| To: AmericanVoter who wrote () | 4/25/2000 7:29:00 PM | | From: Joar | | | |
POWERTEL(partly Sonera owned) Deal Is Probable
-------------------------------------------------
A Powertel Deal Is Probable
By Tally Goldstein
Staff Reporter
4/20/00 2:12 PM ET
Powertel's (PTEL:Nasdaq - news - boards) days as an independent company are running out, say four telecom analysts.
They point to VoiceStream Wireless (VSTR:Nasdaq - news - boards) as the most likely acquirer. This deal would help VoiceStream fill holes in its network, while elevating Powertel to a national level, says John Bensche, a Lehman Brothers analyst. (Lehman hasn't performed underwriting for either company.)
Powertel representatives declined to comment, citing the quiet period before its April 27 earnings release. VoiceStream didn't return calls.
Powertel's stock has been hurt by market volatility, but analysts say it still trades with a takeout premium. It hit a high this year of 103 5/8, before dropping with other wireless stocks in the past two weeks. It was trading Thursday just under 65.
If wireless analyst Perry Walter of Robinson-Humphrey is right, the stock could rise even more on a takeover offer. Walter puts a price tag on Powertel of about $105 a share, or $6.6 billion. (Robinson-Humphrey hasn't performed underwriting for Powertel.)
"That's why I own Powertel," says one money manager who asked to remain anonymous. Analysts expect a deal within three months.
VoiceStream needs to fill out its nationwide mobile telecommunications network to compete with the likes of AT&T's (T:NYSE - news - boards) wireless operations, Verizon Wireless, a joint venture of Bell Atlantic (BEL:NYSE - news - boards), GTE (GTE:NYSE - news - boards) and Vodafone AirTouch (VOD:NYSE ADR - news - boards), as well as BellSouth (BLS:NYSE - news - boards) and SBC (SBC:NYSE - news - boards), which are merging their wireless operations.
In fact, the BellSouth and SBC deal makes a Powertel acquisition more likely, says Richard Prentiss, head of telecom research at Raymond James. (Raymond James hasn't performed underwriting for either company; it rates Powertel a strong buy and VoiceStream a buy.)
VoiceStream was keeping open the option of being acquired by BellSouth, which operates in VoiceStream's coverage holes, before BellSouth chose SBC, Prentiss and Bensche say.
Investors often value wireless providers on a per-pop basis, which refers to the total population within the company's operating areas. The number and value of a company's pops help determine its rank among competitors and, therefore, its worth as a possible acquisition target.
Powertel has an enterprise value of about $254 per total pops, or $388 per covered pops, which counts the number of people the company's network currently covers, according to Art Poole, wireless analyst at Raymond James. The company has licenses covering about 26 million pops and, at the end of the fourth quarter, an operating network covering 16.9 million pops.
A VoiceStream/Powertel deal would likely be accretive on a per-pop basis, meaning that VoiceStream would be buying Powertel's pops at a cheaper price than what its own pops are worth. So investors would likely favor the deal.
VoiceStream operates the only nationwide network using a technology called "global system for mobile communications." This standard GSM, which Powertel also employs, is customary elsewhere in the world. VoiceStream acquired previously independent U.S. GSM operators Omnipoint and Aerial Communications last year for $4.5 billion and $3.5 billion, respectively. BellSouth and SBC use GSM in a few territories, but mostly rely on time division multiple access (TDMA) technology.
Even if VoiceStream buys Powertel, it's still likely to end up an acquisition target in a consolidating market, analysts say.
One telecom banker suggests that BellSouth and SBC may still seek to acquire VoiceStream in an effort to expand their coverage. But the three companies would own more spectrum than they're allowed in overlapping areas. That would force them to divest properties, making a deal potentially more cumbersome than it's worth.
However, what's now known as Verizon Wireless swapped $3 billion worth of overlapping properties in February with Alltel (AT:NYSE - news - boards) to avoid exceeding spectrum caps.
