jackson, Mississippi.

    “They finally adopted those policies at the federal level,” Nunn said, noting that Trump was the first president to make ending the epidemic a priority. “Now they’re undercutting their own successes. It’s so strange.”

    Though hundreds of millions of dollars in federal funds had been awarded for the grants, the terminations will not recoup all of that money for the administration, since many are years into their work. Some are even already finished.

    Nathaniel Albright learned earlier this month that an NIH grant supporting his doctoral research was cancelled even though his project had already been completed. A PhD candidate at Ohio State University, Albright is defending his dissertation at the end of the month. Still, Albright is concerned how the cuts affect the future of the field.

    “It’s created an environment in academia where my research trajectory is now considered high risk to institutions,” said Albright, who is currently struggling to find postdoctorate positions at universities.

    Pamina Gorbach, an epidemiologist who teaches at University of California, Los Angeles, had been following hundreds of men living with HIV in Los Angeles for 10 years to learn their needs. She had been awarded an NIH grant to better facilitate their treatment through a local clinic. Her funding was cancelled earlier this month as well.

    “It’s really devastating,” said Gorbach. “If you’re living with HIV and you’re not on meds, you know what happens? You get sick and you die.”

    Clinic staff in Los Angeles will likely be laid off as a result of the cuts, said Gorbach. Others agreed one immediate concern was how to pay their research staff, since the funds from a grant are immediately frozen once it is terminated. The NIH funds also often make up at least a portion of university professor’s salaries, all said they were most alarmed by the impact on services for their patients and the loss of progress toward ending the epidemic.

    “This is erasing an entire population of people who have been impacted by an infectious disease,” said Erin Kahle, the director of the center for sexuality and health disparities at the University of Michigan who lost an NIH grant.

    Scrapping an entire category of disease from research will have innumerable downstream effects on the rest of healthcare, she added.

    “This is setting us back decades,” said Kahle. The Guardian

  • M&A transactions tend to surge in value; medical is a show-stopper

    M&A transactions tend to surge in value; medical is a show-stopper

    Mergers and acquisitions in India will likely see a surge in volumes in 2025-26 both because of a volatile equity market and strong corporate balance sheets, said investment bankers and dealmakers at the Mint India Investment Summit.

    M&A activity in 2024 fell to a four-year low in terms of deal value to $80.5 billion, down 11.4% from the year before, show data from LSEG Deals Intelligence. Last year, however, was India’s busiest dealmaking year with 2,756 deals announced.

    “If you are talking about M&A, in the last two years M&A volumes were down. That was offset by robust equity market volumes,” said Arun Saigal, managing director and head of financing and M&A, Barclays India. “If you were to ask me going forward for the next 12-18 months, we would expect M&A volumes to be up because equity markets are clearly a little more volatile.”

    The drivers for domestic M&A activity are many, added Chandresh Ruparel, MD and head of India, Rothschild & Co, with “India being still a bright spot relative to where the world stands today. The market is huge. There is a lot to be achieved”.

    Corporate balance sheets of Indian companies “are the strongest ever”, he added.

    “I think there is a lot of cash sitting on Indian balance sheets today. Second, the size of the opportunity is huge. You look at the Birlas, Adanis and Tata’s, everybody’s out putting greenfield plants now and diversifying. So the opportunity set and the returns that India has to offer are significant,” said Ruparel.

    Saigal expects more inbound M&A activity in the coming years. “It (inbound activity) is down to about $50 billion a year, which is lower from the peak of $70 billion. One thing is clear: There is a lot of dry powder, and outside of US there is a lot of interest towards India globally,” said Saigal.

    The top sectors
    Among sectors, infrastructure, energy, cement, healthcare and pharmaceuticals, and media and telecom are likely to witness the maximum number of deals and consolidation over the next few years, said experts at Mint’s annual summit, which was held on Friday and Saturday.

    “Traditionally, we have gone through greenfield, brownfield M&As. We are seeing a lot more activity on the M&A side,” said Amit Kothari, chief executive, JK Cement, UAE. “We have done about 3-4 acquisitions over the last two years. We entered the paints industry through our white cement business, which is a natural next step. And the reason for going for an acquisition was not just adding capacity, it was also in the interest of adding know-how and innovation.”

