Light Reading

Euronews: AlcaLu's Stock Slumps

Paul Rainford

Alcatel-Lucent (NYSE: ALU), Deutsche Telekom AG (NYSE: DT) and OTE S.A. liven up a quiet news day on the EMEA front.

  • Third-quarter revenues at Alcatel-Lucent were down 2.8 percent year-on-year to €3.6 billion (US$4.64 billion), though a shrinking gross margin -- down to 27.9 percent -- meant that this translated into a net loss of €146 million ($188 million) for the vendor, compared with a net profit of €194 million ($250 million) a year ago. The vendor's third-quarter results sent its share price tumbling by 6.8 percent to €0.77 on the Paris exchange, giving the vendor a market value of just €1.78 billion ($2.3 billion). (See Margin Misery for Alcatel-Lucent, Euronews: AlcaLu Shrinks Top Table and Alcatel-Lucent Unveils Revamp.)

  • Deutsche Telekom is joining the growing list of European carriers considering cutting -- or actually cutting -- its dividend, according to a report on Reuters, citing a story in German daily Handelsblatt. In recent months Orange (NYSE: FTE), Telefónica SA (NYSE: TEF), KPN Telecom NV (NYSE: KPN) and Telekom Austria AG (NYSE: TKA; Vienna: TKA) have all committed to reduced payouts. (See Euronews: Orange Squeezes Its Payout and Euronews: Telekom Austria Slashes Dividend.

  • Deutsche Telekom is also the principal shareholder in OTE, the Greek operator that is struggling cope in the face of the incredibly tough economic situation there. Reuters reports that OTE's latest cost-cutting measure sees it encouraging up to 1,800 employees in its fixed-line unit to take early retirement -- though it's hard to see that being a popular option in the current climate. (See OTE Cuts Pay.)

    — Paul Rainford, Assistant Editor, Europe, Light Reading

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