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Euronews: VimpelCom Postpones Euro Listing

VimpelCom Ltd. (NYSE: VIP), Nokia Corp. (NYSE: NOK) and Telekom Austria AG (NYSE: TKA; Vienna: TKA) lead us off in today's run through the EMEA headlines.

  • VimpelCom, the Russian mobile operator, has put off seeking a listing in Europe until an ongoing dispute between its two principal shareholders has been resolved, reports the Financial Times (subscription required). Altimo -- the telecom arm of Russian conglomerate Alfa Group -- and Norwegian operator Telenor Group (Nasdaq: TELN), the two shareholders in question, have been battling over control of VimpelCom for years. (See Telenor, Altimo Make Peace.)

  • Nokia has issued a dismissive response to Standard & Poor’s ' decision to lower its credit rating from "BB+" to "BB-", with a "negative" outlook. In a statement, the handsets giant said: "The impact of Standard & Poor's decision on the company is limited. As we continue our transition, we are applying a strong focus on cash conservation while simultaneously reducing our operating costs and making our operating model stronger and more agile." (See Euronews: Fitch Junks Nokia, Nokia's Moody's Blues and Euronews: S&P Downgrades Nokia Debt.)

  • Half-yearly group revenues at Telekom Austria AG (NYSE: TKA; Vienna: TKA) fell 4.9 percent year-on-year to €2.1 billion (US$2.5 billion), prompting the operator to revise its revenues outlook for 2012, from €4.4 billion ($5.4 billion) to €4.2 billion ($5.1 billion). (See Telekom Austria Posts €81M Profit in H1.)

  • Also on the Austrian front, Hutchison 3G Austria GmbH is less than thrilled with the rate of progress on its attempted takeover of Orange Austria Telecommunication GmbH. , reports Reuters. Canning Fok, managing director of Hong Kong-based Hutchison Whampoa Ltd. (Hong Kong: 0013; Pink Sheets: HUWHY), is complaining that the European Commission is placing "unacceptable" contraints on the deal.

  • Research by U.K. regulator Ofcom has concluded that the average residential broadband speed in Britain has now reached 9 Mbit/s, more than double that recorded in November 2008 when Ofcom began carrying out its speed tests. (See Great Britain? I Don't Think So.)

  • Ericsson AB (Nasdaq: ERIC) has clinched a smart-metering deal with Elektrilevi, an Estonian electricity distribution network operator. Under the terms of the agreement, Ericsson will supply services on the Baltic state's 2G/3G mobile network and deploy 630,000 smart meters. (See Ericsson Does Smart Meters in Estonia.)

    — Paul Rainford, Assistant Editor, Europe, Light Reading

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