Robinson-Humphrey's Walter suggests the company would be a good fit for Hong Kong investment powerhouse Hutchinson Whampoa, which already owns 23% of VoiceStream, or Finnish telecom operator Sonera, which owns 8% of VoiceStream and 9% of Powertel. (Robinson-Humphrey hasn't performed underwriting for the companies.) Officials from Hutchinson and Sonera couldn't be reached to comment, but one mergers and acquisitions telecom banker says it's unlikely that Sonera would be able to afford VoiceStream.
But that's one deal away. First comes Powertel.
Source:
thestreet.com
Joar |
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| To: AmericanVoter who wrote () | 4/26/2000 6:45:00 AM | | From: Joar | | | |
SONERA CORPORATIONïS INTERIM REPORT JANUARY - MARCH 2000
--------------------------------------------------------------------------------
SONERA CORPORATION STOCK EXCHANGE RELEASE 1(20)
APRIL 26, 2000 AT 12.00 am
SONERA CORPORATIONïS INTERIM REPORT JANUARY - MARCH 2000
During the first quarter of the year, Soneras revenues grew by 14%.
The revenues and aggregate number of customers of associated
companies with mobile communications operations continued to exhibit
strong growth; Turkcellïs result, however, is weakened by a tax on
mobile phones. The Groupïs operating profit was weakened by outlays
on new businesses. Profit before extraordinary items and taxes was
EUR 113 million (EUR 107 million in the first quarter of 1999).
Earnings per share without extraordinary items amounted to EUR 0.12
(EUR 0.11), whereas after extraordinary items they were EUR 0.06.
Continued at:
kauppalehti.fi
Source: Kauppalehti Online 2000-04-26
Joar |
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| To: AmericanVoter who wrote () | 4/29/2000 4:53:00 AM | | From: Joar | | | |
SONERA, TELEFONICA AND ORANGE ANNOUNCE JOINT PARTICIPATION IN
GERMANYS 3G AUCTION
--------------------------------------------------------------------------------
SONERA CORPORATION STOCK EXCHANGE RELEASE 1 (2)
April 28, 2000, 4.00 p.m.
SONERA, TELEFONICA AND ORANGE ANNOUNCE JOINT PARTICIPATION IN
GERMANYS 3G AUCTION
Group 3G, a consortium of Sonera (30%), Telef¢nica (40%) and
Orange (30%), has today officially announced its participation in
the auction for Germanys third generation mobile communications
licences scheduled to begin at the turn of July and August.
There are 82 million inhabitants in Germany, and the countrys
mobile communications market is the third largest in Europe, next
only to those of Italy and the United Kingdom. Germany has the
wealthiest economy in Europe, and the countrys mobile
communications penetration is 32%.
The number of the licences to be auctioned in Germany will vary
from four to six, since the actual object of the auction consists
of 5-MHz channel bundles. Each participant should make a bid for
at least two, but not for more than three bundles. The auction
will continue until there are no further bids for any of the
bundles.
The shareholders of Group 3G will finance the licence, if granted,
in proportion to their holdings. Sonera will account for its share
by selling assets and raising its share capital, if necessary.
Sonera Corporation (HEX:SRA, NASDAQ: SNRA) is an international
forerunner in mobile communications and mobile-based services and
applications. By combining its expertise in mobile communications,
the Internet and service provision, Sonera aims to develop into a
global communications operator and provider of transactions and
content services. In 1999, Soneras revenues amounted to EUR 1.85
billion, and profit before extraordinary items and taxes was EUR
0.5 billion. Sonera already has a third generation mobile
communications licence is Finland. In addition, Soneras
associated company Xfera (Sonera 15%) holds a third generation
mobile communications licence in Spain.
Telef¢nica, one of the five largest telephony providers in the
world, account for more than 20 million subscribers spread across
Europe, Latin America and North Africa. Telef¢nica also manages
Terra, one of the leading Internet companies in Europe, with more
than 630 million monthly visits to their web pages and Euro 19.4
billion stock market capitalisation. Telef¢nica group revenues
were Euro 23.0 billion, 37.3 % originated outside Spanish
frontiers. Telef¢nica has a third generation mobile communications
licence in Spain, the companys home country.
Orange is the UK's most advanced digital mobile network, with over
6 million customers. Since its launch in April 1994, Orange has
continually changed the market, with the introduction of
innovative new products and services, such as the launch of
Wildfire,the world's first voice activated digital assistant.
