Saturday, November 1, 2008

British Telecom is sinking into a bag and drag the entire industry in Europe

The day is being very negative for the telecommunications sector in Europe because of the British operator BT Group. The company has announced that it will not reach its forecast of earnings in its second quarter due to a poor performance from its Global Services unit, which is causing a collapse of its shares from 24%. Company: TELEFONICA (Telefonica SA) The news on other websites Websites in Spanish in other languages The contagion effect is penalizing the rest of the sector, the worst of EuroStoxx600, with a cut of 3.42%. The German operator Deutsche Telecom yields 1.8% while KPN and France Telecom lost more than 3% and shares of Telecom Italia by around 2%. The Spanish Telefonica makes a reduction of 1.55% to 3.41% weekly gain. This week, it was known that the company is about to complete an old aspiration to join their fixed and mobile activities into a single company in all Latin American countries where it operates. 90% of the shareholders of the telecommunications company CTC Chile fixed gave their permission for the Spanish launch a takeover bid that would enable it to take 100%. Within two weeks, the operator will present its results for the first nine of the year.

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