Also in today's EMEA roundup: Nokia in the black; Numericable IPO shares in demand; "li-fi" breakthrough; EE fans out 4G.
The Italian prime minister, Enrico Letta, is to seek assurances today from Telefónica SA (NYSE: TEF) CEO Cesar Alierta that the Spanish giant will do all it can to avoid cutting jobs if it succeeds in its apparent aim of gaining control of Telecom Italia (TIM) , reports Bloomberg. Last month Telefónica agreed to gradually buy out its fellow investors in Telco, a holding company that owns nearly a quarter of Telecom Italia. (See Euronews: Telefónica Ups Stake in Telecom Italia.)
Nokia Corp. (NYSE: NOK)'s third-quarter financials, out today, show the group is still turning a profit, despite sales being down pretty much across the board. Group net sales were down 22 percent year-on-year to €5.62 billion (US$7.73 billion), though underlying profits were up 139 percent to €215 million ($295 million). On the soon-to-be-sloughed-off devices side, volumes were up slightly compared to the immediately preceding quarter, but the high-end Lumia models apart, sales volumes are well down year-on-year. It will be interesting to see what Microsoft Corp. (Nasdaq: MSFT) does with the lower-end handsets when it gets its mitts on Nokia early next year. For the full details, including the numbers for the Nokia Networks and HERE units, click here. (See Nokia Sells Devices Business to Microsoft .)
The omens are good for Numericable-SFR 's IPO, which opened for subscriptions yesterday. Bloomberg reports that the French cable operator received sufficient demand to cover all the available shares up for grabs in the €652.5 million euro ($900 million) sale. (See Numericable Preps IPO.)
British boffins claim to have achieved data transmission speeds of more than 10 Gbit/s using so-called "li-fi," reports the BBC. The team, made up of researchers from several UK universities, used a micro-LED light to transmit data at a rate of 3.5 Gbit/s via each of the three primary colors that make up white light.
UK mobile joint venture EE has brought 4G LTE to 14 more British towns and cities. Among them is Canvey Island, mainly famous for oil and, more importantly, Dr Feelgood. Take it away, fellers…
— Paul Rainford, Assistant Editor, Europe, Light Reading