Earnings reports

Euronews: Oct. 15

On the day the world's longest rail tunnel is completed under the Alps, Sony Ericsson Mobile Communications , Interoute Communications Ltd. , and Telenor Group (Nasdaq: TELN) are all aboard today's Euronews express.

  • Handset maker Sony Ericsson continues its turnaround from the dark days of 2009 with its latest figures. Net income for the third quarter 2010 of €49 million (US$69 million) compares very favorably to a loss of €164 million ($231 million) this time last year, but its average selling price has slipped from the second quarter's impressive €160 ($225). (See Sony Ericsson's Mixed Bag and Sony Ericsson Reports Q3.)

  • Pan-European network operator Interoute has reported improved financials for the first half of 2010. Could it be a takeover target? (See Interoute Looks Tasty.)

  • Norway's Telenor, the second-largest shareholder in VimpelCom Ltd. (NYSE: VIP), has expressed its doubts about the US$6.6 billion price the Russian group is proposing to pay for the telecom assets of Orascom Telecom boss Naguib Sawiris, reports The Financial Times. There is now uncertainty as to whether three of the assets, including Algeria's Djezzy GSM , will be included in the transaction.

  • A busy week on the state sell-off front: First it was Ukraine, then Serbia, and now Reuters reports that the disputed Eastern Europe territory some proudly call Kosovo has seen its parliament approve a government plan to sell a 67 percent (reduced from 75 percent) stake in its incumbent, Post and Telecommunications of Kosovo JSC (PTK) .

  • The European Union's General Court has upheld a €12.6 million ($17.7 million) fine slapped on German incumbent Deutsche Telekom AG (NYSE: DT) by the European Commission in 2003, reports European Voice. The EC imposed the fine as it believed DT was abusing its dominant position in the fixed-line market.

  • Starbucks at two o'clock! Mobile operator Telefónica UK Ltd. is launching a six-month trial of location-based marketing, using so-called "geo-fencing" technology that tells you, via your mobile, about special offers supposedly relevant to you if you're within spitting distance of a participating outlet. It's only slightly creepy: You have to sign up to receive this wondrous boon to modern living. (See O2 UK Debuts Location-Based Marketing.)

    Elsewhere in Europe:

    — Paul Rainford, Assistant Editor, Europe, Light Reading

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