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Nokia sales up 20% to EUR 3.2 bln, network profit plummets
2015-04-30 08:45:00| Telecompaper Headlines
(Telecompaper) Nokia reported first-quarter sales from continuing operations up 20 percent from a year earlier to EUR 3.2 billion, with earnings per share improving by 25 percent to EUR 0.05 a share. First-quarter profit increased 65 percent to EUR 181 million from EUR 110 million in the previous year. Nokia attributed the results to strong performance at Nokia Technologies and its mapping business Here, with year on year sales at the two units up 103 percent and 25 percent respectively to EUR 266 million and EUR 261 million. However, good growth at its main telecom networks division was offset by plummeting profitability, helping to explain why the company agreed to buy rival Alcatel-Lucent earlier this month in a proposed EUR 15.6 billion deal. First quarter sales at Nokia Solutions and Networks were up 15 percent to EUR 2.67 billion, driven by a 47 percent increase in North America and a 31 percent rise in China. However, core operating profit at the unit fell 61 percent from a year ago to EUR 85 million, or 3.2 percent of sales, compared to 9.3 percent a year earlier. Nokia said profits dropped due to lower software sales, higher research and development costs and challenging conditions in Europe and Latin America, not to mention what it described as "strategic entry deals". The company said it expected some of the negative factors to ease in the second half of 2015 and forecast full-year operating margin at the unit to be around the midpoint of its long-term target of 8 percent to 11 percent.
Tags: sales
network
eur
profit
Google pledges EUR 150 mln to European news publishers
2015-04-28 10:41:00| Telecompaper Headlines
(Telecompaper) Google has committed to giving EUR 150 million to European news publishers over the next three years as part of a wider project designed to help news providers earn money from their own online coverage. The company's Digital News Initiative has been backed by eight European publications the Financial Times, the Guardian, El Pais, NRC Media, Les Echos, La Stampa, Faz and Die Ziet with other partners invited to join. Google said the initiative would explore ways to "increase revenue, traffic and audience engagement." In addition to the EUR 150 million innovation fund, the company will also contribute digital resources to newsrooms as well as "dedicated staff" to provide digital skills training to journalists in London, Hamburg and Paris.
Tags: news
google
eur
european
Telenet buys Base for EUR 1.325 billion
2015-04-20 08:33:00| Telecompaper Headlines
(Telecompaper) Belgian cable operator Telenet has agreed to acquire the mobile operator Base from KPN for EUR 1.325 billion. The sale price is equal to 8.9 times Base's EBITDA last year. Telenet is already a successful MVNO in Belgium and with Base acquires its own mobile network infrastructure and the number-three spot on the Belgian mobile market. Base has around 3.3 million customers, good for 21 percent of the market at the end of 2014. Telenet said it will raise around EUR 1 billion in debt to help finance the takeover as well as invest EUR 240 million in Base in the coming years. The company expects to realise around EUR 150 million in annual synergies from the takeover, thanks to savings on operational costs and investments and migrating its mobile customers to the Base network. For KPN, the sale marks the end of its international activities and the company will now focus exclusively on its home market the Netherlands.
Nokia agrees EUR 15.6 bln bid for Alcatel-Lucent
2015-04-15 08:23:00| Telecompaper Headlines
(Telecompaper) Nokia and Alcatel-Lucent reached an agreement on the terms of their proposed merger. Nokia will offer 0.55 of its shares for each Alcatel-Lucent share, valuing the company at EUR 15.6 billion or EUR 4.27 per share. This is a premium of 28 percent to the average share price over the three months before the merger talks were announced. Alcatel-Lucent shareholders would own 33.5 percent of the new company, which will continue under the name Nokia. Nokia's current chairman and CEO, Risto Siilasmaa and Rajeev Suri, will continue to lead the company, and the new Nokia will remain headquartered in Finland with a "strong presence" in France. Alcatel-Lucent will have three members on the board of 9-10 members, including the role of vice chairman. Pending approval by Nokia's shareholders and regulators, the takeover is expected to close in the first half of 2016. By 2019, the companies expect to achieve EUR 900 million in operating cost savings from the merger. They also forecast EUR 200 million in savings in interest costs by 2017.
Vivendi offers EUR 250 mln for Dailymotion - report
2015-04-07 08:33:00| Telecompaper Headlines
(Telecompaper) The board of Orange is meeting on 7 April to consider a EUR 250 million offer from Vivendi to buy 100 percent of video portal Dailymotion, writes Les Echos, citing "several sources". Orange invested EUR 160 million in Dailymotion after a deal to sell it to Yahoo! fell through over government opposition to selling a French digital 'success story' to foreign owners. The 25 percent-State owned operator would make its money back, and more, if it accepted Vivendi's offer. Vivendi, Orange and Dailymotion refused to confirm the information. Les Echos also writes that Hong Kong conglomerate Hutchison Whampoa has pulled out of talks to buy a minority stake in Dailymotion after interior minister Emmanuel Macron said the company should remain in European hands.
Tags: report
offers
eur
dailymotion
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