Austria’s Supervisory Board Conducts Hearing for Complaints
According to a latest report, a hearing of complains will be held by the Austria's supervisory board. This hearing will be held to discuss about the 2 billion euro ($2.8 billion) auction for the generation frequencies. This was earlier being criticized for being very costly.
In the Europe's most price-competitive telecoms market, the 4G auction has been increased to four times of what was set by the regulator.
The head of the regulator, Georg Serentschy, said on Friday that the watchdog would hear the operators' complaints at their request but will not be able to change the auction results announced this week.
According to sources, the concerned authorities will decide the date of the hearing next week. The date may fall on the 4th or on the 11th of November.
The Austria's supervisory board will file formal complaints with a specific court. This will be done in order to pursue the grievances of the people.
Hutchison Whampoa's H3G, the country's smallest carrier, won an 18% of the available frequencies for 330 million Euros. It did not buy any of the 800 megahertz (MHz) spectrum.
And for 654 million Euros, Deutsche Telekom's T-Mobile Austria bought rest 32% of the spectrum.
European markets closed strong on Friday as technology and financial services stocks helped market sentiment. European stocks traded lower earlier during the week due to political crisis in Spain due to Catalonia referendum.
Domino's Pizza has acquired Hallo Pizza, the largest independent pizza chain in Germany. With acquisition of Hallo Pizza, Domino’s has become the largest pizza chain in Germany with more than 370 stores across the country.
The People’s Party (ÖVP) has won the parliamentary elections and 31-year-old leader Sebastian Kurz would be the youngest national leader in Europe. Kurz will be having a tough task of dealing with European leadership.
IBM is using blockchain for improving speed and security for cross-border transactions. The solution offered by IBM is focused on banking sector.
Tesla Motors has fired hundreds of employees after annual performance review. The company confirmed the move but the management hasn’t mentioned the exact number of employees fired during the current performance review.
Tesla Motors has announced recall of 11,000 Model X vehicles to fix a seat cable issue. The voluntary recall involves Model X SUVs manufactured between October 28, 2016 and August 16, 2017.