June 1, 2012 16:39
Security tell NME that they were instructed to turn away anyone with a Slash t-shirt
Photo: PA
The division between Guns N' Roses' current line-up and their former members is well documented, with the fallout between singer Axl Rose and guitarist Slash particularly infamous.
However, the current line-up's management team have taken extreme steps to distance themselves from their classic version, by banning anyone coming to their UK tour from wearing a Slash t-shirt.
The source then asked security if this was the case and was told by a member of the venue's team: "We were told by the management not to allow anyone into the O2 Arena who is wearing a Slash T-shirt and we are asking anyone who is to remove it and if they refuse they will be turned away."
Then asked what about the people sitting at the back who cannot be seen from the stage, the security guard replied: "This is what we were told."
Speaking to NME today (June 1) about his ordeal, Revell described what had happened. He said: "I felt very angry because I was looking after my little brotther at the time and felt as though my freedom to wear what I want had been taken away from me, however i did not react angrily as I didn't want to spoil the show for him."
Revell then spoke of his anger about the request and revealed that the band were also so late onstage that he only saw three songs.
He added: "I have never experienced anything as insulting as that at a concert before and I had to sit there in my little brothers jumper and wait for Axl to turn up well over an hour late, which we could only stay to watch 3 songs as we had to catch a train back. I think that Axl Rose doesn't appreciate his fans or anyone for that matter, he needs to grow up and stop acting like a child."
As well as this, the band have been roundly criticised on their UK tour for their late starts, even taking to the stage at 11.15pm in Manchester on Tuesday (May 29).
Guns N' Roses end their UK tour tonight (June 1) with a second show at London's O2 Arena.
Guns N' Roses fan James Revell in the offending t-shirt
Video: Guns N' Roses At Reading Festival - The Fans' Reaction
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Saudi Telecom: suspension lifted but mystery remains - Financial Times
Some investors in the Saudi stock market breathed sigh of relief on Wednesday after the Capital Markets Authority lifted a suspension of trading on Saudi Integrated Telecom Company, known in Arabic as AlMutakamela.
The telecoms operator has been at the center of Riyadh market gossip for the past few months as bankers tried to piece together exactly why trading in its shares was halted on April 1, less than a year after its initial public offering.
Those who bought the shares in good faith were not able to sell for the entire suspension period. On Wednesday, they finally got some action. Turnover in AlMutakamela shares was the biggest on the market at 565m riyals ($150m), according to the bourse website.
A statement from the CMA on Tuesday gave some clues as to what went down at AlMutakamela:
The company submitted an examination report prepared by its external auditor which confirms the collection of the balance due from related parties amounted to approximately 261,87 million Saudi Riyals and the collection of founding shareholders’ share of 650 million Saudi Riyals. Moreover the company provided a letter from the bank confirms the deposit of approximately 911.87 million Saudi Riyals in the company’s bank account. The company has therefore rectified the qualifications of its external auditor on the company’s financial statement for the year ended 31/12/2011G, which related to that the founding shareholders, had not paid their share in the company’s capital and the withdrawal of funds for the benefit of the company’s founding shareholders. Since the reasons for suspending the trading of the company’s shares by CMA no longer exist, the CMA Board has issued a resolution to lift the suspension on the trading of the company’s shares starting from Wednesday, 20-6-2012.
While the statement sticks to typically impenetrable jargon, it alludes to one important thing: the company sold shares to the public without the founding shareholders having contributed to its capital.
Riyadh’s bankers are rightly asking how this was allowed to happen. Criticism has fallen on the capital markets authority, the ministry of trade and industry, the financial advisers, the telecoms licensing authority, the creditors. You name it – everyone, it seems, has found a different entity to blame.
Exactly what went wrong at AlMutakamela will probably remain hard to decipher. Investors have been left in the dark, unsure of what happened or of how to interpret its explanation. The suspension of AlMutakamela’s shares should be unsettling for foreign institutional investors preparing to enter the market.
The CMA published this statement on April 1:
The auditor’s report included some reservations where the company asked to liquidate the two guarantees proposed to the Communication and Information Technology Commission in cash and in kind to what the company would own from the license and frequency band to provide fixed communication services in the Kingdom of Saudi Arabia. The company would pay the license fee and the financial outcome that would be written in the books as a company asset offset by the payment of the founding shareholders’ share of 650 million Saudi Riyals in the company’s capital. The remaining balance of 364.638.952 Saudi Riyals from the two guarantees should be written as funding from the founding shareholders.
The auditor’s report included some reservations where the company asked to liquidate the two guarantees proposed to the Communication and Information Technology Commission in cash and in kind to what the company would own from the license and frequency band to provide fixed communication services in the Kingdom of Saudi Arabia. The company would pay the license fee and the financial outcome that would be written in the books as a company asset offset by the payment of the founding shareholders’ share of 650 million Saudi Riyals in the company’s capital. The remaining balance of 364.638.952 Saudi Riyals from the two guarantees should be written as funding from the founding shareholders.
