The Financial Mail
The European Commissioner for Information, Viviane Reding, will pressurise mobile phone companies to reduce the cost of sending text messages abroad. Vodafone (VOD.L) are currently the most expensive network with messages sent whilst abroad costing UK users up to 49 pence each. O2 are set to be the first to react to Reding’s forthcoming speech at the World Mobile Congress in Barcelona on February 10, by cutting text prices to a maximum of 25 pence from April.
C&W LOSE SIX BOSSES
Six of the nine executives named the ‘transformation team’ in February 2006 have left telecoms group Cable & Wireless CW.L, including sales director David Shaw, UK finance head Jeremy Jensen, and chief operating officer Craig Boundy. There is speculation that UK chief executive Jim Marsh may also soon depart. The group will update within the next few weeks on plans to demerge its UK telecoms business from its international arm.
Centrica (CNA.L) is set to shelve its 1.2 billion pound green energy project on Teesside due to insufficient launch aid being provided by the Government. The project’s first step, construction of a clean coal-fired plant, will be mothballed, following similar decisions from BP (BP.L) and Shell (RDSa.L)(RDSb.L). Centrica is instead going to focus on new-generation nuclear power plants as part of a consortium, resulting in an embarrassing loss of support for the Department for Business, Enterprise & Regulatory Reform.