    Saigal added that from a domestic standpoint, a large part of M&A activity would be due to consolidation in the sectors mentioned above.

    “Corporate balance sheets are incredibly clean. I think scale is also helpful in lowering cost of capital, navigating the ecosystem. So some of those drivers will continue,” said Saigal.

    Sidharrth Shankar, partner, JSA Advocates and Solicitors, said the information technology and IT-enabled services (IT and ITes) sector was undergoing a consolidation.

    “We are looking at whether there could be Indian conglomerates looking at… an overseas acquisition that is a billion-dollar deal. You can look at HCL’s large deal, which they’ve recently concluded in 2024. We’ve looked at Wipro buying out, we looked at L&T. So if you look at FY24 itself, we saw a fair bit of acquisition kind of mode,” said Shankar.

    Saigal added that as Indian companies grow in size, scale and capabilities, domestic and inbound deals would continue to dominate M&A activities in India.

    “Outside of the US, India is probably the second place most investors want to put money to work. So as these valuations correct, you would definitely see inbound activity increase, chiefly from the financial investor community,” said Saigal.

    The renewables opportunity
    Experts at Mint’s investment summit said India’s renewable energy industry was also likely to attract a significant number of deals as companies raced to capitalize on the country’s aspiration to become a net zero emissions nation by 2050.

    Rothschild’s Ruparel said the potential of the renewables sector has barely been tapped. “We have not even scratched the surface as far as renewables is concerned,” he asserted, pointing to the certainty of returns being attractive to investors and the sheer requirement of powering the Indian industry on sustainable energy.

    “Renewables and broader infrastructure have probably been one of the busiest sectors consistently for the last few years,” added Saigal.

    All that said, Shankar of JSA emphasized the critical role of corporate governance standards in attracting both domestic and foreign investments as far as M&A deals are concerned. LiveMint

  • Civic group in Coimbatore to build MPM Healthcare Center

    Civic group in Coimbatore to build MPM Healthcare Center

    A Model Primary Maternity Care Centre will be set up at the Seethalakshmi Urban Primary Health Centre in R.S. Puram, Coimbatore, to provide round-the-clock maternity services. The facility aims to provide early care for the increasing number of high-risk pregnancies, which have led to a decline in normal deliveries at Corporation-run health centres.

    According to the civic body, Coimbatore city records 24,000 to 25,000 child births annually. The 32 urban primary health centres (UPHCs) under its administration each have only one doctor, and during night hours, only one nurse is available. This has limited maternity care services, forcing many economically disadvantaged families to rely on the Coimbatore Medical College Hospital for deliveries.

    The proposed centre will have five dedicated doctors, two paediatricians (on-call), ten nurses, three laboratory technicians, and six medical staff, in addition to the three maternity specialists already serving under the Corporation. Medical equipment, hospital beds, medicines, and emergency communication facilities will be procured at an estimated cost of ₹1.5 crore. The initiative aims to improve maternity care accessibility for low-income families in urban areas.

    City Health Officer A. Mohan said that while UPHCs currently handled around 30 to 35 deliveries a month, the number used to be around 50. “High-risk cases are increasing, and UPHCs generally refer such cases to government hospitals even for consultation and early care. To decongest the government hospital and improve convenience for the public, a model centre dedicated to provide care for high-risk pregnancies will be established. Based on its performance, there are plans to set up similar centres in each of the city’s five zones. A detailed study will be conducted in consultation with senior gynaecologists and experts before finalising the plan,” he said.

    He also mentioned that a 3,000 sq. ft. dialysis centre planned at the Seethalakshmi health centre was expected to be ready within a month. The Hindu

  • WWE’s $5B contract with Netflix will result in exclusive content

    WWE’s $5B contract with Netflix will result in exclusive content

    World Wrestling Entertainment (WWE) said its $5 billion partnership deal with Netflix, giving exclusive streaming rights for its shows on the platform, helps with global growth in a major way.

