Light Reading

Euronews: EU Bigwigs Push Back Kroes Plan

Paul Rainford
10/25/2013
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Also in today's EMEA roundup: Technicolor shares dip; Belgacom up against it; Cisco wins in Saudi; UK's unconnected roads.

  • In what is bound to be seen as a blow to the plans long championed by the European Commission 's vice president for the Digital Agenda, Neelie Kroes, EU heads of state have agreed to push back the deadline for adopting new laws relating to data protection and the overhaul of the European telecom industry, reports Dow Jones. The proposed changes won't now kick in until 2015, as opposed to next year, which was the original target. (See Continental Shift and Euronews: 'Single Market' Plan Rolls Into Action.)

  • Times are still tough for French home gateway and set-top box vendor Technicolor (Euronext Paris: TCH; NYSE: TCH), which saw its share price dip more than 6 percent Friday morning following the publication of its third quarter financials. Revenues from its existing lines of business are down 4.4 percent to €881 million (US$1.2 billion), though its Connected Home division, which generated revenues of €361 million ($499 million) in the third quarter, is doing well, having reported its sixth consecutive quarter of year-on-year sales growth. For more details, see this press release.

  • As if Belgacom SA (Euronext: BELG) didn't have enough to worry about with all the ongoing data-spying shenanigans, it has now posted third-quarter financials that show its EBITDA (earnings before interest, tax, depreciation and amortization) is down 7.7 percent to €428 million ($590 million) on revenues that were down 3.2 percent to €1.56 billion ($2.15 billion). (See Euronews: Belgacom Spy Plot Thickens and Euronews: Who Hacked Belgacom?.)

  • Saudi Telecom Co. (STC) has awarded Cisco Systems Inc. a deal to provide it with CRS-X routers and the vendor's Hosted Collaboration Solution (HCS) for the development of managed unified communications services. For more, see this Arab News report.

  • Telefónica SA (NYSE: TEF)'s plan to gradually gain greater control over Telecom Italia SpA (NYSE: TI) via the Telco investment vehicle could be affected by proposed new legislation that would introduce a lower threshold for obligatory takeover bids, reports Reuters.

  • A new report from UK regulator Ofcom reveals that although "superfast" fixed broadband now reaches 73 percent of UK premises, mobile broadband coverage on many major roads is decidedly patchy, with 9 percent of the road network having no 3G coverage at all, let alone 4G.

  • Will Apple Inc. (Nasdaq: AAPL) ever make it big in Russia? Not unless they can make their iPhones cheaper. That's the verdict of one analyst cited on Bloomberg, in a report that points out that the Russian price (around $800) of Apple's latest model, the 5c, is equivalent to the average monthly wage there.

    — Paul Rainford, Assistant Editor, Europe, Light Reading

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    albreznick
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    albreznick,
    User Rank: Blogger
    10/27/2013 | 8:50:22 PM
    Technicolor results
    Interesting to see Technicolor's overall revenues go down when its Connected Home division did gairly well. What's dragging ther company down, Paul? Is it a temporary thing or more long-term? 
    DOShea
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    DOShea,
    User Rank: Blogger
    10/25/2013 | 10:32:39 PM
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    I wonder how many more delays we'll see of this plan. Will it always be an ambitious idea that needs a little more time to get right?
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