Also in today's EMEA regional roundup: Ad firm's IPO raises €400 million for Deutsche Telekom; quantum security breakthrough; Proximus rustles up €500 million on bonds market; new CMO at Nokia unit.
The Council of the European Union has officially approved regulation to end mobile roaming charges and make provision for enforcing the principles of net neutrality. The regulation is expected to be adopted by the European Parliament at its plenary session in late October, and the ban on roaming charges will come into force in mid-2017. The approval comes more than two years after the European Commission first proposed wholesale reform of the regulation of the region's telecom sector and follows months of negotiations between the various European power brokers. (See EU Agrees to Ban Roaming Charges, Enforce Net Neutrality.)
The IPO of Scout24, a digital classified advertising firm, raised €400 million (US$446.5 million) for Deutsche Telekom AG (NYSE: DT), which sold 13.2 million of its shares in the company. But, as Reuters reports, after opening at €30.75, the share price fell to below €30, with investors possibly spooked by the potential aftermath of the Volkswagen emissions scandal. Deutsche Telekom will continue to hold 14% of Scout24.
Toshiba Corp. (Tokyo: 6502), ADVA Optical Networking and BT Group plc (NYSE: BT; London: BTA) flagged a breakthrough in providing security on high-bandwidth data transmission links, claiming to have achieved a world record in encrypting 200 Gbit/s of data on a single 100km fiber. The work, which has been carried out at the UK fixed-line incumbent's Adastral Park research facility near Ipswich, could prove critical given the attractions of so-called "quantum cryptography" as a means of protecting personal data, including bank statements and health records. The previous record was just 40 Gbit/s, according to the three companies, which say they plan to implement the 200Gbit/s technology in the UK Quantum Network, a pilot scheme for quantum security in the UK.
Proximus , formerly known as Belgacom, has raised €500 million ($558.1 million) on the European bond markets. The offer was placed with more than 125 European institutional investors, reports Reuters. In July, the Belgian incumbent raised its full-year guidance after topping its own expectations for revenue and earnings growth in the second quarter.
Nokia Corp. (NYSE: NOK)'s tech licensing and patents arm, Nokia Technologies, has appointed a new CMO in the shape of Boon Lai, who arrives from Philips North America, where he served as VP of marketing.
— Paul Rainford, Assistant Editor, Europe, Light Reading