Orange is now considered one of Europes best known mobile phone
brands.
Orange continues to expand its international operations, winning
GSM licences in Austria, Belgium and Switzerland, and has licensed
its unique brand to network operators in Australia, India, Israel
and Hong Kong. Orange recently won the UMTS E licence in the UK,
and is also involved in UMTS through its participation in the
Xfera (Orange 7 %) consortium which recently won a license in
Spain.
The companies on Internet:
sonera.com
telefonica.com
orange.com
SONERA CORPORATION
Jari Jaakkola
Executive Vice President
Corporate Communications & IR
For further information, please contact:
Senior Vice President Pirjo Kek„l„inen-Torvinen,
International Business Developmet
Tel: +358 2040 63613
e-mail: pirjo.kekalainen-torvinen@sonera.com
DISTRIBUTION:
HEX Helsinki Exchanges
Major media
Source: Helsinki 2000-04-28, Kauppalehti Online
kauppalehti.fi
Joar |
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| To: AmericanVoter who wrote () | 5/2/2000 6:58:00 PM | | From: Joar | | | |
USA: SONERA AFFILIATE POWERTEL STILL HEAVILY IN RED.
KAUPPALEHTI
--------------------------------------------------------------------------------
2-May-2000
Powertel, an affiliate of the Finnish telecoms operator Sonera, recorded a loss of $52.9m in the first quarter of this year, compared with a loss of $63.8m in the corresponding period in 1999.
In the January-March period, the company saw its turnover rise to $100.1m from $62m last year.
Sonera invested $122.7m in Powertel last September and gained a 9.1% stake in the company.
kauppalehti.fi
Joar |
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| To: AmericanVoter who wrote () | 5/9/2000 5:44:00 PM | | From: Joar | | | |
Thomas Cook and Sonera SmartTrust to offer world's first secure mobile travel services
May 8, 2000
>> Today, Thomas Cook, the world's leading international travel and financial services group, has signed an agreement with Sonera SmartTrust, the global provider of secure wireless solution platforms, to deliver the world's most extensive secure global travel services using mobile phones and wireless devices.
The advent of the 'Mobile FX Bureau' launches a new era of flexible travel with customers able to purchase and make conversion enquiries as well as arranging for remote collection of purchased currency anywhere in the world. This is the first product in a range of global travel services that will begin to be made available to customers worldwide throughout 2000 as part of the Thomas Cook Global Traveller Assistance package.
Trialing in Finland, the 'Mobile FX Bureau' service will enable customers to utilise a wide range of travel related services safely and conveniently on their mobile phones. Mr Harri Vatanen, CEO and President, Sonera SmartTrust, believes that the provision of a guaranteed secure environment (using PKI and Digital Signatures) removes in one step, the primary barrier customers feel towards making mobile transactions.
"The combination of the SmartTrust solution and Thomas Cook Global Services enables customers to transact securely regardless of time and place - essential for both business and leisure travel. This deal is a significant advance for wireless e-commerce and we are pleased that Thomas Cook recognises that our technology, offers complete end-to-end security in the wireless world."
"This is a natural step in SmartTrust's strategy - first we enabled secure financial services and now we are moving into priority sectors such as the travel industry," continued Mr Vatanen.
"Thomas Cook is happy to be working with Sonera SmartTrust in moving our online travel business into a secure wireless environment", says Bill James, Ventures and Futures Director, Thomascook.com. "With already over four hundred million mobile phone users around the world, mobile commerce is undoubtedly the future. Security is a critical issue and therefore we'll be very happy to be Sonera SmartTrust's partner for traveller services and information."
Other global travel services from Sonera that are to be accessed using mobile phones include Flight Tracking Service. This product will enable real-time flight information - such as delays, cancellations, gate changes, terminal changes - to be sent direct to the travellers mobile phone. The service is already available in Finland.
