The German government has put together an EUR 400 million rescue package for the ailing UMTS licensee MobilCom. Last week the future of the German mobile virtual network operator looked bleak as its main investor, France Telecom, opted to withdraw its backing. With elections looming at the end of this week the German chancellor Gerhard Schroeder is keen to prevent a major corporate failure from dominating the national headlines.
As a result, over the weekend the government orchestrated an EUR 320 million loan from the state bank Kreditanstalt fuer Wiederaufbau and a further EUR 80 million from MobilCom’s own state bank Schleswig-Holsteinische Landesbank. With its debts effectively reduced MobilCom is now expected to re-enter negotiations with France Telecom in an effort to get it to continue funding the German company’s operations.
Mirren Fischer is someone who finds herself at the confluence of some really big challenges:…
Poetry and place...listening and lockdowns... Dan Phillips, who led the Royal College of Art's (RCA)…
Mark Baldino's path to co-founding a Chicago-based design agency wends its way from a degree…
Paul Campbell, a former chief designer at Ford, is now re-imagining the wheelchair at Centaur…
Opening the oven released a cloud of steam. I should have been expecting it. It's…
Jared Ficklin's approach of 'think by making' has led him to produce remarkable digital design…