MasMovil was the biggest winner in Europe's telecoms sector, last week, up 22 percent. Our European Telecoms Services index closed week 40 with a small loss of 0.8 percent, beating the EuroStoxx 50 index which was down 2.8 percent. The weakest stocks included micro caps Forthnet, down 11 percent, and Go Internet, losing 8.6% after reporting its H1 results.
MasMovil (+22% for the week) partnered with Orange Spain on sharing 5G as well as fibre networks, giving it wider reach in Spain. KPN (-0.1%) withdrew the former Proximus (+0.9%) CEO Leroy as a candidate for its own CEO position. It quickly appointed its current COO Farwerck for the job.
Sunrise (-2.9%) continued its efforts to take over UPC Switzerland. The company reduced the rights issue needed to pay for the deal, but Sunrise shareholder Freenet (+1.2%) is still opposed to it. It remains unclear if enough votes will be represented at the upcoming shareholder meeting to get the proposed deal with UPC owner Liberty Global (+1.2%) approved. According to reports, at least 30 percent would be against it.
Other news:
- Telenor's offer for DNA proved successful and will lead to the delisting of DNA.
- Telia is reconsidering its investments in Latvia, now that a merger of Tet (fixed) and LMT (mobile) is not possible.
- Equinix is expanding in Mexico, buying three data centres for USD 175 million.
- Russia plans to cut its stake in Rostelecom.
- VEON raised USD 700 million, Digital Realty EUR 500 million and Turk Telekom TRY 1 billion on the bond markets.