"Thomas Cook, in co-operation with SmartTrust, will ensure the modern traveller has easy access to a whole portfolio of services that make business travel smoother and leisure travel more pleasurable. We share a common objective with Sonera SmartTrust to support people on the move. The partnership will now allow us, through mobile Internet, to provide both visual & vocal access to a broad range of traveller assistance services," said Ian Morgan, Vice President, Product Development, Thomas Cook Global & Financial Services.
Technical support and consultancy for the project was provided by Cap Gemini, the European leader in IT services and management consulting. Cap Gemini was responsible for the programming and implementation of the WAP and web user interfaces and the integration of the Sonera SmartTrust solutions.
About Thomas Cook and thomascook.com
Thomas Cook is an international Travel and Financial Services Group employing 20,000 employees worldwide. The Group has 1,800 wholly owned operations in 25 countries worldwide. Thomascook.com is the division of the business set up to offer travel related services via interactive channels and aims to be the leading interactive travel retailer here and abroad. thomascook.com
About Sonera SmartTrust and Across Wireless
Sonera SmartTrust and Across Wireless have joined forces to better address the needs of the wireless e-commerce market. We offer instant and easy access to the fastest growing market ever by providing a comprehensive set of integrated, open standard secure solutions for wireless e-commerce.
Sonera SmartTrust is the leading developer and provider of PKI-based security solutions for wireless e-commerce. Across Wireless offers a wide selection of wireless Internet-based service platforms such as OTA service and device management, a wireless Internet gateway platform as well as a SIM-based WAP browser. The combination of our strengths forms the cornerstone of Secure Wireless e-Commerce.
Sonera SmartTrust and Across Wireless are active members of ETSI, Radicchio and the WAP forum. More information on SmartTrust to be found at smarttrust.com and on Across Wireless at acrosswireless.com.
For further information, please contact:
Sonera SmartTrust
Ms Sari Laitinen
Manager, PR
Tel. +358 40 511 8108
sari.laitinen@sonera.com
Thomas Cook
Ian Morgan
Vice President, Product Development
(Thomas Cook Global & Financial Services)
Tel: 01733 502 334
Ian.Morgan@ThomasCook.com
Richard Roberts
Commercial Manager Wireless Services
(Thomascook.com)
Tel: 01733 563 200
Richard.Roberts@ThomasCook.com
Don Haddaway
Head of Global Telecommunications (Thomas Cook Global and Financial Services)
Tel: 01733 563 200
Don.Haddaway@ThomasCook.com
Sonera (HEX: SRA, NASDAQ: SNRA) is an international forerunner in mobile communications and mobile-based services and applications. By combining its expertise in mobile communications, the Internet and service provision, Sonera aims to develop into a global communications operator and provider of transaction and content services. The company also provides advanced data communications solutions to businesses, and fixed network voice services in Finland and its nearby areas. In 1999, Sonera's revenues amounted to EUR 1.85 billion and profit before extraordinary items and taxes was EUR 0.5 billion.
sonera.fi
Joar |
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| To: AmericanVoter who wrote () | 5/23/2000 7:09:00 AM | | From: Joar | | | |
Nokia and Sonera join forces to develop intelligent service assurance solution
(May 23, 2000)
Nokia Networks and Sonera are joining forces to develop intelligent network diagnosing applications on the Nokia ServiceWatch platform. These service assurance solutions will provide greater visibility for network operations, reducing the time needed to detect potential problems, significantly raising Quality of Service (QoS).
Nokia and Sonera are developing solutions to analyse network data and pinpoint relevant information for improving network operations. The co-operation between Nokia and Sonera was announced today at TeleManagment World in Nice, France.
This partnership combines Sonera's long experience in analysing mobile network data and Nokia's proven track record in developing advanced network and service management solutions.
Continued at:
press.nokia.com
Joar |
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| To: AmericanVoter who wrote () | 5/24/2000 2:08:00 PM | | From: Joar | | | |
Sonera sees Finnish GPRS network ready by year end
By Katja Heinonen, Reuters
24 May 2000
Finnish telecoms operator Sonera said on Wednesday it expected to have its general packet radio service (GPRS) mobile network up and running during the last quarter, giving cellphone users fast access to the Internet.
Sonera Corp. said the first GPRS network tests were made this month and were successful.
The GPRS network would be constructed and introduced during the last quarter of 2000, it added.
