Eurobites: Auditors balk at Lycamobile accounts sign-off

Also in today's EMEA regional roundup: Netomnia and Brsk merge; Vodafone predicts Glasto data deluge; Elisa's 5G network livestreams Finnish orienteering-fest.

Paul Rainford, Assistant Editor, Europe

June 17, 2024

2 Min Read
Lycamobile logo on side of tube train
(Source: UrbanImage/Alamy Stock Photo)
  • Auditors have refused to sign off the accounts of mobile virtual network operator Lycamobile UK, saying that the MVNO had "not been able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion" for financial statements for the year ended December 31, 2022, according to a Financial Times report (paywall applies). The report added that Lycamobile was already locked in a dispute with the UK tax authorities, while its affiliated French companies had last year been convicted of money-laundering and tax fraud – convictions that gave rise to calls for UK Prime Minister Rishi Sunak to return £2.15 million in political donations gifted by Lycamobile to the ruling Conservative Party between 2011 and 2016.

  • UK altnets Netomnia and Brsk are to merge, creating, they say, a combined network footprint of 1.5 million premises, with the ambition of doubling that by the end of next year. Since 2020, Netomnia and Brsk have raised more than £1.3 billion of capital, with support from investors Advencap, DigitalBridge and Soho Square Capital. The newly merged entity will be led by Jeremy Chelot as CEO and Wil Wadsworth as CFO. Giorgio Iovino and Ian Kock will remain as CEO and COO, respectively, of Brsk. (See Despite critics, fiber rollout is a rare UK success story and Fiber push in UK might bode ill for BT.)

  • Vodafone is predicting a 30% year-over-year increase in data usage at this year's Glastonbury Festival, a hike that will take data consumption at the UK's monster-sized music jamboree to 215 terabytes over the course of its five days. Ten masts will be deployed by Vodafone at the Worthy Farm site in Somerset, southwest England, to help it live up to its role as Glastonbury's "official connectivity partner."

  • Finland's Elisa used its 5G network to live stream what is claimed to be the largest orienteering relay event in the world over the weekend. Up to 30,000 people attended the Jukola Relay, many of them tracking their team-mates' progress on their smartphones, benefiting from an expanded network and the use of three mobile trailer basestations in the area. Elisa has already used the 5G network for other live broadcasts in Finland, including the Nordic Junior World Ski Championships and a concert by Andrea Bocelli at Nokia Areena in Tampere.

  • HPE Aruba Networking has won a multi-year contract to supply network design, management and monitoring services to Everton soccer club at its new 52,888-capacity stadium in the northern English city of Liverpool.

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Europe

About the Author(s)

Paul Rainford

Assistant Editor, Europe, Light Reading

Paul is based on the Isle of Wight, a rocky outcrop off the English coast that is home only to a colony of technology journalists and several thousand puffins.

He has worked as a writer and copy editor since the age of William Caxton, covering the design industry, D-list celebs, tourism and much, much more.

During the noughties Paul took time out from his page proofs and marker pens to run a small hotel with his other half in the wilds of Exmoor. There he developed a range of skills including carrying cooked breakfasts, lying to unwanted guests and stopping leaks with old towels.

Now back, slightly befuddled, in the world of online journalism, Paul is thoroughly engaged with the modern world, regularly firing up his VHS video recorder and accidentally sending text messages to strangers using a chipped Nokia feature phone.

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