Euronews: March 25
Cable & Wireless Worldwide plc (London: CW), Portugal Telecom SGPS SA (NYSE: PT) and Telekomunikacja Polska SA are in the mix for today's helping of Euro telecom news headlines.
London-based operator Cable & Wireless Worldwide, which suffered as a result of U.K. government spending cutbacks, has issued a second profits warning in less than a year, reports . Shares fell nearly 15 percent in the wake of the operator's trading statement, which, among other things, said that the decline in value of some of its voice contracts was now expected to be greater than previously predicted. (See The Independent Mixed EuroFortunes, British Broadband Cash Survives Cuts and C&W Worldwide Retains Gov't Deals.)
There's economic turmoil a-plenty in Portugal at the moment, so it's perhaps encouraging and surprising that Portugal Telecom has, as Reuters reports, secured a three-year credit line worth €900 million (US$1.27 billion) from a battery of banks that includes Merrill Lynch & Co. Inc. , Barclays Capital and BNP Paribas . (See PT Completes Oi Stake Purchase, Portugal Telecom Reports Q3 and Viva La Vivo Deal.)
Polish operator TP has agreed a preliminary deal to sell its radio and TV broadcast infrastructure unit, TP Emitel, to a private equity firm for 1.7 billion Polish Zloty ($599 million), reports the , citing Warsaw Business Journal Rzeczpospolita. (See Euronews: Sept. 6.)
Get in line again, Eurogeeks! The iPad 2 hits the stores in all major European countries today, so expect to see plenty of those "xxxxx from xxxx has been camped outside the Apple Store in XXXX for xxxx weeks [insert your own details]" stories doing the rounds and giving Apple Inc. (Nasdaq: AAPL) loads of free publicity. Trouble is, the Nintendo 3DS also launches in the U.K. today -- so which queue to choose? (See Apple Confirms iPad 2 International Launch Date and iPad 2: Fast & Skinny But No USB.)
— Paul Rainford, Assistant Editor, Europe, Light Reading