Financial & Performance – Page 33
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Financial & PerformanceVodafone’s Q3 deciphered: glad-handing activists; German misfire; IoT, Africa fintech blossom
Management seeks to seize back agenda amid growing City pressure for urgency on asset sales. CEO Nick Read assures Group will be “proactive” in finding returns-focused deals. German user experience misstep takes gloss off solid set of numbers. Price rises planned across Europe, in response to rising costs.
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PremiumBT Q3 FY21–22 Guidance: positives to come, but later than promised
Revenue down 2% for the year, but growth anticipated from Q1 FY22–23. All things point up, but large corporates at Enterprise and Global need turnaround to avoid continued struggles. Discovery tie-up a win–win for BT Sport (and maybe for Sky, but what about for BT itself?).
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PremiumBT Q3 FY21–22 Headlines: Openreach surging; CFUs in surgery
Corporate weakness postpones recovery, with BT Global recuperating and BT Enterprise still hurting. Openreach charges on, hitting new records for FTTP connections and (low) costs. City analysts focus on ‘mathematical’ minutiae of inflation response and impact on customers, costs, and payroll. Drahi and other predators ignored.
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Financial & PerformanceVantage tweaks schedule after ‘annoying’ builder delays
TowerCo’s build-to-suit programme hit by labour and material supply crunch. Management responds with move to simplify supply and logistics. Execs assure headline operational and financial goals remain in reach.
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PremiumBT Q3 FY21–22: king of a still-wobbly castle
Rational rivals embraced, but warned of “Armageddon scenario”, with Sky current BFF. Mixed results force management to cling to customer satisfaction and market share security blankets. Inflation a bonus for Consumer’s linked pricing. ‘Jam tomorrow’ outlook reiterated.
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PremiumBT Q3 FY21–22 Spend: costs under control
Cost-savings transformation programme continues to earn accolades among management, despite necessary investment in infrastructure. Broader market factors felt.
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Financial & PerformanceVodafone under pressure from activist investor to boost shareholder returns
Bloomberg reports Cevian Capital has built up stake in Vodafone. Unnamed sources say Swedish investment firm putting pressure on Read and management team to move more aggressively on M&A. Accuses Vodafone board of lacking experience and strategic know-how in telecoms. Vodafone share price gets bounce after news breaks of ...
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Network & InfrastructureVantage eyes €1bn EU fund for 5G roads and railways
TowerCo gets its motor running to head out on the 5G highway. Pursues EU-funded 5G Corridor projects. European Commission targets 5G coverage on all transport routes by 2025 and allocates €1bn for cross-border network projects.
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OperationsStaff start exit as Telefónica redundancies tallied
More than 2,000 applications come in for early retirement. Operator rejected 105 requests
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Financial & PerformanceVi reports further losses as government takeover looms
Net loss grows 60% year-on-year, with revenue down 10.7%. Earnings report comes amid expectation that Indian government will take majority stake in struggling JV. Absence of annual profit since launch of Reliance Jio in 2016.
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OperationsBT and TalkTalk footing the YouView bill as losses mount, Arqiva exits
Latest accounts show the TV platform’s shareholders now down to six, with the two operators keeping the venture afloat. R&D budget remains high at £16m, compared to revenue of just £9m. Telcos remain coy on paying subscribers for their TV services.
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Financial & PerformanceTelefónica issues further €5.5bn in green bonds
ESG remains in the Telefónica spotlight with more refinancing at the Group. Decarbonisation and increased executive diversity the criteria for success. Group edges closer to €10bn total volume ambition.
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OperationsVi selling majority stake to Indian government in bid to stay afloat
The state is set to receive a 35.8% stake in Vodafone Idea. Share prices drop around 20% in the wake of the news. Stake will be exchanged for easing of the struggling JV’s considerable debt. Government “do not want to run company”, insists Vi CEO
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Financial & PerformanceBT OnePhone reports pre-buyout sales jump
Double-digit growth reported by converged comms business ahead of BT’s recent deal to secure full ownership. Despite expansion, question mark continues to hover over payout for stake add-on.
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Venturing & Investmentshubraum progeny Blinkist turns a profit
Book-summarising startup gets into the black for the first time. Milestone reached decade into life of the business. Deutsche Telekom incubator hubraum exits startup on the cusp of profitability. Operator was early investor in 2012.
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PremiumNew business boosts Atento diversification drive
Former Telefónica subsidiary flags growth in new sectors and USA as it expects legacy revenues from Spanish operator to dwindle. Cyberattack in Brazil disrupted services but will not affect financial guidance.
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PeopleEx-BT chair teed up to lead UK audit regulator
Business Secretary Kwarteng puts Jan du Plessis forward for appointment to chair the FRC amid governance struggles on the audit watchdog’s “underweight” board. FRC in transition, and requires a chair able to partner with government.
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Financial & PerformanceBT’s M&A chaperone boosts takings
Boutique advisory firm Robey Warshaw reports a 50% jump in sales from corporate deal-making tasks. Partner of BT and Vodafone appears primed to benefit from industry’s new wave of consolidation.
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Financial & PerformanceTalkmobile revamp takes a knock from COVID-19
Vodafone UK’s bid to refresh side-business Talkmobile gets bogged down as economising customers and intense competition hit revenue. OpCo still sees inhouse MVNO as a useful defence mechanism against low-cost mobile rivals.
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PremiumKatz: TMUS needs cut through with enterprises
Enterprises don’t know much about T-Mobile US services. But that’s not slowing drive to double enterprise market share. Partnerships are key to business growth ambitions beyond 5G connectivity.