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Eurobites: BT's Italian Bother Claims Sciolla'sScalp
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NEWS ANALYSISPAUL RAINFORD,Assistant Editor,Europe
1/24/2017
Also in today's EMEA regional roundup: KPN invests in healthcare startup;Nokia upgrades in Cambodia; Orange expands mobile money service in Africa.
Following the revelations this morning about the full extent of accountingirregularities at BT Group plc (NYSE: BT; London: BTA)'s Italian arm, CorradoSciolla, the head of BT's Continental European operation, is to resign withimmediate effect, the BBC reports. The details of the scandal, which it is nowthought will incur a £530 million (US$661 million) write down in BT's books, sentBT's shares plunging more than 19% on the London Stock Exchange inTuesday morning trading. (See Dodgy Italian Job Savages BT Earnings, SharePrice Tanks.)
KPN Ventures, the venture capital arm of the Dutch incumbent operator KPNTelecom NV (NYSE: KPN), has invested €5.4 million in Personal Medsystems, aGerman manufacturer of heart-monitoring devices. One of its products is
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Login CardioSecure, a smartphone-based electrocardiogram device that gives instantfeedback on suspected heart failure symptoms. KPN has a good toehold in thehealthcare market: Its E-Zorg network is already used by most doctors andpharmacies in the Netherlands to communicate confidentially on patient-relatedmatters.
Nokia Corp. (NYSE: NOK) has got the call to help Cambodian operatorCellcard upgrade and expand its 3G and LTE network. Cellcard launched LTEservices in Phnom Penh in 2015 and Nokia will deploy around 1,500 additionalsites to spread mobile broadband services to other provinces.
Orange (NYSE: FTE) has entered into a partnership with Vivo Energy, theShell licensee in Africa, that will allow Orange Money customers to cash in andcash out money from their account and pay for goods in any Vivo Energy gasstation. The services -- already available in Mali, Cote d’Ivoire and Madagascar-- will be extended to the rest of the two companies' shared footprint by mid-2017.
Jacques Bonifay and Innocenzo Genna have been re-elected as MVNOEurope chair and vice-chair respectively for 2017. Jacques Bonifay is founderand CEO of the French MVNO Transatel, while Innocenza Genna is currently atPosteMobile. MVNO Europe was created in 2012 to represent the interests ofmobile virtual network operators (MVNOs) active in European mobile markets.
A cyber attack earlier this month on UK banking giant Lloyds Bank preventeda considerable number of its customers from accessing their accounts onlinefor several days. As the BBC reports, it has now been revealed that theNational Cyber Security Centre, part of the UK government's GCHQ intelligenceoperation, is working with the bank to find out more about the attack.
— Paul Rainford, Assistant Editor, Europe, Light Reading FROM THE FOUNDER
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