All the latest UK technology news, reviews and analysis
|
|
|
16 Sep 2002
The German government has bailed out mobile phone operator MobilCom, after its principal shareholder France Telecom cut off funding.
According to the Daily Telegraph, MobilCom will get €400m (£250m), with €320m (£200m) coming from a regional public bank and €80m (£50m) from a federal development bank.
Further reading
But the paper reported German economy minister Werner Mueller as insisting that France Telecom "still had obligations" to the German operator.
MobilCom said last week that it needed at least $194m to continue for six months and to restructure its operations.
France Telecom currently owns 28.5 per cent of MobilCom and is reluctant to put up more cash.
The move should help protect around 5,500 jobs in Germany in the week running up to the country's general election.
Latest stories from Telecoms
Related videos
Related articles
Related jobs
Poll
Are you confident that the UK's IT infrastructure is secure from attack in the wake of the Flame malware revelations?
Orange and Intel talk us through the ins and outs of their San Diego smartphone
Connect with V3.co.uk
Social networking is almost ubiquitous. This white paper examines the benefits and risks and it looks at the different ways companies can reconcile them
The importance of understanding your infrastructure
My client, a leading international name in Manufacturing...
My client is looking for an Automated Engineer/Developer...
*** Java Architect - IT Services/Consultancy - London...
Skills: C#, WCF, ASP.Net, Real Time Systems, MVC, SQL...
Keep up to date with the latest products, services and technologies from the world's leading IT companies. IThound.com brings you over 2,000 white papers, case studies and analyst reports.
Do you agree?