The proposed sale of TalkTalk 's business-to-business unit to The Daisy Group for £175 million ($229.8 million) has collapsed. Shares in the UK broadband provider slumped 9% on Friday in the wake of the announcement, but have since recovered slightly, to 104.5p. TalkTalk recorded a pre-tax loss of £73 million ($97.7 million) in its most recent financial year, despite growing its customer base.
Deutsche Telekom AG (NYSE: DT) has confirmed that it will be rolling out fiber for a "network of the future" in the Stuttgart region of Germany, investing up to €1.1 billion ($1.2 billion) in the partly state-funded project. Trench-digging will start as soon as the final contract is signed, which should happen "by the end of the year." The ambition is to supply 90% of company sites in business parks with FTTH by 2022, with a half of all households and eligible schools also connected to the technology by 2025.
UK enterprise software giant Micro Focus has agreed the sale to private equity firm EQT of its SUSE open source infrastructure software unit for £2.535 billion ($3.34 billion), reports Reuters. The proceeds will help Micro Focus reduce its debt pile, which has built up following a series of significant acquisitions. (See LR Daily Sept 1.)
Here's a sign of the times: UK accountancy giant PricewaterhouseCoopers is to ditch nearly all its company landlines by the end of the summer, nailing its colors to the "mobile first," the Guardian reports. PwC employs around 18,000 people in 24 offices across the UK. The company, which has been in the news recently for more serious matters, told the newspaper: "It is all about changing working practices -- staff are a lot more agile and flexible. They may be working for clients or working from home."
A smartphone made of cork? You betcha. Portuguese tech firm Ikimobile is transferring most of its production to its home turf with a view to using the locally grown product for the cases of its phones, Reuters reports. Could be a big hit with sailors everywhere…
UK lawmakers still believe that Facebook is being evasive about its dealings with Cambridge Analytica, the company that imploded following revelations about the data it had sneakily scooped up from the social media network. As Reuters reports, the chair of the parliamentary committee looking into the matter said: "Facebook continue to display a pattern of evasive behaviour -- a pattern which has emerged over the course of our inquiry." (See Facebook: The Sick Man of Silicon Valley.)