Mobile World Live (MWL) brings you our top three picks of the week as Orange readied a plan to delist from the New York Stock Exchange (NYSE), the GSMA gets set for M360 APAC in Seoul and Deutsche Telekom and Meta Platforms fired shots over data traffic payments.
Orange to delist shares from NYSE
What happened: French operator giant Orange announced it will delist its American depositary shares from the New York Stock Exchange and deregister from the Securities and Exchange Commission (SEC) before the year-end, blaming hefty maintenance costs and administrative burdens.
Why it matters: Once the delisting is effective, the company’s US shares will no longer be traded on Wall Street, though it intends to keep its American Depositary Receipt (ADR) programme to enable investors in the market to retain their shares and to enable Over-The-Counter (OTC) trading. Orange believes this will “improve internal simplification and efficiency”.
On X, the president of workers syndicate CFE-CGC at Orange Sebastien Crozier said he has been “asking for this for ten years to protect our business”.
The company will continue to list its shares in Euronext, which Crozier described as a “largely sufficient” system.
Related Articles
AI to take centre stage at GSMA M360 APAC in Seoul
What happened: Industry experts look forward to discussing how AI can provide economic and social benefits in Asia Pacific at the annual GSMA M360 APAC event, taking place next week in the South Korean capital of Seoul.
Why it matters: The upcoming M360 APAC will put focus on the role of AI and other advanced technologies in powering “digital nations”, expected to be one of the big themes at the event. Julian Gorman, GSMA head of APAC, said “the conference is essential for understanding how these diverse markets are shaping the future of the mobile industry and driving innovation on a global scale”.
Related Articles
Meta, Deutsche Telekom trade blows after cutting ties
What happened: A row between Meta Platforms and Deutsche Telekom came to a head as the social media player ended a direct peering relationship, a move which followed a court case over payments.
Why it matters: Termination of the working relationship came after Deutsche Telekom won a lawsuit accusing Meta Platforms of not covering financial obligations for accessing its network during Covid-19 (coronavirus), noting the Facebook owner moved to employ data traffic routing to avoid payments instead of fulfilling its total outstanding fees.
“Meta is once again abusing its overwhelming bargaining power to discredit legitimate concerns of the European telecommunications industry and consumers in order to avoid fair payment,” Deutsche Telekom stated.
“The case therefore underlines the urgent need for action in Brussels: Europe-wide regulations are needed to ensure the settlement of disputes. We expressly welcome the European Commission’s proposal to introduce a binding dispute resolution mechanism,” it added.
Comments