BT share drop over 3G ruling
PrintVodafone wins but still hits 12-month low
Posted in Data Networking, 22nd December 2000 12:42 GMT
Free whitepaper – Productive high performance computing for upstream petroleum
BT's share price has dropped 6.2 per cent on the news that its high court case against Vodafone and Orange has collapsed. BT and One2One alleged the two mobile companies had an unfair advantage - equivalent to state aid - when they were given longer to pay instalments on their 3G licence.
The reason behind the extended payment timetable was Vodafone's purchase of Mannesmann, which necessitated the sell-off of Orange to France Telecom. Mr Justice Silber was having none of it and BT's share price slid.
Not that the decision helped Vodafone. Its decision to pay £2.9 billion for Irish mobile phone group Eircell saw its share price fall a 4.4 per cent and hit a year-low. Oh dear.
This whole 3G thing is more trouble than its worth if you ask us. ®
Related Stories
Free whitepaper – Guidelines for specification of data center power density
Analyst Keynote: The Register Agile Data Center Summit
New storage architectures make SSDs more cost-effective
Thermal design of the Dell PowerEdge T610, R610, and R710 servers
GPFS Sequential I/O performance
Capacity management in virtual infrastructures
IDC numbers show Dell server storage booming
Exanet exit-bound despite Dell's efforts
Sprint and Hearst launch Skiff ereader
Micron lights touchpaper on flash rocket