Euronews: Nokia's Fearful Finns

One story dominates today's Euronews. Can you guess what it is yet?

  • And lo, what many had predicted has come to pass, with Microsoft Corp. (Nasdaq: MSFT) set to buy Nokia Corp. (NYSE: NOK)'s devices and services business for €5.44 billion (US$7.2 billion) in cash. So what does the future hold for the workers in Finland? Across Nokia's many locations there, the mood is understandably fearful, reports Finnish news website YLE. In Salo, where more than 1,000 Nokia product development staff are located, the local mayor declares himself "stunned," while in Tampere, a shop steward posits the view that Microsoft's phone technology is more advanced than people realize and that it is simply buying a competitor. No industrial action is planned yet, he added, though they were seeking more information. However things turn out, it seems this is going to be a long winter for Nokia's 4,700 Finnish employees. (See Nokia Sells Devices Business to Microsoft .)

  • Having gained more than 10 percent in value since talk of its Verizon Wireless stake sale emerged late mast week, shares in Vodafone Group plc (NYSE: VOD) dipped more than 3 percent to 206 pence in morning trading Tuesday on the London stock exchange. Vodafone confirmed Monday that it is to sell its stake in Verizon Wireless to Verizon Communications for $130 billion. (See Vodafone Agrees to $130B Verizon Stake Sale and Vodafone: Eat or Be Eaten?.)

  • Deutsche Telekom AG (NYSE: DT) has been outlining its infrastructure plans for Germany, with a target of having 24 million households connected to its fiber network by the end of 2016 and the re-casting of Hamburg as a so-called "WiFi city" included in its vision. The group plans to invest more than €23 billion (US$30.3 billion) in Germany between 2010 and 2015.

  • Test and measurement systems specialist Spirent Communications plc has announced the departure of CEO Bill Burns, with immediate effect. Eric Hutchinson, the current CFO, will become temporary CEO while a search for a permanent replacement gets underway. Spirent suffered a slowdown in orders during the first quarter, which in turn suppressed second-quarter revenues. (See As 4G Boosts Anite, Spirent Suffers.)

  • BICS, the wholesale services provider that is part of Belgacom SA (Euronext: BELG), claims to be adopting the "crowdsourcing" model with its new fraud detection offering, called FraudGuard, which is equipped with analytics software from cVidya Networks Inc. The idea is that a community of telcos using the BICS network is created, sharing insights on any suspicious activities reported by BICS or any of its members. (See BICS Counters Fraud With cVidya.)

    — Paul Rainford, Assistant Editor, Europe, Light Reading

  • -0 9/4/2013 | 11:55:12 AM
    Re: Whither Mr Elop? > they need some with mobile chops

    I have to disagree with you again. Mobile *revolution* has ended. MS either can catch up by throwing into mobile sector massive resources or not. Bying Nokia is about the last step where CEO attention was indespensable.

    MS problems neither start nor stop with mobile. They are more of a symptom than cause.

    CEO has to restructure MS and look for new horizons. CEO who concentrates on mobile is exactly what MS does NOT need now.

    DanJones 9/4/2013 | 9:28:12 AM
    Re: Whither Mr Elop? So who's your pick for Microsoft CEO given that they need some with mobile chops?
    -0 9/4/2013 | 6:57:19 AM
    Re: Whither Mr Elop? You got to be kidding. He was invited by Nokia board in hopes he could save the company. He failed.

    He outlined salvation strategy and put timeline - it didn't work.

    Killing Symbian instead of gradual transitioning left company with no revenue it could easily collect with minimal efforts. And so on.

    Forget 'Nokia' and concentrate on 'CEO skills'. As CEO he has proven himself a disaster. I can't imagine ANY investor to be positive about company's prospects if he becomes a CEO ever again.

    He was very useful to chums in MS - we need Nokia hw business so bad that we are ready to give you VP role. But IMO it's a honorary retirement, not step toward higher position.

    He is a spent toilet paper and will be pushed out soon enough (unless mobile business picks up VERY well and I don't think it will).
    DanJones 9/3/2013 | 7:30:21 AM
    Re: Whither Mr Elop? Surely looks like a prospect doesn't it.
    PaulERainford 9/3/2013 | 7:14:16 AM
    Whither Mr Elop? So does this mean that the bookies had it right when they made Stephen Elop odds-on favourite to replace Steve Ballmer?
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