Iliad mulls fundraising options

first_imgHome Iliad mulls fundraising options Chris Donkin Previous ArticleSoftBank hands Arm means to aggressively expandNext ArticleUS ratchets pressure on UK over Huawei XL Axiata cautions on slow growth Author AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 19 MAR 2019 Asia Iliad fixes on Italy wireline market movecenter_img France-based operator group Iliad began reviewing its options for 5,700 mobile sites as it seeks to raise cash to accelerate network rollout across its two markets.As part of its 2018 annual results statement, the company said it was looking into forming an “industrial partnership” with an unnamed investor to raise funds to speed-up infrastructure deployment and “maximise value creation”.It is not clear if the company is looking to sell-off the assets completely or divest a stake in the units.During 2018 Iliad entered its second market, Italy, though simultaneously the operator was losing subscribers in its home market as it changed its strategy to attract a higher ARPU base.In a statement, Iliad said its unit in France had moved to “less aggressive and more targeted promotions” during 2018 in addition to introducing new loyalty policies. During the year it lost 254,000 mobile subscribers in its home market, ending December with a base of 13.4 million.Iliad set up shop in Italy in May 2018, with a strategy based on significantly undercutting rivals’ pricing. It claimed “outstanding commercial success” having secured 2.8 million subscribers by the end of the year.Overall net profit for 2018 was €330 million, down 18.5 per cent year-on-year. Revenue in France fell 2 per cent year-on-year to €4.8 billion, due primarily to a decline in takings from its landline division. In Italy revenue was €125 million, resulting in an operating loss in the country of €52 million.Iliad’s net debt at the end of the year was €4 billion, up from €2.5 billion at end-2017, with high capital expenditure costs recorded in Italy as it continues to construct its network. Subscribe to our daily newsletter Back MTN plots fintech, infrastructure spin-offs Related Chris joined the Mobile World Live team in November 2016 having previously worked at a number of UK media outlets including Trinity Mirror, The Press Association and UK telecoms publication Mobile News. After spending 10 years in journalism, he moved… Read more Tags earningsIliadlast_img read more

Syriza seeks Greek online gambling reform

first_img Submit Share Greek leisure approval sees OPAP return to full capacity June 8, 2020 Greek retail closures rock OPAP Q1 performance June 11, 2020 OPAP delivers on Athens children’s hospital CSR projects July 6, 2020 Share StumbleUpon Related Articles The Greek Syriza government are reported to want to introduce a new licensing regime for online gambling operators, in a bid to restructure the country’s failed industry framework.Last week Greek Deputy Finance Minister Tryfon Alexiadis informed the Hellenic Parliament that Syriza would proceed with reforming Greece’s licensing regime aiming to offer new licenses to international gambling operators seeking to enter the market.Alexiadis had detailed that the current regime had been a complete failure, which had contributed a paltry €60,000 in the last three year to state coffers.Looking to completely reform its licensing regime and form satisfactory market conditions, Syriza stated that its intentions were to “forge a conclusive regulatory landscape for online gaming”.Syriza estimates that a new effective online gambling framework could generate up to €500 million in much needed tax revenues for Greece.In 2015, the restructuring of Greece’s gambling framework had been noted as one of seven planned reforms by Syriza during the National Election campaign.At the time, Former Finance Minister Yanis Varoufakis had detailed that new issued licenses would be valued at approximately €3 million.Tax rates would remain the same for online gambling operators, however those licensed would have to serve the Greek betting consumers with approved payment systems controlled by the Greek Central Bank.last_img read more