Telco Chatter Jul 23: BT/AT&T results, O2D jobcuts, OTE preview, Equans M&A

Research evidence excerpt

Telco Chatter Jul 23: BT/AT&T results, O2D jobcuts, OTE preview, Equans M&A

e year and close 60 stores in line with speculation from earlier this month. It reached an

agreement with unions on a voluntary redundancy programme covering most of the job cuts

and taking social factors into account. The reduction represents 16.2% of its workforce of

more than 6,800. The 60 stores represent 8% of the store network of O2D. Telefónica

Germany said the market must adapt to "changing" conditions and new consumer and

societal demands "which go beyond connectivity". It also pointed to technological advances

"such as AI and the growing internal complexity of the business.". It said the optimisation

programme will run until 2028, including pooling resources and adapting capabilities in

customer service and sales, without detailing further decisions. O2D recorded a €265m

provision for approved measures to be included in Q2 2026, and a €155m provision for

measures still in planning that it expects to recognise in H2. It estimates the restructuring

will generate €185m in annual savings from 2028. (Source: Europa Press)

Bouygues – Equans buys majority stake in Australia’s CV Services

Equans acquired a majority stake in Australia-based CV Services. Equans said the deal

supports its external growth strategy through bolt-on acquisitions and strengthens its

position in Australia. CV Services provides multidisciplinary technical services across

infrastructure, construction, services, media, and signage. The company is based in

Queensland and has operated for more than 20 years, serving public and private sector

clients across the asset lifecycle. CV Services employs 880 people and reported 2026

revenue of AUD$260m (€159m). The transaction value was not disclosed. (Source:

Bloomberg)