European Technology, Media and Telecoms Correspondent
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Nov 5, 2013

Exclusive: ECB extends first data haul deadline to give banks extra time

LONDON/VIENNA (Reuters) – The European Central Bank has eased the first deadline for lenders to submit data to be used in its review of eurozone banks after some banks said they did not have enough time to meet the demands.

The ECB said affected banks had been given until November 29 to submit data for a risk assessment that is underway. It was originally due to be submitted to the ECB by mid November, three European banking sources told Reuters.

Oct 30, 2013

Vienna museum director quits in Nazi looted art row

VIENNA (Reuters) – The director of Vienna’s Leopold Museum, home to extensive collections of work by Austrian artists such as Egon Schiele and Gustav Klimt, has quit in a row over Nazi-looted art.

Tobias Natter said he could no longer stay at the museum after some of its most senior staff joined a controversial new foundation associated with Klimt’s illegitimate son, film director Gustav Ucicky, whose works included Nazi propaganda.

Oct 30, 2013

Erste Bank asset quality improves ahead of key test

VIENNA (Reuters) – Austria’s Erste Group Bank (ERST.VI: Quote, Profile, Research, Stock Buzz) surprised the market with a noticeable improvement in bad loans ahead of a key health check by the European Central Bank, lifting its shares on Wednesday.

Its non-performing loans (NPL) ratio fell to 9.6 percent in the third quarter from 9.7 percent a quarter earlier, helped by the first decline in Romania since the start of the financial crisis.

Oct 30, 2013

Erste Bank confirms outlook, sees CEE improvement

VIENNA, Oct 30 (Reuters) – Erste Group Bank
confirmed its full-year outlook for lower profit and risk
provisions on Wednesday, saying it still expected central and
eastern European economies to improve.

The bank, a leading lender in the region, reported a 3
percent rise in third-quarter net profit after minorities to 129
million euros ($178 million), missing the average estimate of
148 million in a Reuters poll.

Oct 23, 2013

Canadian billionaire Stronach to end foray into Austrian politics

VIENNA, Oct 23 (Reuters) – Austro-Canadian billionaire Frank
Stronach is to retire from Austrian politics after a year-long
adventure that culminated in a poor poll showing and the near
self-destruction of his party.

The maverick 81-year-old industrialist scored a
disappointing 6 percent in national elections last month, after
voter disenchantment with the centrist status quo had propelled
him as high as 10 percent in early opinion polls.

Oct 22, 2013

Telekom Austria risks credit rating for auction cost

VIENNA (Reuters) – Telekom Austria may have to risk its credit rating, which it said earlier this year was its top priority, to raise debt for a costly frequency auction, its chief executive said.

The company said late on Monday it would pay 1.03 billion euros ($1.41 billion) to buy half the spectrum on offer in an auction for Austrian fourth-generation frequencies, almost three times as much as most analysts had expected.

Oct 21, 2013

Austria raises 2.01 bln euros in 4G telecoms auction

VIENNA, Oct 21 (Reuters) – Austria raised 2.01 billion euros
($2.75 billion) in an auction for fourth-generation telecoms
frequencies which was among the costliest in Europe to date and
totalled almost four times the amount targeted.

The telecoms watchdog said on Monday Telekom Austria
paid 1.03 billion euros for 14 frequency blocks,
Deutsche Telekom’s T-Mobile 654 million for 9 blocks
and Hutchison Whampoa’s H3G 330 million for five.

Oct 21, 2013

Telekom Austria to pay 1 billion euros for spectrum: paper

VIENNA (Reuters) – Telekom Austria (TELA.VI: Quote, Profile, Research, Stock Buzz) will pay around 1 billion euros ($1.4 billion) for new telecoms spectrum in an auction that will net around 2 billion euros for the government, a newspaper reported.

Austria’s WirtschaftsBlatt, citing well-informed sources, said Deutsche Telekom’s (DTEGn.DE: Quote, Profile, Research, Stock Buzz) T-Mobile Austria would pay 700 million euros and Hutchison Whampoa’s (0013.HK: Quote, Profile, Research, Stock Buzz) H3G would hand over 300 million.

Oct 21, 2013

Telekom Austria to pay 1 bln eur for spectrum-paper

VIENNA, Oct 21 (Reuters) – Telekom Austria will
pay around 1 billion euros ($1.4 billion) for new telecoms
spectrum in an auction that will net around 2 billion euros for
the government, a newspaper reported.

Austria’s WirtschaftsBlatt, citing well-informed sources,
said Deutsche Telekom’s T-Mobile Austria would pay
700 million euros and Hutchison Whampoa’s H3G would
hand over 300 million.

Oct 9, 2013

Telekom Austria to pull out of SBB sale-source

VIENNA/FRANKFURT, Oct 9 (Reuters) – Telekom Austria
is set to pull out of the bidding for Serbian cable
operator SBB due to uncertainty over how much it will have to
pay for new frequencies on its home turf, a source close to the
matter said.

Results of an Austrian frequency auction likely to cost
Telekom Austria hundreds of millions of euros are expected only
next week, two industry sources said, but binding bids for SBB
are due on Thursday, according to a financial source.

    • 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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