Sunday, July 26, 2020

Week 30 in Telecoms, Internet, Media

CORPORATE
Main: tower IPOs planned (Telxius, Vantage), eBay sells classifieds.

Proximus
Sewan launches MVNO on Proximus, to launch end 2020 as light MVNO for B2B (unified comms)    
Telefonica
Rumor: considers Telxius IPO for 2021; KKR holds 40%, Amancio Ortega 10%
Colombia to sell its 32.5% stake in Coltel (Telefonica Colombia)

Telekom Austria
Sells stake in FL1 (Telecom Liechtenstein)     

Vodafone
Plans IPO of Vantage Towers (88k sites in 9 countries Europe: DE, ES, GR, PT, CZRO, HU, IE; merger with Wind Hellas, Inwit stake (33.2%, IT) & Cornerstone (JV with Telefonica in ES) to be included) in Frankfurt early 2021; 2020 pro forma     

Eir
May lose >EUR 125m in cumulative rev if Comreg lowers wholesale rates for leasing to NBN

QSC
Acquires Incloud (IT, cloud & web solutions) 200731     

Cellnex
Edizione to reduce stake by 3.4 pp     

RTL
SpotX invests in SpringServe (ad serving platform for OTT & CTV)     

Alphabet/Google
Google Search delays mobile-first indexing to March 2021

Amazon
SMB Impact Report 2020: >2m independent sellers, authors, content creators, delivery providers, developers, IT solution providers in US; average income $160k (2019: $100k)
Amazon IT to add 1600 jobs in 2020 (to 8500 in 25 offices)
Plans 10 new fulfillment centers in India; to offer auto insurance in India
Plans fulfillment center in Mt Juliet (Tenn), to open late 2021: 855 ft^2, 1k FTE
Rivian plans e-van deliveries from early 2021 (10k by 2022, all 100k by 2030) (R1T pick-up truck, R1S SUV from June 2021); Rivian sued by Tesla over stealing trade secrets via former employees (total 178 o/w 70 directly)

Microsoft
LinkedIn Cuts 960 jobs (6%) due to corona virus slowdown in hiring

EBay
Sells eBay Classifieds Group (Mobile.de, Gumtree, Marktplaats, dba, Bilbasen, Kijiji, 2dehands, 2ememain, Vivanuncios, Automobile.it, Motors.co.uk, Autotrader (Australia), Carsguide (Australia), eBay Kleinanzeigen) to Adevinta, $9.2b (based on closing prices 200717) in cash ($2.5b) & stock (540m shares = 44%, 33.3% of votes); annual synergies: $150-185m after 3 yr; to close 21Q1; Schibsted (majority) to vote in favor, Blommenholm Industrier (6.3%) to vote in favor; Schibsted to acquire eBay Classifieds' Danish entity (DBA.dk, Bilbasen.dk) after closing


EARNINGS
Main: Vodafone.
  • Vodafone 20/21Q1 trading update
  • Gamma Communications 20Q2 trading statement
  • TalkTalk 20/21Q1
  • Euskaltel 20Q2     
  • Crnogorksi Telekom 20Q2     
  • Hrvatski Telekom 20Q2
  • NENT Group 20Q2; Viaplay to expand to >15 new countries in ~5 yr     
  • Twitter 20Q2; plans complementary (to ads business) subscription service 20H2
  • Snap 20Q2
  • Microsoft 19/20Q4


5G
Main: Globe Telecom and Telekom Slovenije launch 5G.


VIDEO
Main: Google Fiber terminates TV Nashville, Sky closes OTT-TV Spain, Locast expands.


OTHER SERVICES
Main: IoT launches by Telekom and Inmarsat, Cyfrowy Polsat resells solar.


REGULATORY
Main: auction NL ends.

Termination
Broadband
Spectrum
  • Multiband auction NL (700 available directly 703-733 paired with 758-788, 1400 available directly, 1452-1492; 2100 available from early 2021 as ectension from existing licenses, 1920-1980 paired with 2110-2170; all valid 20 yr until 401231); total 26 blocks) NL ends (started 200629, reserve price total EUR 914.668m), raises EUR 1.231717947b, licenses to be delivered within 10 days; coverage obligations: 98% of each muni, average 100 Mb/s; KPN EUR 415.8m ("satisfied", "reasonable price relative to reserve price"; total 75 MHz; 2x10 in 700 band for 158m for 5G; 3x5 in 1400 band for 95m for 4G & 5G; 4x10 in 2100 band for 163m for 4G & 5G), VZ EUR 415.763924m ("zeer tevreden"; reaches 80% pops coverage with 5G in 1800 band, peak speed 650 Mb/s; 2x10 in 700 band158m; 3x5 in 1400 band 95m; 2x20 in 2100 band 163m), T-Mobile NL EUR 400m ("zeer tevreden"; plans swift 5G launch, as soon as licenses received; "starting prices were too high"; 2x10 in 700 band for 5G 158m; 2x5 in 1400 band 77m; 2x10 in 2100 band 163); 3.5 GHz band auction early 2022; AT requires EMV limit of 28 V/m; all bids to be published by 200728 - 26 GHz auction uncertain (3250 MHz, currently for microwave backhaul)
  • Multiband auction LU ended 200718 (38 rounds), raises EUR 41.3m, duration 15 yr, coverage requirement nationwide by 2025: Post LU 110 MHz (2x10 in 700), Orange LU 110 MHz (2x10 in 700), Proximus (Tango, Telindus) 100 MHz (2x10 in 700), Luxembourg Online 10 MHz (in 3.6 band), Eltrona no licenses
  • FCC (US) starts PAL (3550-3650 MHz) auction (CBRS, auction 105)
Platforms

at 8:23 pm
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