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Euronews: Dec. 20

Telenor Group (Nasdaq: TELN), Draka Holding NV (Amsterdam: DRAK.AS), and Swisscom AG (NYSE: SCM) are up and at 'em in today's Euro telecom news roundup.

  • Norwegian carrier Telenor, which holds a 39.5 percent stake in Russian group VimpelCom Ltd. (NYSE: VIP), has officially come out in opposition to the Russians' proposed takeover of Weather Investments, which owns, among other things, Orascom Telecom and Wind Telecomunicazioni SpA . A Telenor spokesman said the company did not believe the transaction made "strategic or financial sense" for VimpelCom's shareholders. (See Telenor Opposes VimpelCom Acquisition, Euronews: Oct. 4, and VimpelCom Gets Wind.)

  • China's Xinmao Group has confirmed its intention to make a €1 billion (US$1.31 billion) bid for Draka, the Dutch-owned cable maker, reports Reuters. For its part, Draka says it wants to go with French rival Prysmian SpA 's earlier bid. (See Draka's In Demand.)

  • Swisscom is seeking to bolster its position in the managed services market with the acquisition of Axept AG , a 90-strong company based in the Swiss town of Glattbrugg. The value of the deal was undisclosed. (See Swisscom Acquires Axept AG.)

  • Tieto Corp. , the Finnish systems integration and Service Provider Information Technology (SPIT) specialist, is giving itself a thorough fettle-out for the new year, introducing a new operating model and appointing a new leadership team. Its business structures in Germany come in for special attention, where new "competence centers" will be set up. (See Tieto Revamps.)

    — Paul Rainford, Assistant Editor, Europe, Light Reading

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