Also in today's EMEA regional roundup: Ericsson restates its numbers; Google invests in Currencycloud; EU court reins in "right to be forgotten"; eir renegotiates loan terms.
Deutsche Telekom AG (NYSE: DT), Ericsson AB (Nasdaq: ERIC) and Telefónica are making up the European contingent in a new cross-industry project called Zero Touch NSM, which will evaluate the challenges thrown up by network and service management (hence the "NSM" bit). The project, which involves more than a dozen companies in all, will run for three months, ending in June. The ultimate aim is to identify a new approach to managing networks.
Ericsson has reported restated financials for 2015 and 2016 using its new three-segment approach, the segments in question being Networks, IT & Cloud, and Media. See below for an overview of the restated numbers:
UK mobile payments startup Currencycloud has attracted a $25 million investment led by the venture capital unit of Alphabet Inc. , parent of the better-known Google (Nasdaq: GOOG). As Bloomberg reports, the cash will be used to help Currencycloud expand in the US and elsewhere.
In other Google-related matters, the European Court of Justice has ruled that the so-called "right to be forgotten" does not extend to company records, Reuters reports. The case arose after an Italian businessman claimed his new-build apartments weren't selling because information about a past bankruptcy was still coming up in search results. The court ruled that such registers had to be public for legal clarity and to protect the interests of third parties. (See Eurobites: EU Warns Google Over 'Right to Be Forgotten' Opportunism.)
Irish incumbent operator eir has negotiated new terms for a €1.6 billion loan, which it says will save it €12 million a year. A battalion of banks, including Goldman Sachs, Deutsche Bank and J.P. Morgan, were involved in the deal.