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Eurobites: Orange Commits to UK Jobs

Paul Rainford

Also in today's EMEA regional roundup: Orange extends fiber network in Poland; executive change at Tele2; Eutelsat takes stock in wake of slowdown.

  • Orange (NYSE: FTE) has committed to maintaining several group offices in the UK, despite the decision last week of 52% of UK voters to quit the European Union, reports Reuters. The offices in question employ around 900 people. In common with many other French companies, shares in Orange fell markedly in the wake of the "Brexit" vote. Shares in UK incumbent BT Group plc (NYSE: BT; London: BTA), meanwhile, were down more than 5% from Friday's closing price in Monday morning trading. (See 'Brexit' Vote Hits BT, Vodafone.)

  • Further east, in Poland, Orange has extended its fiber network to 2.5 million homes, a third of all Polish households, reports Broadband TV News. The operator also says it will invest 2.2 billion Polish Zloty (US$542 million) in the network over the next two years to extend its reach to 3.5 million homes.

  • Sweden's Tele2 AB (Nasdaq: TLTO) has appointed Guillaume van Gaver as EVP International, while Lars Torstensson, who was EVP New Growth & Strategy, has decided to move on. Van Gaver has more than 20 years' experience in the telecom and retail markets, his most recent management role at Dixons Carphone .

  • Eutelsat Communications S.A. , the France-based satellite provider, has announced a strategic review in the face of "slowing industry-wide momentum." In a statement, CEO Rodolphe Belmer said he planned to build on Eutelsat's existing video business as part of a plan to "return to broad top line stability as early as FY 2017-18."

    — Paul Rainford, Assistant Editor, Europe, Light Reading

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    User Rank: Light Sabre
    6/27/2016 | 11:05:16 AM
    Although it is hard to tell what's going to happen in Europe overall due to Brexit, I think Orange realizes it will still need to maintain a presence there. 

    I'm betting a number of other companies will do the same thing. 
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