Although it is just a small company, AlMutakamela and its saga have drawn the wrong kind of attention to the Arab world’s largest stock market. In what remains one of the most tightly regulated markets in the region, questions still remain over how much the regulators are willing to tell.
Related reading:
Saudi banks benefit from buoyant bourse, FT
Saudis set to open up access to bourse, FT
Saudi Tadawul poised to exercise more global appeal, FT
The Pirate Bay says BT block already breached - BBC News
BT has joined other UK internet service providers (ISPs) in blocking access to The Pirate Bay, a ban the group says users have already circumvented.
TalkTalk, Sky, Virgin, O2 and Everything Everywhere have already cut off access to the site, which hosts links to pirated music and video.
A High Court ruling in April ordered ISPs to prevent users accessing the site.
BT customers attempting access receive the message: "Error - site blocked".
Boosted trafficBT has also cut off access to other addresses, known as proxy sites, made available by The Pirate Bay.
But a representative of the UK Pirate Party - a political group that opposes the bans - told BBC News more proxy sites had been made available "within minutes".
“Start Quote
End Quote The Pirate PartyOur internet policy is not being run by our elected representatives, it is being dictated by the music industry”
About 10% of traffic to its proxy sites now seemed to be coming from BT customers, 30% from VirginMedia customers, 15% via Sky, 6% via TalkTalk and 3% via O2, he said.
BT declined to comment on reports the block had been circumvented.
The Pirate Party spokesman said public interest in the service following the ban had also boosted traffic to the party's website.
Democratic process"This increased traffic isn't just about The Pirate Bay; it seems that the proxy has sparked an interest in the Pirate Party itself, and we are seeing a significant uptick in membership and people navigating the rest of the site," he said.
"The volume of emails and phone calls into the party has also increased markedly."
The spokesman added: "Blocks on Pirate Bay have effectively short-circuited the democratic process.
"Our internet policy is not being run by our elected representatives, it is being dictated by the music industry."
KPN's fails to find buyer for E-Plus - Reuters UK
AMSTERDAM |
AMSTERDAM (Reuters) - Dutch telecom KPN's (KPN.AS) attempt to sell its German unit E-Plus to Spain's Telefonica (TEF.MC) - a move intended to ward off an unsolicited approach by Carlos Slim - has fallen through, just days before the Mexican tycoon's tender offer closes.
KPN's failure to find a buyer or merger partner for E-Plus, which some analysts had valued at between 8 billion and 10 billion euros, now leaves the Dutch telecoms operator with few other options to keep the Mexican billionaire at bay.
Slim's mobile phone giant America Movil (AMXL.MX) has little left to snap up in Latin America and has turned its sights on Europe in search of undervalued assets.
In recent weeks, it has launched a tender offer to buy up to 28 percent of struggling KPN, a move that could cost as much as $3.25 billion, and has built up a stake of more than 8 percent so far. It has also agreed to buy a 21 percent stake in Telekom Austria (TELA.VI) for about $1.1 billion.
KPN is due to respond on Thursday to America Movil's tender offer, which closes on June 27, but the Dutch telecom has already said the offer price of 8 euros per share undervalues its business.
KPN's shares closed at 7.9 euros, down 0.55 percent, on Wednesday.
The Dutch firm faces tough competition in its home market and has been looking at divesting its German and Belgian businesses.
Slim, the world's richest man, has said little about his intentions for KPN, his first venture into Europe.
But he is unlikely to want to sell E-Plus, the jewel in KPN's crown that accounts for most of KPN's customers, and has the highest core profit margin in the group, at 42 percent.
"ADVERSE CONDITIONS"
However, KPN's efforts to "unlock value" in E-Plus in order to fend off the Mexican group have so far failed, and on Wednesday it said that talks with parties - which it did not name - had broken off.
"The current adverse conditions in financial markets have meant that no agreement could be reached at this point in time, and talks have been terminated," KPN said in a statement.
KPN, which has a stock market capitalization of 11.3 billion euros, added that it believes other parties recognize the "significant value" in the large German market where consolidation is expected.
Spain's Telefonica had been seen as a possible white knight for E-Plus, even though it is strapped for funds and has a heavy debt load.
One possibility would have been to merge E-Plus with Telefonica's O2 Germany, people familiar with the matter had told Reuters, followed by a partial listing of the new company.
But earlier on Wednesday, a source told Reuters that Telefonica had no plans to interfere.
America Movil had no immediate comment.
With just a few days left before the tender offer closes, KPN could still use a tactic that's common in the Dutch corporate world, unleashing a risky "poison pill" defense to derail America Movil's approach.
But such a move - handing preference stock to KPN's "Stichting" or foundation that could outvote other shareholders - is fraught with uncertainty and could backfire through legal challenges by America Movil or KPN's own shareholders.
Robin Bienenstock, analyst at Bernstein Research, said KPN's statement read like an appeal to the foundation to take action.
"The reality is that Mr Slim's bid is opportunistic and finds KPN in a moment in which defense by a sale of assets to Telefonica is nigh on impossible. We think that there is a common sense argument for the foundation to give KPN's management a stay of execution, and enact their shares temporarily. But it will at this point be up to their lawyers and KPN to persuade or dissuade them of it."
