Eurobites: Telia cuts jobs in Finland

Nordic operator Telia is to make 500 employees redundant in Finland following the conclusion of restructuring talks with employee representatives, according to Finnish news website YLE. In a press release, Telia Finland CEO Heli Partanen said that the reforms were necessary to create "a faster, simpler and more efficient Telia." The job cuts are part of a wider redundancy program that will see up to 3,000 people leave the Telia group of companies. Around 45 new roles will be created in Finland as part of the restructuring, while 160 employees will transfer from Telia Company to Telia Finland. Telia currently employs around 4,000 people in Finland, said the YLE report.

The French state has completed its acquisition of an 80% stake in Alcatel Submarine Networks (ASN) from Nokia, for €350 million (US$374 million). According to the French government, the deal aims to guarantee the "digital independence" of France and its European partners. Under the terms of the agreement, Nokia will retain a 20% shareholding and board representation in the short term, though the state will ultimately acquire Nokia's remaining interest.

5G networks have proved a hit at major events during 2024, according to an Ericsson study. The study polled a sample of the 14 million fans who had attended various mammoth gatherings, such as Taylor Swift's Eras concerts, and found that two out of three 5G users reported their expectations for connectivity were met or exceeded, with 5G having 20% more satisfied users than 4G at the same venue. The study also found that consumers are willing to pay a premium – up to 15% more than the original ticket price – for guaranteed connectivity and "app experience" during events.

Third-quarter EBITDA (earnings before interest, tax, depreciation and amortization) at Italian towerco Inwit rose 6.4% year-over-year, to €237.2 million ($253.7 million), on consolidated revenues up 7.6%, to €260.3 million ($278.3 million). During the quarter, Inwit installed 200 new towers and registered 910 new hostings for mobile operators and other customers. Looking ahead, Inwit said it expects full-year revenues to grow in the lower part of the €1.03-€1.06 billion ($1.10-$1.13 billion) range previously identified.

UK altnet Connexin has completed the first stage of its £58 million ($74.5 million) Project Gigabit contract for the provision of high-speed broadband to over 34,000 homes in rural parts of Nottinghamshire and Lincolnshire. The first premises are expected to be connected by early 2025. Project Gigabit is the UK government's £5 billion ($6.4 billion) program that aims to enable hard-to-reach communities to access gigabit-capable broadband.

The Amsterdam and Paris offices of streaming giant Netflix have been raided by the authorities as part of investigation into suspected tax fraud, the BBC reports. Netflix is also being investigated for tax filings for 2019, 2020 and 2021, the report adds.