European Technology, Media and Telecoms Correspondent
Georgina's Feed
Sep 29, 2014

Sawiris says still interested in Telecom Italia

FRANKFURT, Sept 29 (Reuters) – Egyptian tycoon Naguib
Sawiris would invest in Telecom Italia as long as the
company kept its stake in Brazilian mobile operator TIM
Participacoes, he said on Monday, as foreign bid
interest picks up in the struggling operator.

“We have not lost interest,” said Sawiris, who had a 3
billion euro ($3.8 billion) offer to buy a stake in Telecom
Italia rejected in 2012.

Sep 22, 2014

Siemens splurges $7.6 billion on Dresser-Rand in U.S. shale market bet

FRANKFURT (Reuters) – Germany’s Siemens AG has agreed to buy U.S. oilfield equipment maker Dresser-Rand Group Inc for $7.6 billion (4.6 billion pounds) in cash, paying a relatively rich price to belatedly beef up its presence in the U.S. shale oil and gas industry.

The acquisition, which ranks among the biggest in the history of the industrial group, will strengthen Siemens’ position in the United States, its weakest region, and bring it nearer catching up with rival General Electric Co.

Sep 22, 2014

Siemens splurges $7.6 bln on Dresser-Rand in US shale market bet

FRANKFURT, Sept 22 (Reuters) – Germany’s Siemens AG
has agreed to buy U.S. oilfield equipment maker
Dresser-Rand Group Inc for $7.6 billion in cash, paying
a relatively rich price to belatedly beef up its presence in the
U.S. shale oil and gas industry.

The acquisition, which ranks among the biggest in the
history of the industrial group, will strengthen Siemens’
position in the United States, its weakest region, and bring it
nearer catching up with rival General Electric Co.

Sep 22, 2014

Siemens to buy Dresser-Rand to tap U.S. shale gas boom

FRANKFURT, Sept 22 (Reuters) – Germany’s Siemens
has agreed to buy U.S. oilfield equipment maker Dresser-Rand
for $7.6 billion in cash, aiming to catch up with
arch-rival General Electric in a booming U.S. shale gas
market.

The acquisition, which ranks among the biggest in the
history of the German industrial group, will strengthen Siemens’
position in the United States, its weakest region, and focus the
group more tightly on its industrial customers.

Sep 18, 2014

Bayer reshapes with plan to list plastics unit

FRANKFURT (Reuters) – Germany’s Bayer plans to list its less profitable plastics business on the stock market in a deal that could value the division at around 10 billion euros ($13 billion) as it seeks to focus entirely on healthcare and crop science.

News of the planned spin-off of the MaterialScience unit, which has a core profit margin of 9.5 percent compared with the group’s 20.9 percent, lifted Bayer shares to a record high. It follows a wider healthcare industry trend to streamline operations.

Sep 4, 2014

Bilfinger shakes investor trust with third profit warning

FRANKFURT, Sept 4 (Reuters) – German industrial services and
construction company Bilfinger said it was
“reasonably” sure it could meet new profit forecasts after
cutting them for a third time in two months because of weak
power markets, driving its shares down 11 percent.

Bilfinger said a reorganisation designed to reduce the
company’s exposure to price wars in the construction market had
resulted in internal disarray that compounded the effect of
weakened demand for its services from struggling utilities.

Sep 3, 2014

Bilfinger warns on profit again after CEO exit

FRANKFURT (Reuters) – German industrial services and construction group Bilfinger on Wednesday issued its third profit warning since the end of June, saying it had reevaluated risks and opportunities since its chief executive quit in August.

Bilfinger, whose ex-Chief Executive Officer Roland Koch had orchestrated an ill-timed reshuffle at Bilfinger away from civil engineering and construction in favor of higher-margin industrial services, slashed its forecasts for full-year operating and net profit.

Aug 28, 2014

Poland more worried about zloty strength than weakness – c.bank head

ALPBACH, Austria, Aug 28 (Reuters) – Poland is more
concerned about the potential for the zloty to
strengthen than to weaken, central bank Governor Marek Belka
said on Thursday, adding the fall in consumer prices required a
revision of the bank’s inflation forecasts.

Belka’s comments contrasted with the last ones he made in
July, when he said that achieving sustainable growth required
real interest rates to be kept at a relatively high level when
inflation is very low.

Aug 27, 2014

Hypo Alpe Adria says will not need more capital

ALPBACH, Austria, Aug 27 (Reuters) – Nationalised Austrian
lender Hypo Alpe Adria will not need any more state
aid before being broken up later this year, with most of its
assets to be put into a “bad bank.”

The bank, which has already received around 5.5 billion
euros in state aid since 2008, will not now need another 700
million euros (924 million US dollar) in state aid as originally
agreed, a Hypo spokesman said on Wednesday.

Aug 13, 2014

Accounting issue hits Telekom Austria results

VIENNA, Aug 13 (Reuters) – Telekom Austria said an
unexpected accounting issue overshadowed improvements at its
Austrian business and pushed it to a bigger than forecast loss
in the second quarter.

The former state monopoly, which was taken over by Carlos
Slim’s America Movil last month, said new accounting
software revealed it had overestimated unbilled revenues in its
Austrian fixed-line business.

    • About Georgina

      "Currently based in London, with particular responsibility for professional publishers and the European activities of global technology, media and telecoms firms. Previously European technology correspondent based in Frankfurt. Began career in local radio in Glasgow and then worked in TV news for many years for Reuters, the BBC and Sky News in London and Moscow."
    • More from Georgina

    • Follow Georgina