GPRS is a stepping stone to third-generation (3G) mobile networks and supports higher data transmission rates allowing always Internet connections.
Sonera Corp. - a pioneer in mobile Internet technologies - said it would also start to offer international test communications in the GPRS interconnection network to both domestic and international operators.
The interconnection of networks would allow for GPRS users travelling abroad to have home network services continuously available, it added.
Sonera said it aimed to commercialise this service by the beginning of 2001.
Last year Sonera signed agreements on GPRS network deliveries with both Nokia of Finland and Swedish rival Ericsson .
Sonera said consumers would be able to access services, like fast e-mail, Web surfing and connections to companies' intranets rapidly and easily, through their Internet-enabled WAP (Wireless Application Protocol) cellphones.
totaltele.com
Joar |
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| To: Joar who wrote (70) | 6/27/2000 3:23:00 PM | | From: caly | | | |
Just stumbled upon this...
27 June 2000
SONERA ACQUIRES iD2 TECHNOLOGIES TO SMARTTRUST BY EMITTING NEW SHARES
SONERA CORPORATION STOCK EXCHANGE RELEASE 1 (3) JUNE 27, 2000 10.50 a.m.
Sonera SmartTrust combines forces with iD2 to strengthen its position as a leading provider of integrated solutions for secure wireless e-commerce Sonera Corporation (HEX: SRA, Nasdaq: SNRA) has today signed and closed an agreement to acquire full ownership of the iD2 Group. The major shareholders of iD2 Holding AB are Schroder Ventures, Ericsson, Cisco, Reuters and SAP. Sonera will issue shares of Sonera as consideration. Sonera Corporation will transfer the ownership of iD2 Holding AB to its wholly-owned subsidiary Sonera SmartTrust Ltd. Sonera intends to float Sonera SmartTrust within next ten months.
The exchange ratio used in the transaction is 0.05546 Sonera shares for each fully diluted iD2 Holding AB share. Sonera will issue 4,802,431 new shares in consideration for 86,592,295 fully diluted shares in iD2 Holding AB. As a result of this, the Sonera share capital will amount to about ? 319.7 million (317.7) and total number of Sonera's share will increase to 743,534,486 from 738,732,055. After the increase of the share capital, the holding of the Finnish State in Sonera will fall to 52.9% from 53.3%. Sonera intends to record the transaction in accordance with the interpretation by the Finnish Accounting Board, under which no goodwill will be created.
iD2, headquartered in Sweden, offers software for secure digital identification solutions on the Internet based on PKI (Public Key Infrastructure) and smart card technology. It offers scalable PKI products suited to large-scale implementation for financial institutions, government, telecommunications operators and Trusted Third Parties. The company employs 95 people. iD2 has a broad customer base of 150+ companies (including D-Trust, Identrus member banks, MeritaNordbanken, Telia, Finnish Population Register Centre) and a range of significant solution partners (including Cisco, Compaq, Computer Associates, Bull, Microsoft, Racal Security, Siemens).
Sonera SmartTrust develops and provides enabling solutions for wireless e-commerce. Together with its partners Sonera SmartTrust offers a complete solution consisting of security components and service platforms for wireless operators and service providers. Sonera SmartTrust's key customers and partners include a number of leading wireless operators (e.g. BT Cellnet, France Telecom, Telenor, Singapore Telecom, New World Mobility), corporate customers (e.g. Mastercard, Thomas Cook, eQ Online), systems integrators (e.g. HP, Tietoenator), and certification authority solution providers (e.g. Baltimore, Entrust, Verisign).
Today's transaction is a natural continuation to Sonera SmartTrust's growth strategy and the existing co-operation between the two companies. The acquisition will allow Sonera SmartTrust to pursue new revenue opportunities by adding the iD2 product range of secure identification software including a certification management platform to its offering. With an integrated offering Sonera SmartTrust enables wireless operators and corporate customers to rapidly deploy Public Key Infrastructure to support their wireless e-commerce strategies. The iD2 product line will be further developed by Sonera SmartTrust. The management and employees of iD2 are key to the transaction and are expected to continue as Sonera SmartTrust employees. They will be incentivised through participation in an incentive scheme.
