Light Reading

Euronews: EU Says No to Trade War With China

Paul Rainford
10/22/2012
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China, MegaFon and Vivendi loom large in today's trot through the EMEA headlines.

  • The European Commission 's trade chief Karel De Gucht believes a trade war with China will be avoided, though he told Reuters that European Union countries would act against any unfair competition from China. The EC has already brought a trade case against China regarding solar panel imports and is also investigating the business practices of telecom equipment vendors Huawei Technologies Co. Ltd. and ZTE Corp. (Shenzhen: 000063; Hong Kong: 0763). (See Euronews: UK Spooks Back to Haunt Huawei and US vs Huawei/ZTE: The Verdict.)

  • Russian mobile operator MegaFon is insisting that investor interest in its proposed initial public offering (IPO) is strong, despite deciding to delay the start of its flotation roadshow until its third-quarter results have been published in early November, reports the Daily Telegraph. (See Euronews: More 4G for Russia.)

  • Qatar Telecom QSC (Qtel) may be able to help Vivendi out by buying the French conglomerate's controlling stake in Maroc Telecom , reports Reuters, though the U.A.E.'s Etisalat is also thought to be in the frame. (See Euronews: All Change at Vivendi.)

  • Elsewhere on the Arabian peninsula, Emirates Integrated Telecommunications Co. (du) has seen its third-quarter net profits rise 33.8 percent year-on-year to 654 million Emirati Dirhma (US$178 million), thanks not least to a near-doubling of mobile data revenues.

    — Paul Rainford, Assistant Editor, Europe, Light Reading

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