- Vodafone Group PLC VOD has collaborated with Samsung Electronics Co Ltd SSNLF to provide 5G network equipment in Britain, Reuters reports.
- The financial terms of the transaction remain undisclosed.
- The initiative marks European mobile operators’ attempt to replace Huawei Technologies Co., Ltd.
- Spain’s Telefonica SA TEF and France’s Orange SA ORAN confirmed their discussions with Samsung.
- Britain previously ordered the removal of Huawei equipment from its 5G network by 2027, akin to the U.S. embargo over national security concerns.
- Samsung is capitalizing on Europe to maintain its network equipment business growth following widespread 5G rollouts.
- Samsung snapped a $6 billion Sep deal with Verizon Communications Inc VZ. Previously the market was ruled by Nokia Oyj NOK, Telefonaktiebolaget LM Ericsson ERIC, and Huawei.
- Telecom operators are gradually adopting the Open RAN, which permits mobile operators to combine equipment from multiple suppliers leading to higher flexibility and lower costs.
- Japan’s Rakuten Group Inc RKUNF RKUNY and DISH Network Corp DISH have opted for open networks. Telefonica and Vodafone have also followed suit.
- Price action: VOD shares traded higher by 0.38% at $18.66 during the market session on the last check Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.