She added, "We think that Telefonica could afford this deal were it to sell certain assets, and they are motivated to do so. But with so much focus on Spain, and its creaking banking system it is hard to see how they could possibly justify a deal today. In addition, an extension of time by any action of the foundation would have to give Telefonica enough time that they could sell some of those assets in an orderly fashion and (with luck) find a happier Spanish window onto the debt markets."
(Reporting by Sara Webb; Editing by M.D. Golan)
Wataniya Telecom partners with KidZania Kuwait as sponsor of the telecommunications centre within the city - AME Info
Much more than a children's museum or family entertainment center, KidZania takes interactive entertainment and learning to an entirely new level by combining role playing with real life.
KidZania creates a kid-centric city experience designed to educate and inspire 4- to 14-year olds - from arriving at the airport, to visiting a city center to exploring the city streets. We replicate the real world in a safe and self-contained over 7,000 square meter kid-sized city. As in the real world, children choose activities - such as being a police officer, doctor, journalist or a shopkeeper - and earn money which they can then spend or save. KidZania operates just like a real city complete with buildings, paved streets, vehicles, a functioning economy and recognizable destinations in the form of "establishments" sponsored and branded by leading multi-national and local brands. The facilities are designed to educate through experience, fostering the development of life skills, but from a kid perspective - it's all about fun.
KidZania, Inc., headquartered in Mexico, is privately held. This award-winning concept is recognized globally for its unique blend of entertainment and education for children. The first KidZania opened in Mexico City in 1999. There are eightother locations including, Monterrey, Mexico; Tokyo, Jakarta,Koshien, Lisbon, Dubai, Seoul and Kuala Lumpur. To date, more than 20 million kids and parents have visited the facilities globally. The trajectory continues with 13 facilities in development, including a new facility in Mexico City where kids can drive from point-to-point.
KidZania Kuwait is a (7,000 square meter) facility, located inthe Phase 3 extension of The Avenues.
Last in line, BT blocks The Pirate Bay; bypassed in minutes - ZDNet
British Telecom became the final broadband provider in the U.K. to block customer access to the The Pirate Bay following a court order forcing the move in April.
From around 12 midday BST on Tuesday, more than six million BT customers were faced with a “site blocked” message when trying to access the Magnet-link sharing site.
Some users were surprised to find that Web addresses and IP addresses that still worked for other broadband providers still threw up a blocked message.
It later transpired that BT had actively gone above and beyond in blocking access to the site from what the court order dictated. BT also cut off access to number of proxy websites used to bypass the block, but many new proxies are being added each day.
But it took literally minutes for customers to circumvent the block, partially thanks to a server IP address change by the site’s operators.
In April, five of the largest U.K. broadband providers — Virgin Media, Everything Everywhere, Sky, O2 and Be, and TalkTalk — were told to impose server-level blocks to prevent their collective 13 million customers access to The Pirate Bay.
BT was left out of the initial court order to grant the telcoms giant extra time to “consider its position.” Rumours suggested the telecommunications giant could enter into a deal with the British Phonographic Industry, the British record industry’s trade association, which brought the case to the High Court in London in the first place.
The total figure of blocked users represents roughly one-third of the U.K.’s population, and almost the entire U.K.’s broadband-using customer base.
According to TorrentFreak, an “immediate response” by the Swedish-based site was to enable two new IP addresses — .82 and .83 — within minutes of the BT block coming into effect.
A site insider said they can “continue adding new addresses for years.” Without another judicial intervention, there’s little that can be done about it.
And so the cat-and-mouse game continues.
Proxy websites are in high demand following the court order. The U.K.’s Pirate Party operates the most popular proxy, which allows users to access The Pirate Bay through a different server, and is now among the top 600 most visited websites in the United Kingdom.
The Pirate Bay switched to a Swedish .se top-level domain earlier this year, with the site’s founders claiming the Web address would no longer be susceptible to U.S. laws, unlike the .org top-level domain.
.SE senior legal counsel Elisabeth Ekstrand said in a company blog post that the domain name registrar has “not taken any actions following the ruling against TPB since we do not consider ourselves obligated to do so,” but warned it has always had “the right to take action based on a ruling against us pertaining to a specific domain name.” ZDNet’s Liam Tung has more.
BT declined to comment when approached by ZDNet.
Image credit: Luke Williams/Twitter; used with permission.
Related:
- CNET: ‘Censorship creep’: Pirate Bay block will affect one-third of U.K.
- U.K. to announce website blocking proposals “imminently”
- ZDNet: Don’t look to us to block the Pirate Bay, says its .se domain firm
- Goodbye, Pirate Bay: O2 forced to block access
- UK’s anti-piracy law delayed: ‘Three-strike’ warnings on hold
- Queen’s speech unveils UK’s Web, email monitoring plan
- ZDNet UK: Pirate Bay condemns Virgin Media hack
- Court bans Dutch party from helping Pirate Bay
- Hackers retaliate as Dutch ISPs told to block Pirate Bay
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