Also in today's EMEA roundup: Vodafone focuses on Italy; investors size up Telecom Italia stake; Neul gets $5M Series B funding; Berlin gadget-fest.
Also in today's EMEA roundup: Vodafone focuses on Italy; investors size up Telecom Italia stake; Neul gets $5M Series B funding; Berlin gadget-fest opens its doors to the great unwashed.
Moody's Investors Service has upgraded Nokia Networks from B2 to B1 following the announcement of the planned sale of Nokia Corp. (NYSE: NOK)'s handsets division to Microsoft. In a statement, Moody's analyst Roberto Pozzi said: "We have upgraded NSN to B1 on our expectation that the company's financial flexibility is likely to increase following Nokia's disposal of its cash demanding D&S [Devices & Services] division as well as reflect the ongoing improvements in NSN's operating performance and cash flow generation." NSN's CFO, Samih Elhage, blogged his pleasure on hearing the news, stressing that it's "business as usual at NSN." (See Nokia Sells Devices Business to Microsoft .)
Vodafone Group plc (NYSE: VOD) is preparing to spend big on Italy as part of the operator's "Project Spring" investment program, according to a Reuters report that cites Italian newspaper Il Corriere della Sera. With Vodafone having agreed to sell its 45 percent stake in Verizon Wireless back to Verizon Communications Inc. (NYSE: VZ), CEO Vittorio Colao will soon have a large chunk of change to play with. (See Vodafone Agrees to $130B Verizon Stake Sale.)
Still in Italy, Reuters cites anonymous sources who claim that AT&T Inc. (NYSE: T) and Egyptian tycoon Naguib Sawiris are sniffing around a potential investment opportunity in Telecom Italia (TIM) . Franco Bernabe, Telecom Italia's CEO, is looking to secure a major new investment before a board meeting on September 19.
Neul Ltd. , a UK-based startup that has developed technology to create networks using so-called "white space" spectrum, has secured an initial $5 million tranche of Series B funding. Neul says it will use the cash to develop its "network-as-a-service" offering for network operators addressing the machine-to-machine (M2M)/Internet of Things (IoT) sector. (See TV White Space Startup Raises $12.8M.)
IFA, the consumer electronics bunfight in Berlin, opens its doors to all and sundry today. Much of the fuss so far centers on Samsung Corp. 's Galaxy Gear "smartwatch," which is up against Sony Corp. (NYSE: SNE)'s SmartWatch 2 and other devices from the likes of Apple Inc. (Nasdaq: AAPL) and Google (Nasdaq: GOOG) that are still under development. Samsung is also pushing its 98-inch 4K TV, which offers resolution four times that of current HD sets and will cost about the same as two very nice cars. Sony, meanwhile, is showing what it says is its best smartphone yet, the "entirely waterproof" Xperia Z1.
— Paul Rainford, Assistant Editor, Europe, Light Reading
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