'Sonera SmartTrust is an international forerunner in secure wireless e-commerce. iD2 strengthens Sonera SmartTrust's strategic focus in secure identification solutions for wireless e-commerce through its product range, customers, partners and personnel', says Kaj-Erik Relander, Deputy CEO of Sonera Corporation.
'Sonera SmartTrust and iD2 together will be favourably positioned to accelerate the development of the wireless e-commerce market with an integrated offering for wireless operators, corporations and certification authorities. iD2's expertise in PKI enabling software products allows Sonera SmartTrust to become a leading supplier of comprehensive solutions for secure wireless e-commerce. iD2's products can also be deployed in conjunction with solutions of other suppliers, which will allow Sonera SmartTrust to continue its commitment to collaborate with leading certification platform vendors. We make secure wireless e-commerce a reality today', say Harri Vatanen, CEO and President of Sonera SmartTrust and Bjorn Gustavsson, CEO of iD2.
Earlier this year, in April, Sonera SmartTrust joined forces with Swedish Across Wireless AB. Across Wireless offers large selection of wireless Internet-based service platforms, e.g. over-the-air (OTA) service and device management, wireless Internet gateway platform as well as a SIM-based WAP browser. Sonera SmartTrust and Across Wireless together provide a comprehensive range of open standard solutions for secure wireless e-commerce for both wireless operators and service providers. iD2 adds the new PKI products to Sonera SmartTrust's portfolio and further strengthens Sonera SmartTrust's leading position in smartcard-based security solutions for wireless commerce.
'Sonera SmartTrust has, through the acquisition of iD2 and Across Wireless created a leading technology platform on which to build its m-commerce business. Cisco looks forward to extending its current relationships with iD2 and Across Wireless under the new Sonera SmartTrust structure', says Mike Volpi, Chief Strategy Officer for Cisco Systems Inc.
SONERA CORPORATION
Jari Jaakkola
Executive Vice President
Corporate Communications & IR
For further information, please contact:
Harri Vatanen, President and CEO,
Sonera SmartTrust Ltd
Tel. + 358 2040 3300
e-mail: harri.vatanen@sonera.com
Bjorn Gustavsson, CEO,
iD2 Tel. +46 8 775 5200
e-mail: bjorn.gustavsson@id2tech.com
Companies on the Internet:
sonera.com
smarttrust.com
id2tech.com
DISTRIBUTION: HEX Helsinki Exchanges Major media |
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| To: AmericanVoter who started this subject | 7/4/2000 3:52:36 PM | | From: Joar | | | | Ericsson Supplies DWDM ERION to Sonera
---------------------------------------------
<< Ericsson Supplies DWDM ERION to Sonera; Gigantic Optical Highway From Central Europe Via Denmark, Sweden and Finland and On to Moscow
STOCKHOLM, Jun 30, 2000 (BUSINESS WIRE) -- Ericsson today announced they have
signed a contract to supply the major part of an optical trunk DWDM networking
solution to Sonera, Finland. Their ERION solution will be used to enhance the
optical highway between Central Europe - Copenhagen - Stockholm - Helsinki and
on to Moscow. Total length of the network will be over 7.500 kilometers.
The already existing optical cables have reached their limits in capacity and
will now be boosted by deploying the latest optical technology by Ericsson. The
ERION Linear DWDM system, designed to carry 10Gbps in each separate wavelength,
will be used along the route.
"With the Ericsson optical networking, ERION solution, Sonera does an upgrade
into new high speed optical technology, enabling a tremendous increase in
network traffic capacity, in a transport sector growing tremendously," says Mr.
Tuomo Kokkila, Director of International Sales of Sonera Carrier Networks. "The
IP traffic and 3rd generation mobile services are the main generators of the
requirements and with this solution we will now be able to offer our customers
not only a more reliable service, but also a better management overview, at the
same time as we can meet the expansion in traffic volumes."
