- Elephant Talk Communications (ETAK) is up 11.8% premarket after signing a settlement of about $13.5M (in Elephant Talk's favor) to end their mobile network enablement relationship.
- The deal lets Iusacell -- now a part of AT&T -- get infrastructure suppliers aligned with its new parent, and doesn't preclude future business between the two.
- The settlement consists of $12.6M in cash and the rest in exchange of obligations. It "provides us with significant means to carry out our business plans by providing an important cash settlement and allowing us to remain the owner of the platforms in Mexico," says Elephant Talk CEO Steven van der Velden.