    Speaking to media before the launch of WWE content from April 1, Chris Legentil, Executive Vice President of Talent Relations and Head of Communications at WWE said, “When you take a platform like Netflix, it has a massive subscriber base and a market like India is the largest populated market in the world. We see that as great synergy because we want to create content that makes sense for everyone. Working with Netflix, we see some of this great data from different markets around the world. That’s going to help us inform the strategy of where we lay things out as we’re deciding where we go in our 2026-2027 calendar.”

    The Netflix-WWE partnership allows Netflix to offer WWE’s weekly flagship shows — Raw, NXT, and SmackDown — as well as WWE’s Premium Live Events including Summer Slam, Money in the Bank, Royal Rumble and the upcoming WrestleMania to its Indian audience. India is WWE’s biggest audience in terms of viewership.

    Nick Khan President of WWE estimated that 34 million of WWE’s 110 million YouTube subscribers are from India, which makes such partnerships “a great way” to reach fans.

    When asked about sub-licensing the linear TV rights to a local broadcaster, Brandon Riegg, Vice President, Nonfiction Series & Sports at Netflix, said the platform will have full exclusivity. He said that doing so allows Netflix to serve as a one-stop shop.

    “With the wide variety of programming that WWE offers, it feels like what’s best for the fan, what’s best for the viewer, is that they can go to the one place and have access to all of that,’ said Riegg.

    WWE mentioned that it is also considering bringing flagship shows like Raw and SmackDown to India and looking for talent internationally as well. The Hindu business line

  • JioHotstar hits 100M users via events & sports

    JioHotstar hits 100M users via events & sports

    Reliance Jio’s streaming platform JioHotstar has surpassed 100 million subscribers, according to a release on Thursday. The platform attributed this to its portfolio of content ranging from TV shows, reality shows, digital specials, to livestreaming of sports and major events like Coldplay and Mahashivratri.

    “We have always believed that world-class entertainment should be accessible to all, and crossing 100 million subscribers is a testament to that vision,” said Kiran Mani, CEO – Digital, JioStar.

    JioHotstar’s subscription numbers surpassed the sum of paid subscribers reported by erstwhile separate platforms JioCinema and JioHotstar. In the quarter ending September 2024, JioCinema had 16 million subscribers and Disney+Hotstar had 35.9 million subscribers. Even Netflix India was estimated to have over 10 million subscribers in February 2024, as per a Media Partners Asia report.

    In February of this year, fans of the Indian Premier League (IPL) learnt that they will have to pay for viewership on the new JioHotstar platform. Previously, viewers had watched the matches for free on JioCinema after the platform bagged the digital streaming rights in 2023. However, now the matches will be available at a minimum subscription of ₹149. The Hindu business line

  • BSNL owes IMC ₹3.35 crore

    BSNL owes IMC ₹3.35 crore

    With the current fiscal year nearing an end, the Indore Municipal Corporation (IMC) has collected Rs 3.35 crore from the Bharat Sanchar Nigam Limited (BSNL) as dues. This contribution is part of a larger effort by various government departments to clear their outstanding dues and support urban development initiatives.

    IMC Revenue in-charge Niranjan Chouhan said the municipal body has been actively working to ensure that property tax and other dues are deposited. These contributions are a crucial part of this revenue collection drive, helping the IMC work on essential infrastructure and public services.

    Some government institutions, including the police departments and the CPWD, have yet to clear their outstanding dues despite repeated communications from the municipal corporation, said IMC officials. They said the IMC’s proactive approach in tax collection will contribute significantly to the city’s infrastructural growth, ensuring better facilities and services for residents. Free Press Journal

  • For Starlink, access to India may open up new markets

    For Starlink, access to India may open up new markets

    As Starlink nears regulatory approval in India for satellite broadband services, analysts say a victory there could pave a road into more emerging markets and boost the company’s ambitions to add a million subscribers every year.

    There are still legal hurdles to overcome, and competition from companies such as Eutelsat and China’s SpaceSail, which is entering Brazil, Malaysia and Kazakhstan. SpaceX also argues that U.S. regulations put it at a disadvantage against foreign rivals.

    But a foothold in India would be a potential $25 billion boon for Starlink, helping it reshape that country’s satellite broadband industry and making an attractive case to other developing markets, experts say.

