European Technology, Media and Telecoms Correspondent
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Jun 25, 2014

European recovery, restructuring help lift Zumtobel’s sales

VIENNA, June 25 (Reuters) – Austrian lighting group
Zumtobel’s fourth-quarter sales rose by a higher than
expected 8 percent, it reported on Wednesday, thanks to strong
growth in Asia, recovery in Europe and a fundamental
restructuring.

Despite posting a net loss due to restructuring charges,
Zumtobel also raised its dividend to 0.18 euros ($0.24) per
share for the year ended April 30, up from 0.07 euros last time
and ahead of the 0.13 euros average forecast given by analysts
in a Reuters poll.

Jun 24, 2014

Austria signs Russian pipeline deal, hosts rare Putin visit

VIENNA (Reuters) – Austria gave its final approval to a controversial Russian gas pipeline project on Tuesday, defying EU officials and welcoming Russian President Vladimir Putin to the neutral country that has been a long-standing energy customer for Moscow.

The chief executives of Russia’s Gazprom and Austria’s OMV sealed the deal to build a branch of the South Stream gas pipeline to Austria, a staunch defender of the project in the face of opposition from the European Commission.

Jun 24, 2014

Gazprom says EU South Stream dialogue constructive

VIENNA, June 24 (Reuters) – Russia’s Gazprom is in
constructive talks with the European Commission about its
disputed South Stream gas pipeline, its chief executive said
after signing a deal on Tuesday with OMV to extend a
branch to Austria.

Alexei Miller said he was in weekly if not daily contact
with European Energy Commissioner Guenther Oettinger. “We solve
problems as they come up, and now the problem of construction of
the pipeline is to be solved,” Miller told a news conference.

May 30, 2014

Austrian Airlines cancels pay talks after staff veto offer

VIENNA, May 30 (Reuters) – Austrian Airlines called off pay
talks with cabin crew and pilots on Friday, after its works
council rejected a wage offer and reminded the airline it could
strike at any time.

The airline, a unit of Germany’s Lufthansa, said
there was no basis for further talks and withdrew its offer,
which it had hoped would break a years-long stalemate and create
the certainty needed to allow investments in its fleet.

May 28, 2014

America Movil aims to keep slimmest majority at Telekom Austria

VIENNA (Reuters) – America Movil (AMXL.MX: Quote, Profile, Research, Stock Buzz) aims to hold only a slim majority of shares in Telekom Austria (TELA.VI: Quote, Profile, Research, Stock Buzz) following a $2 billion takeover offer, its finance chief said on Wednesday.

America Movil, which owns 27 percent of Telekom Austria, has offered to buy the shares not already owned by it or the Austrian state, which has 28 percent, to take control of the Austrian operator it wants to turn into an eastern European hub. Carlos Garcia Moreno said America Movil would buy all shares tendered in its 7.15 euros-per-share offer that runs until July 10, but would sell back as many as necessary over the next two years to ensure at least 24 percent of the company remains in the market.

May 21, 2014

Netflix to launch in six more European countries this year

VIENNA/BRUSSELS, (Reuters) – Netflix will launch in both France and Germany this year, the U.S. video streaming company said on Wednesday, in the biggest test so far of its global expansion strategy.

The move will set Netflix back in its goal of breaking even in its international business, which it would have achieved later this year, as it bets the time is right to break into Europe’s two biggest markets and four other European countries.

May 21, 2014

Netflix to make leap into France and Germany

VIENNA/BRUSSELS, May 21 (Reuters) – Netflix will
launch in both France and Germany this year, the U.S. video
streaming company said on Wednesday, in the biggest test so far
of its global expansion strategy.

The move will set Netflix back in its goal of breaking even
in its international business, which it would have achieved
later this year, as it bets the time is right to break into
Europe’s two biggest markets and four other European countries.

May 16, 2014

Hutchison sees few upstart Austrian carriers in 2014

VIENNA (Reuters) – Hutchison Whampoa telecoms unit Drei Austria expects only one or two new carriers to launch services on the back of its network this year, its chief executive told Reuters.

Drei was forced to offer wholesale access to its network to up to 16 carriers as a remedy to stimulate competition and keep consumer prices low when it bought competitor Orange Austria for 1.3 billion euros (1.06 billion pounds) at the beginning of 2013.

May 15, 2014

Lenzing says cost cuts ahead of plan, shares rise

VIENNA, May 15 (Reuters) – Austrian viscose-fibres maker
Lenzing’s profits fell by less than expected in the
first quarter as it accelerated a cost-cutting plan, lifting its
shares more than 5 percent.

Lenzing said on Thursday core profit fell by 30 percent as a
rise in output was outweighed by weak prices for viscose that it
saw lasting for months ahead – although there had been a slight
increase since a year-to-date low in April.

May 12, 2014

Nowotny says would prefer “package” of ECB measures

VIENNA, May 12 (Reuters) – An interest rate cut alone will
not be enough to deal with persistently low inflation in the
euro zone, ECB policymaker Ewald Nowotny said on Monday as the
central bank gets ready to add more stimulus as soon as June.

European Central Bank President Mario Draghi said last week
the ECB is prepared to take action next month to boost the euro
zone economy if its updated staff inflation forecasts merit it.

    • 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."
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