Latest News #002

1. The Japanese corporation "Mirait Holdings", engaged in developments in the field of information and telecommunications infrastructure, will acquire a Chinese telecommunications tower operator in order to meet the growing demand for 5G services from mobile operators in the country.



The Japanese holding company said it would increase its stake in Shanghai Changling Communications Equipment to 50.1% from the current 17.3% through an additional purchase of securities scheduled for July 1 for an undisclosed amount.



The Tokyo-based engineering company announced on Friday, May 22, that it will conduct this transaction through Lantrovision (C) Limited, which is its Singapore subsidiary with 100% participation.



The Chinese company Shanghai Changling Communication Equipment has built several communication antenna masts, providing mobile operators with services for their joint use.



The Japanese corporation, Mirait Holdings, said that it anticipates stable revenues and expanding the scope of its operations by effectively meeting the demand for 5G-related activities while conducting an indefinite fifth-generation mobile cellular network propaganda campaign in China.






2. Postponing the Tokyo Olympics next year due to the coronavirus pandemic will cost the International Olympic Committee up to $800 million.



"We will cover these costs," said IOC President Thomas Bach. The competition in the Japanese capital was supposed to start on July 24, but now it will be held at the turn of July and August 2021.



"This crisis has serious financial implications for the Olympic Games, the entire Olympic movement and the IOC. We assume that we will have to pay up to $800 million for the part of the preparation for which we are responsible," Bach admitted during a press conference after a meeting of the executive committee.



"Approximately $150 million will go to the international federations of individual sports and national Olympic committees. Thanks to this, these institutions should be able to continue their activities and support athletes," the IOC president added.



However, most of the funds will be allocated for the maintenance of the "spirit of the games and the quality of the competition." The IOC will continue to seek funds for this. "We will turn over every stone. There is no taboo here — everything will be discussed," Bach said.



The amount he announced does not take into account the losses incurred by the organizing committee of the Olympics, as well as the Tokyo and Japanese governments, in connection with the postponement of the games. Thomas Bach did not want to answer the question about the future of the games if they could not be held next summer. See speed in milliseconds on the free proxy list before you connect.