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Net Insight names Amazon as Sye buyer, completes transaction with SEK 200 mln profit in Q1

2020-01-06 09:26:00| Telecompaper Headlines

(Telecompaper) Net Insight has named Amazon as the buyer of its Sye consumer streaming business for approximately SEK 350 million in cash and said the transaction has been completed. It had announced that it had found a buyer in December but said at the time only that it was a Fortune 500 company.

Tags: net names amazon profit

 

NENT announces SEK 700 mln Q4 charge for job cuts and FTA write-downs as it focuses on streaming

2019-12-10 09:47:00| Telecompaper Headlines

(Telecompaper) Nordic Entertainment Group (NENT) said it has cut jobs in order to save some SEK 250 million a year, as it aims to offset currency headwinds and support the expansion of its Viaplay streaming service. It has announced a one-off charge of approximately SEK 700 million for the fourth quarter in redundancy costs and writedown of free-to-air television content and other assets. There is no change to NENT's profitable growth commitment for 2020.

Tags: on job charge cuts

 
 

Ericsson takes provision of SEK 12 bln for fallout from US corruption probes

2019-09-26 09:29:00| Telecompaper Headlines

(Telecompaper) Ericsson said corruption investigations into the company by the US Securities and Exchange Commission (SEC) and Department of Justice (DoJ) are ongoing and that the company will be taking a provision of SEK 12 billion (over USD 1.2 billion) in the third quarter to cover potential fines and costs. The company estimates potential monetary sanctions at USD 1 billion, with other related costs coming on board. There is also the question of reputational harm, which could have a "material" adverse impact on the business, the company said.

Tags: us takes provision ericsson

 

EQT Mid Market sells Swedish operator IP-Only to EQT Infrastructure for SEK 18.25 billion

2019-06-11 12:24:00| Telecompaper Headlines

(Telecompaper) The Swedish private equity fund EQT Mid Market has announced the sale of Swedish fibre infrastructure provider IP-Only to EQT Infrastructure. The enterprise value amounts to SEK 18.25 billion (EUR 1.7 billion) and an earn-out of up to SEK 1.0 billion. The deal is expected to close in June 2019 and follows a competitive auction with both industry and financial buyers.

Tags: market mid operator billion

 

Ericsson to take SEK 7.6 bln in charges to restructure loss-making BSS business

2019-01-10 09:29:00| Telecompaper Headlines

(Telecompaper) Ericsson announced plans for SEK 6.1 billion in one-time charges in Q4 to restructure its BSS business. The company said its new Revenue Manager product had proven unsuccessful and had to be written off. It plans to restructure the business in order to focus on updating its existing platform, Ericsson Digital BSS. 

Tags: business charges ericsson sek

 

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