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Euronews: Cash Boost for NSN, Cuts at Nokia

Paul Rainford
9/29/2011

Nokia Networks , Nokia Corp. (NYSE: NOK) and Alcatel-Lucent (NYSE: ALU) provide the cut and thrust in today's slice of EMEA telecom news.

  • Nokia Siemens Networks has appointed former TDC A/S (Copenhagen: TDC) man Jesper Ovesen its new executive chairman and received a €1 billion (US$1.36 billion) cash injection from its parents Nokia and Siemens AG (NYSE: SI; Frankfurt: SIE) as it strives to steady the ship and sort out its long-term strategy. (See NSN Gets $1.36B & New Leader and New Leadership, Cash Injection for NSN.)

  • It's another black day for the Nokia workforce as the ailing handset giant announces that a further 3,500 jobs are to go. The imminent closure of its manufacturing facility in Cluj, Romania and the knock-on effects of that closure on its supply chain operations will account for around 2,200 job cuts. Changes to the Location & Commerce unit will affect another 1,300 or so employees. (See Nokia Cuts 3,500 More Jobs, Nokia Lowers Outlook, Shares Slump , Nokia to Cut Jobs, Stay in Finland and Nokia Unveils Major Revamp.)

  • Over at the Broadband World Forum in Paris, AlcaLu Executive Vice President Philippe Keryer has been lamenting the largely laggardly nature of Europe's take-up of LTE, according to Reuters. "Europe is lagging behind ... Elsewhere, the LTE phenomenon has already begun," he said. (See Europe Set for LTE Laggard Status.)

  • South African operator Telkom SA Ltd. (NYSE/Johannesburg: TKG) suffered a slump in its share price of more than 5 percent today (Thursday) following a profits warning brought on by losses at its new mobile unit, reports Reuters Africa.

  • EE , the joint-venture offspring of Orange UK and T-Mobile (UK) , is bolstering its M2M (machine-to-machine) ambitions with the launch of a proprietary M2M management platform in partnership with Transatel . (See M2M Cranks Up a Notch, Ericsson's M2M Ambitions and Much Ado About M2M.)

  • There's harmony in the mountains as Swisscom AG (NYSE: SCM) and Vodafone Group plc (NYSE: VOD) announce the extension of their strategic partnership, which covers roaming arrangements and joint procurement, amongst other things. (See Vodafone, Swisscom Get it On.)

    — Paul Rainford, Assistant Editor, Europe, Light Reading

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