And on the subject of billionaires, Carlos Slim is set to use his new-found control of Telekom Austria AG (NYSE: TKA; Vienna: TKA) as a base for expansion in central and eastern Europe, according to this Reuters report. A shareholder agreement that effectively hands control of Telekom Austria to Slim's América Móvil S.A. de C.V. was approved by Austria's state holding company earlier this week.
And lo, it came to pass: Nokia Corp. (NYSE: NOK) has completed the sale of its Devices & Services business to Microsoft Corp. (Nasdaq: MSFT). In a statement, Nokia said that it now expected the total transaction price to be slightly higher than the previously announced €5.44 billion ($7.52 billion) after final adjustments have been made. Will it prove to be a bargain or a money-pit?
KPN Telecom NV (NYSE: KPN), which managed to fend off a takeover bid from Carlos Slim, saw overall its EBITDA (earnings before interest, tax and other stuff) fall 21% year-on-year to €621 million ($858.2 million) in its first quarter, with, as Reuters reports, its Dutch consumer mobile business taking a particularly heavy hit. Revenues were also down notably, by 8.2% year-on-year to €2 billion ($2.77 billion). The operator has just completed its 4G rollout in the Netherlands -- maybe this can help it make up for lost ground. (See Euronews: KPN Foundation Blocks Slim's Bid.)
Also on the financial down-escalator is Nordic operator Tele2 AB (Nasdaq: TLTO), which has seen first-quarter revenues slip 3% to 7.1 billion Swedish kronor ($1.0 billion), and EBITDA (earnings before interest, tax, depreciation and amortization) fall 7% to SEK1.3 billion ($197 million). Earlier this year Tele2 sold its residential cable and fiber business to Norway's Telenor Group (Nasdaq: TELN) for SEK793 million ($120 million). For more details, here's the interim report in full.
Swisscom AG (NYSE: SCM) has offered 230 million Swiss francs ($260 million) to take control of phone directories firm local.ch, which is currently owned by PubliGroupe. If the deal goes ahead, Swisscom will inherit an 800-strong workforce.
The North Wales seaside resort of Rhyl has been declared the 200th town in the UK to benefit from EE 's 4G rollout. EE now claims to have 2 million customers signed up to its 4G service, 18 months since its launch.
Pitcuresque Rhyl: Surprisingly quiet at this time of year.