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Telecoms Retreat — Telecoms Roundup – Fox Business

Telecoms Retreat — Telecoms Roundup – Fox Business

Shares of telecommunications companies were lower.

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Bertelsmann SE is raising its stake in publisher Penguin Random House to 75%, tightening the German media company’s control over one of the top prizes in the book business in a multimillion-dollar bet on the future of print. Bertelsmann agreed to buy a further 22% stake in the joint venture from partner Pearson, which will retain a 25% stake in Penguin.

The Dutch arm of Brazilian telecom giant Oi SA, which says it was stripped of billions of euros as Oi descended into bankruptcy, has asked a U.S. judge for help extricating itself from its Brazilian affiliates.

-By Rob Curran,

(END) Dow Jones Newswires

July 11, 2017 17:44 ET (21:44 GMT)

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