Mergers & acquisitions

Euronews: Vodafone Ups UK Capex by 50%

Vodafone Group plc, Telefónica SA, Nokia Corp. and Nokia Siemens Networks start the week in today's trawl through the EMEA headlines.

  • Vodafone is to boost its U.K. capex spend in the current financial year by 50 percent to £900 million (US$1.37 billion), reports Bloomberg, as it prepares to launch 4G services later this year. (See Euronews: Vodafone Delays UK 4G Launch.)

  • Debt-laden Telefónica is considering a sale of its Irish unit, O2 Ireland, potentially raising €700 million ($911 million), according to a Financial Times report (subscription required) citing unnamed sources. (See Euronews: Telefónica Raises $500M in Asset Sale.)

  • Nokia has lost its appeal against a $370 million tax demand served on it by the Indian authorities in March, reports Reuters. In a statement, the handsets giant said that it would "examine all options open to it," which might not take long.

  • Still in India, Reuters reports that Nokia Siemens Networks is closing one of its factories there, leading to the loss of around 50 jobs. The plant, in Calcutta, makes fixed-line equipment and was described as "unprofitable" by an NSN spokesperson.

  • The news that European Union officials are going to investigate Apple Inc.'s relationship with mobile operators, and particularly the way in which Apple seeks to control how its iPhone is sold, has been rapturously received by U.K. operators, according to a report in the Daily Telegraph. "Nobody would ever say this in public, but privately, this investigation is an absolute delight," said an excited but coy source.

    — Paul Rainford, Assistant Editor, Europe, Light Reading

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