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Euronews: NSN Gives Nokia a Lift

Nokia Corp. (NYSE: NOK), Nokia Networks and Telenet proffer something for the weekend in today's jog through the EMEA headlines.

  • Shares in Nokia rose 9 percent on the Helsinki exchange on Thursday, reports the BBC, despite the €576 million (US$755 million) third-quarter operating losses reported earlier in the day. The stronger performance of its Nokia Siemens Networks joint venture, which reported much improved operating profits from revenues of €3.5 billion ($4.6 billion), up 3 percent year-on-year and up 5 percent compared with the second quarter, contributed towards the improved investor sentiment. (See APAC Boosts NSN's Q3 and Euronews: Nokia Can't Stop Devices Slide.)

  • The Italian Supreme Court has ruled that mobile phones can cause brain tumors, according to a report in British tabloid The Sun. Businessman Innocente Marcolini, who says he was on a mobile or cordless phone for up to six hours a day for 12 years, was diagnosed with a tumor after suffering head and chin pains.

  • Telenet, the Belgian cable/mobile operator that is the subject of an attempted buyout by Liberty Global, saw its net profits for the first nine months more than double year-on-year to €31.1 million ($40.5 million), though this flatters Telenet somewhat as last year's equivalent results were hit by an impairment charge. Revenues rose 8 percent to €1.09 billion ($1.42 billion). (See Liberty Global Bids for Telenet Total Ownership.)

  • There was also an encouraging set of results for Turkish operator Turkcell Iletisim Hizmetleri A.S. (NYSE: TKC), which posted third-quarter group net profits up 6 percent year-on-year to 571 million Turkish Lira ($317 million). (See Turkcell Reports 6% Hike in Q3 Profit.)

    — Paul Rainford, Assistant Editor, Europe, Light Reading

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