With this new optical highway, several different traffic types are multiplexed
into combined high traffic volumes and carried over the network with its own
individual optical wavelengths. The network is designed to carry 320Gbps on each
pair of fibers. Sonera was the first operator to select Ericsson as its vendor
already four years ago, when the first products were released to the market. The
ERION product portfolio reduces the operators' investment, improves overall
network efficiency and cuts operating costs, for any traffic application.
"Ericsson's optical research team has since these days developed the technology
much further, and Ericsson has now captured a strong foot-hold in the DWDM
marketplace not only within trunk networks, but also in the metro region," says
Dr. Per O. Andersson, Director Products and Solutions, Optical Networks within
the Ericsson-group. "Today's market demands have created a strong pull for
carrier-class optical products where we, as world leading supplier, can solve
and deploy these demands quickly and reliably."
Ericsson is the leading communications supplier, combining innovation in
mobility and Internet in creating the new era of Mobile Internet. Ericsson
provides total solutions covering everything from systems and applications to
mobile phones and other communications tools. With more than 100,000 employees
in 140 countries, Ericsson simplifies communications for customers all over the
world.
Read more at ericsson.com
FOR FURTHER INFORMATION, PLEASE CONTACT
Isabella Laihorinne-Smedh, Press Manager, Corporate Communications Phone: +46 70
551 0369 E-mail: isabella.laihorinne-smedh@lme.ericsson.se
Jouni Vaananen, Account Manager, Ericsson Finland Phone: +358 400 812 576;
E-mail: jouni.vaananen@lmf.ericsson.se
Dr. Per O. Andersson, Director Products and Solutions Optical Networks, Ericsson
Phone: +46 70 652 5677, E-mail: per.o.andersson@etx.ericsson.se
About DWDM and ERION
The ERION products by Ericsson based on the DWDM technology - the key optical
networking technology, that operators are deploying today, to maximize the
capacity of fiber networks. The ERION optical networking solution also offers
the prospect of a flexible, scalable, managed optical network, with the built-in
traffic protection, reducing costs. The ERION Linear offers an economical
architecture optimized to meet the needs of the emerging datacentric optical
networking applications, with an open architecture.
DWDM technology provides many times the capacity of traditional Synchronous
Optical Network systems (SDH/SONET) by making it possible to transmit multiple
"colors," or wavelengths of light, over a single fiber. ERION, Ericsson's
intelligent optical networking portfolio, provides a flexible, scalable and
secure solution to the problems of increasing demand for bandwidth in long haul
metropolitan core, and access transport network architectures.
Beside the trunk ERION Linear solution, the portfolio also includes a Wide Area
Metro, (WAM) ring solution - the ERION FlexRing which supports both hub and
meshed network topologies and is optimized for ring circumferences of up to
500km. ERION Metro its subsystem is designed for metro access networks with
circumferences of up to 100km.
Over 500 ERION systems are installed throughout the world for applications
including IP, CATV, Gigabit Ethernet and SDH/SONET. The ERION family of products
also allows access to Ericsson's Packet Backbone Network (PBN) - an
architectural model for next generation backbone network and portfolio of
carrier-class IP and ATM data products. With PBN, service providers are able to
configure highly scalable end-to-end multi-service networks with telecom-grade
resilience and serviceability.
Please visit bit.se for further information The following files are
available for download:
bit.se
bit.se
CONTACT: Ericsson
Isabella Laihorinne-Smedh, +46 70 551 0369
E-mail: isabella.laihorinne-smedh@lme.ericsson.se
or
Ericsson Finland
Jouni Vaananen, +358 400 812 576
E-mail: jouni.vaananen@lmf.ericsson.se
or
Optical Networks, Ericsson
Dr. Per O. Andersson, +46 70 652 5677
E-mail: per.o.andersson@etx.ericsson.se
URL: businesswire.com >>
--------------------------------
Joar |
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| To: AmericanVoter who started this subject | 7/4/2000 3:57:48 PM | | From: Joar | | | | Bidding War for European Wireless Licenses Will Have Huge Impact on Debt Underwriters.....
