PSA Peugeot Citroen led a drop in high-yield corporate bond risk in Europe to the lowest in six years after Iran agreed to limit its nuclear program in exchange for an easing of international trade sanctions.
Telekom Austria AG, one of the two European network operators part-owned by Carlos Slim’s America Movil SAB, said third-quarter earnings fell as sluggish eastern European economies added to intense domestic competition.
Tele2 AB, Sweden’s second-largest telecommunications carrier, may be tempting Asia’s richest man with the chance to expand in Europe as the company’s controlling shareholder concentrates on faster-growing Internet investments.
Telekom Austria AG and local units of Hutchison Whampoa Ltd. and Deutsche Telekom AG tightened their hold on the Alpine republic’s mobile-phone market in a spectrum auction that raised 2 billion euros ($2.7 billion).
T-Hrvatski Telekom d.d, a unit of Deutsche Telekom AG, and Vipnet d.o.o., a subsidiary of Telekom Austria AG, filed offers in a mobile-frequency auction aimed at boosting services in the Adriatic state.
European stocks rallied for a ninth day, their longest winning streak since June 2010, as companies from Novartis AG to Reckitt Benckiser Group Plc raised forecasts and the U.S. unemployment rate fell to an almost five-year low.
Billionaire Carlos Slim is going back to the drawing board with his plan to buy up cheap European telecommunications assets, plotting his next move after Royal KPN NV executives fended off a $9.7 billion takeover.