Feeds

mmO2 preps market for 3G writedowns

Big Red

  • alert
  • submit to reddit

SANS - Survey on application security programs

mm02's financial PR bunnies are softening up the press in advance of Wednesday's results in which the UK-owned network operator is expected to declare a massive loss.

Stories in the Sunday Times, FT and The Guardian all say that mmm02 will write down, the majority of its £9bn investment in 3G licences (to be precise, former parent BT footed the bill). At the same time, the company will take a massive hit on its lossmaking Dutch operation, valued in the books at £1.4bn, but sold last month for €25m. The twin write down will see mm02's asset value reduced by between £6bn and £9bn, according to which newspaper you read. Currently, mmO2's asset value is £18bn.

mmO2's 3G writedown is to be welcomed. It will be interesting to see if Vodafone, T-Mobile and Orange get realistic too.

Vodafone maybe could take the pain, but T-Mobile parent Deutsche Telekom and Orange parent France Telecom have battered enough balance sheets as it is without this additional headache. ®

Related story

mmO2 sells Dutch ops for peanuts

3 Big data security analytics techniques

More from The Register

next story
A black box for your SUITCASE: Now your lost luggage can phone home – quite literally
Breakfast in London, lunch in NYC, and your clothes in Peru
Broadband Secretary of SHEEP sensationally quits Cabinet
Maria Miller finally resigns over expenses row
AT&T threatens to pull out of FCC wireless auctions over purchase limits
Company wants ability to buy more spectrum space in auction
EE dismisses DATA-BURNING glitch with Orange Mail app
Bug quietly slurps PAYG credit - yet EE denies it exists
Like Google, Comcast might roll its own mobile voice network
Says anything's possible if regulators approve merger with Time Warner
Turnbull leaves Australia's broadband blackspots in the dark
New Statement of Expectations to NBN Co offers get-out clauses for blackspot builds
Facebook claims 100 MEEELLION active users in India
Who needs China when you've got the next billion in your sights?
Facebook splats in-app chat, whacks brats into crack yakety-yak app
Jibber-jabbering addicts turfed out just as Zuck warned
prev story

Whitepapers

Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
SANS - Survey on application security programs
In this whitepaper learn about the state of application security programs and practices of 488 surveyed respondents, and discover how mature and effective these programs are.