In a significant move aimed at reducing its hefty debt, Altice has decided to offload its French media operations to the maritime giant CMA CGM for €1.55 billion. The deal, structured as a cash transaction, sees CMA CGM acquiring an 80% share, while the remaining 20% goes to Merit France, a holding company related to the shipping group. This strategic sale encompasses Altice Media, the parent company of the well-regarded news channel BFM and RMC, a radio broadcaster.
TIM, the Italian telecommunications giant, encountered a significant drop in its share value following the announcement of an expected increase in net debt by over €1 billion due to the sale of its networks division. The company’s strategic initiative, dubbed the Free to Run plan, aimed at reducing debt through the sale, ironically led to a sharp decline in share prices, which plummeted further after the disclosure of financial details on Monday.
Facing an economic upheaval, telecom leaders like Nokia, Ericsson, and AT&T post disappointing financial outcomes for 2023, attributed to factors like changing customer behavior and a challenging macro-economic environment. However, there are glimmers of hope, evidenced by Nokia’s significant free cash flow generation amidst a major slump in sales.
Telenor Norway, Telenor’s fully owned largest Norwegian supplier of telecommunications and digital services, has revealed its partnership with Infosys, a multinational information technology company that provides next-generation business consulting, information technology and outsourcing services. The main focus of this initiative is to rapidly transform Telenor’s finance and supply chain operational processes. To assist the transition from a traditional ERP system and improve company agility and operational efficiency, Infosys created a standardized Oracle Cloud enterprise resource planning solution. This product includes modules such as Record to Report (R2R), Acquire to Retire (A2R), Procure to Pay (P2P) and Order to Cash (O2C), and was deployed in ten Telenor businesses in a record time of nine months. Infosys was chosen for the ERP transition because of the company’s innovative and standardized services, reusable assets, qualified employees, and the capacity to deploy quickly. The newly implemented ERP platform will help Telenor Norway…
