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Tele2 agrees to sell German operations to management for up to EUR 23 mln
2020-12-04 09:27:00| Telecompaper Headlines
(Telecompaper) Tele2 AB said it has agreed to sell its German business to the Tele2 Germany management for an enterprise value of up to EUR 22.8 million, as it continues its long-term strategy of consolidating its geographical footprint. The final sum depends on its financial performance by the end of 2024. After a thorough M&A process with a large number of potential buyers, Tele2 concluded that selling Tele2 Germany to the local management is the most value-accretive alternative.
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Spain outlines EUR 4.3 bln plan to bring fibre or 5G to all by 2025
2020-12-02 13:48:00| Telecompaper Headlines
(Telecompaper) The Spanish government has announced further details of the plan to bring broadband at speeds of at least 100Mbps to the entire Spanish population. The Plan for Connectivity and Digital Infrastructures and the Strategy to Promote 5G Technology, part of the government's Spain Digital 2025 Agenda, will receive EUR 4.3 billion of public funding for expanding fibre-optic infrastructure to underserved areas and extending 5G coverage. In a short statement, the government said EUR 883 million is already in the 2021 budget, which should receive parliamentary approval in the next few weeks.
Italy fines Apple EUR 10 million for 'misleading' water resistance claims
2020-11-30 09:23:00| Telecompaper Headlines
(Telecompaper) Italian antitrust watchdog AGCM has fined Apple EUR 10 million for using "misleading and aggressive" commercial practices to sell its iPhones in the country. Specifically, the regulator accused the company of claiming that several iPhone models (the iPhone 8, iPhone 8 Plus, iPhone XR, iPhone XS, iPhone XS Max, iPhone 11, iPhone 11pro and iPhone 11 pro Max) were water-resistant without clarifying they were only so under certain controlled circumstances, namely in "laboratory tests conducted with the use of static and pure water."
Masmovil adds over 500,000 clients in Q3, profits up 27% to EUR 152 mln
2020-11-23 16:01:00| Telecompaper Headlines
(Telecompaper) Spanish telecommunications provider Masmovil, the country's fourth largest network operator, reported service revenues up 20 percent year on year to EUR 1.27 billion in the first 9 months of the year after adding over 500,000 customers in the third quarter alone. Recurring 9-month EBITDA was up 27 percent year on year to EUR 428 million and also rose by 27 percent in the third quarter to EUR 152 million, with the quarterly EBITDA margin rising to 31 percent. The operator, which has recently been acquired by the Lorca Telecom consortium of buyout funds KKR, Cinven and Providence, described the results as "solid" and "in line with forecasts" in spite of the special circumstances arising from the pandemic.
Orange to recover EUR 2.2 bln in tax after favourable court ruling
2020-11-16 09:29:00| Telecompaper Headlines
(Telecompaper) Orange said that it is set to recoup a payment made to the French tax office in 2013, after the country's supreme court (Conseil d'Etat) ruled in its favour, ending a long-running tax dispute. Including interest, the company expects to receive a sum of around EUR 2.2 billion, which will not be subject to tax.
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