-----------------------------------------
<<Bidding War for European Wireless Licenses Will Have Huge Impact on Debt Underwriters: Massive need for capital, a la Deutsche Telekom, will crown new debt kingpins
O Leary, Christopher
The Investment Dealers' Digest : IDD (New York) Jul 3, 2000
---------------------------------------------------------------------------
A multi-national bidding war that will determine by year's end which companies will own the European mobile telecommunications market, could reinvigorate the debt- capital markets with billions of dollars in new deals, and may separate the serious Street players in European debt markets from the half-hearted.
Germany's auction of Universal Mobile Telecommunications Standard (UMTS) licenses, set to start July 31, will ignite a half-year's worth of auctions throughout Western Europe. The auctions will force any would-be telecom powerhouse in Europe to spend tens of billions of dollars for the right to offer mobile-phone and Internet service in countries ranging from Portugal to Poland.
And all contenders in both European high-grade and high-yield corporate bonds, including Deutsche Bank, Goldman Sachs, Morgan Stanley Dean Witter and UBS Warburg, are angling for position, trying to win the lucrative deal mandates from issuers that are willing to sink billions into debt to secure these licenses.
UMTS licenses are an equivalent to bandwidth channels for television or radio broadcast. In order to offer cellular phone and other wireless services to a particular nation, players need to acquire at least one and perhaps more licenses, each of which has a substantial price tag. The situation is forcing upstart telecom players to form coalitions, as well as tap the bond markets in unprecedented volumes.
Last week's enormous Deutsche Telekom AG deal, which at $14.5 billion was the largest corporate bond ever issued, demonstrates the type of capital needed for an issuer to get a foothold in the European wireless market. Market players said Deutsche Telekom needs every dime of capital raised in that deal, as it may have to spend more than $23 billion in the next six months if it wins all the auctions in which it plans to bid.
The spectacle of that deal, and the boost in league-table ranking and underwriter fees it gave lead managers Deutsche Bank, Morgan Stanley and Goldman, has all would-be Street players in European debt gambling on which issuers look to be the winners in the wave of upcoming auctions.
"The numbers for these auctions are staggering-they're in the billions," said one head of high-yield. "This process is going to inspire an incredible amount of supply, as the one obvious place these issuers will turn for funding is the debt markets."
Because many of the bidders, which include Deutsche Telekom, Vodafone Plc, WorldCom Inc., British Telecommunications Plc, and Jazztel Plc, are going to require large and hopefully tightly-priced packages of funding, it should be a test by fire of how well- prepared the European desks of Wall Street shops are, he added.
"You're going to have to make $4 billion or $5 billion commitments" to these issuers, the pro said. "There are maybe five or six firms than can do that now." And shops with European legacies, such as Deutsche and UBS, may have the upper hand when it comes to winning contracts with issuers that speak the same language.
A busy calendar
The German UMTS auction has already winnowed European wireless companies. Out of the 12 telecom players that originally planned to bid for the licenses, only eight remained as of last week.
U.S.-based WorldCom bailed out of the auction recently, furthering the market's belief that European players will snatch up most of the licenses available. The domestic players have an advantage, analysts said, because they already have an established customer base and can recoup costs easier than a U.S. firm that must start from scratch.
The German licenses, which will range from four to six available for bid, will cost winning bidders at least (10 billion ($9.4 billion) each. Players still in the race include a consortium of Spain's Telefonica ADR and Finland's Sonera Corp., the U.K.'s Vodafone and the Dutch KPN Telecom-owned E-Plus Inc. But the two companies expected to be the big winners are Germany's top mobile phone operators, Deutsche Telekom and Mannesmann Mobilfunk SA.
And once that auction round has been cleared, telecom players must immediately gear up for another round set for the fall. By November, Austria and Sweden plan to auction up to six UMTS licenses, and Switzerland plans to auction four licenses at $8 billion a pop.
Other countries set to go later this year include Slovenia, the Czech Republic, Belgium, Poland, France and Portugal. In each case, the price tag for a license looks to be in the $8 billion to $10 billion range.
An expensive precedent has been set by the first UMTS auction, which took place in early May in the U.K. The auction yielded GBP22.5 billion ($34.02 billion) for the British government and awarded five licenses to TeleSystem International Wireless Inc., Vodafone, British Telecom, Orange Plc and the Deutsche Telekom-owned One 2 One Plc.>>
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