& cplSiteName &

Eurobites: Indian Write-Down Sends Vodafone to 6.1B Loss

Paul Rainford
5/16/2017
50%
50%

Also in today's EMEA regional roundup: SFR has a pop at Orange; Sparkle adds providers to Sicily hub; cable M&A action in northern Spain; Nokia hired for Rwandan smart city project.

  • Vodafone Group plc (NYSE: VOD) recorded a loss of 6.1 billion (US$6.7 billion) in the year to March 31, which is being partly attributed to a 5 billion ($5.5 billion) write-down of its Indian unit in the face of fierce competition from new market entrant Reliance Jio, the Financial Times reports (subscription required). Shares in the group still rose 3.5% in Tuesday morning trading, however, as Vodafone raised its guidance for underlying or "organic" profit growth to a figure in the range of 4%-8%. Group revenue for the year decreased by 4.4% to 47.6 billion ($52.6 billion), partly because of foreign exchange movements. A full breakdown of the figures can be found here. (See Jio Piles Further Pressure Onto Indian Old Guard .)

  • Orange (NYSE: FTE) says that rival French operator SFR has filed a lawsuit against it, Reuters reports. The plaintiff is demanding a bigger share of Orange's fiber network, but a spokesman for Orange said that the existing agreement between the two operators had already been ratified by the regulator and the government.

  • Telecom Italia Sparkle , the international services arm of the Italian incumbent, has welcomed two new service providers to its Sicily Hub in Palermo. Expanding their reach in Europe and beyond with new points of presence are Zajil, a Kuwaiti outfit, and Pakistan's PCTL.

  • There's cable M&A action in northern Spain, with Basque market leader Euskaltel making an offer of around 700 million euros ($770 million) for rival Telecable, which has its heartland in the Asturias region. As Reuters reports, Telecable is owned by investment firm Zegona, and Zegona will retain a 15% stake in the combined company should the deal go through.

  • Nokia Corp. (NYSE: NOK) is to partner with the Rwandan government to drive the rollout of "smart city" technology in the African nation, in a project that will encompass applications dealing with issues such as public safety, waste management and healthcare. Nokia will collaborate with local development organization SRG on the project.

  • On another front there's good and bad news for Nokia: The good news is that Nokia is still the most valuable Finnish brand, with an estimated worth of 4.4 billion ($4.8 billion); the bad news is that in 2008, when men were men and Nokia mobile phones ruled the world, the brand was worth 22.5 billion ($24.9 billion). The figures come from UK firm Brand Finance, and are cited by Finnish website YLE.

  • Belgium's Proximus is to take its trial of Tessares' Multipath TCP (MPTCP) hybrid technology -- which combines the speeds of existing fixed (DSL) and mobile (4G/LTE) networks -- nationwide, with a view to commercial launch later this year.

  • Deutsche Telekom AG (NYSE: DT) has upgraded its Speedport Smart home router so that it's more in tune with the "smart home." As well as your common-or-garden WiFi, the router now supports the DECT ULE cordless standard, enabling, says DT, the integration of smoke detectors, thermostats and other smart home accoutrements.

    Paul Rainford, Assistant Editor, Europe, Light Reading

    (0)  | 
    Comment  | 
    Print  | 
  • Newest First  |  Oldest First  |  Threaded View        ADD A COMMENT
    Featured Video
    From The Founder
    Light Reading is spending much of this year digging into the details of how automation technology will impact the comms market, but let's take a moment to also look at how automation is set to overturn the current world order by the middle of the century.
    Flash Poll
    Upcoming Live Events
    November 1, 2017, The Royal Garden Hotel
    November 1, 2017, The Montcalm Marble Arch
    November 2, 2017, 8 Northumberland Avenue, London, UK
    November 2, 2017, 8 Northumberland Avenue London
    November 10, 2017, The Westin Times Square, New York, NY
    November 16, 2017, ExCel Centre, London
    November 30, 2017, The Westin Times Square
    May 14-17, 2018, Austin Convention Center
    All Upcoming Live Events
    Infographics
    With the mobile ecosystem becoming increasingly vulnerable to security threats, AdaptiveMobile has laid out some of the key considerations for the wireless community.
    Hot Topics
    Muni Policies Stymie Edge Computing
    Carol Wilson, Editor-at-large, 10/17/2017
    Is US Lurching Back to Monopoly Status?
    Carol Wilson, Editor-at-large, 10/16/2017
    Pai's FCC Raises Alarms at Competitive Carriers
    Carol Wilson, Editor-at-large, 10/16/2017
    'Brutal' Automation & the Looming Workforce Cull
    Iain Morris, News Editor, 10/18/2017
    Worried About Bandwidth for 4K? Here Comes 8K!
    Aditya Kishore, Practice Leader, Video Transformation, Telco Transformation, 10/17/2017
    Animals with Phones
    Selfie Game Strong Click Here
    Latest Comment
    Live Digital Audio

    Understanding the full experience of women in technology requires starting at the collegiate level (or sooner) and studying the technologies women are involved with, company cultures they're part of and personal experiences of individuals.

    During this WiC radio show, we will talk with Nicole Engelbert, the director of Research & Analysis for Ovum Technology and a 23-year telecom industry veteran, about her experiences and perspectives on women in tech. Engelbert covers infrastructure, applications and industries for Ovum, but she is also involved in the research firm's higher education team and has helped colleges and universities globally leverage technology as a strategy for improving recruitment, retention and graduation performance.

    She will share her unique insight into the collegiate level, where women pursuing engineering and STEM-related degrees is dwindling. Engelbert will also reveal new, original Ovum research on the topics of artificial intelligence, the Internet of Things, security and augmented reality, as well as discuss what each of those technologies might mean for women in our field. As always, we'll also leave plenty of time to answer all your questions live on the air and chat board.

    Like Us on Facebook
    Twitter Feed
    Partner Perspectives - content from our sponsors
    The Mobile Broadband Road Ahead
    By Kevin Taylor, for Huawei
    All Partner Perspectives