Interesting comments above. Martini, if your friend got a 750€ fine (which is correct) but at 140 mph I am pretty sure that his licence was taken off him on the spot. Either that or his speed wasn't as high since up to about 100mph they are fairly tolerant. Perhaps he forgot to tell you his licence is missing?
Smokie, you are going, for the time being, to be lucky. The agreement between various european contries was signed several years back but it is a matter of getting the computers to talk to each other and it seems at the moment they are now going to wait for the European licence to settle the matter for once and for all.
Bellend, your mate, if he bothers to pursue the matter, will probably get a 50% rebate on his fine. Most courts here in France limit fines for speeding to 750€. I know - I paid 1,500€ on the spot but was finally fined 750€ in court but it took two years of fighting to get the overpayment back, so slow is the french system. Even then they deducted a 60€ admin fee!
Rich, the normal procedure if his licence was taken off him is to apply for it back from the British embassy in three months. However, perhaps he just "lost" it and should apply to the DVLA for a duplicate?