    “Starlink securing the contract serves both as a strategic PR victory and a demonstration that it has successfully navigated challenges that seemed insurmountable for most other operators. From Starlink’s perspective, India is not only a credibility boost but also a crucial test of its economic feasibility in emerging markets,” said independent satcom specialist Davis Mathew Kuriakose.

    Elon Musk’s SpaceX-owned satellite internet network has been waiting since 2022 for licenses to operate commercially in India, locked in a regulatory impasse over spectrum allocation. Starlink did not respond to an email seeking comment.

    The standoff saw Starlink clash publicly with Mukesh Ambani’s Reliance Jio and Sunil Mittal’s Bharti Airtel over whether India should auction satellite broadband spectrum – favouring existing telecom players – or allocate it administratively, which would benefit newer entrants such as Starlink.

    India decided in October it would allocate the bandwidth.

    In a surprise development this month, Mittal’s Airtel and Ambani’s Jio signed separate agreements with SpaceX to bring Starlink services to India, a move industry insiders say signals that regulatory hurdles may soon clear.

    Goldman Sachs forecasts that low Earth orbit (LEO) subscription fees, which include broadband and mobile services, will get dramatically cheaper, with prices dropping from $148 per month in 2023 to about $16 per month by 2035. Goldman also estimates the global satellite market will surge from $15 billion to at least $108 billion by 2035.

    Space-focused financial firm Quilty Space projects Starlink will add 3 million subscribers globally in 2025, with 1 million coming from Asia, its director of research Caleb Henry said.

    “India will be the biggest contributor to Starlink’s Asia subscriber growth once authorized,” Henry said.

    A seat at the table
    Six industry experts interviewed by Reuters noted that SpaceX’s revenue gains in India will depend on its pricing strategy.

    Three of them expect Starlink to offer competitive broadband plans, potentially starting at $15 a month — a price point designed to challenge India’s existing market, where basic plans start at about $12.

    “There’s always going to be a subset of the market willing to pay a premium for convenience. India is an aspirational market, and the brand value of having a Starlink connection is also an added edge,” said Vivek Prasad, principal analyst for space and satellite at consulting firm Analysys Mason.

    Starlink operates in more than 120 markets with varying levels of regulatory complexity, including spectrum coordination requirements.

    The company’s deals with Reliance and Airtel need final regulatory clearances but were signed just weeks after Prime Minister Narendra Modi met Musk in Washington — an interaction that analysts say may have helped smooth the way.

    Approval in India would give Starlink a leg up on any rivals hoping to enter that country, said three industry executives who declined to be named because of business sensitivities.

    “India’s satellite internet market is just coming up, with a potential addressable market of some 700 million customers. Starlink gets a seat at the table to influence how that market develops,” said one senior executive.

    India’s space regulator and the department of telecoms did not immediately respond to an email seeking comment on Starlink’s license approval.

    The SatCom Industry Association – India said Starlink’s entry would foster growth in the sector.

    “This will fuel employment growth in satellite network operations, ground stations, equipment manufacturing, and rural broadband services, while enhancing the global competitiveness of Indian space startups collaborating with international players,” the industry body said. Reuters

  • Sky is restructuring and preparing layoffs, put 2,000 UK jobs at risk

    Sky is restructuring and preparing layoffs, put 2,000 UK jobs at risk

    The British-based Sky broadcasting group said on Thursday that 2,000 jobs in the UK, or seven percent of its workforce, could be at risk as the company shakes up its customer services.

    “We’re transforming our business to deliver quicker, simpler, and more digital customer service,” a spokesperson for the US-owned broadcaster told AFP.

    It was about building “a future-ready Sky”, the spokesperson said, adding customers wanted different ways of contacting the company 24 hours a day, seven days a week.

    Three of its 10 contact centres in northern England are believed to be closing, putting around 2,000 roles at risk.

    While customers wanted to be able to speak directly to an adviser, they also wanted the flexibility to pay bills or manage their contract digitally, the company said.

    Sky said its transformation would involve a multi-million-pound investment in its new state-of-the-art campus in Livingston, Scotland.

    Formerly owned by media baron Rupert Murdoch, Sky has been run by US cable giant Comcast since 2018.

    In addition to the proposed closure of the Stockport, Sheffield and Leeds Central contact centres, operations at Dunfermline and Newcastle would also be affected. AFP