Monday, March 22, 2021

Week 11 in Telecoms, Internet, Media

Corporate

  • KPN
  • VodafoneZiggo
    • 20Q4 final, Annual Report 2020
    • Moody's affirms Ba3 corporate family rating (CFR) & Ba3-PD probability of default rating (PDR)
  • Vodafone: Vodafone Business Investor Briefing ("Connecting people, places & things for a better future")  
  • Telefonica: Considers selling minority stake in submarine cable unit (part of Telxius), to be integrated in Telefonica Infra
  • Iliad: 20Q4; Iliad IT to add fixed-line services summer 2021
  • Elisa: Annual Report 2020
  • Rakuten: Rakuten sells equity (13% stake) for $2.2b to Japan Post (8.32%), Image Frame Investment (= Tencent) 3.65%, Walmart 0.92%, Mikitani
  • Spotify: Launches Loud & Clear website: guide to royalty payment system; >13k artists made >$50k in 2020, 870 made >$1m
  • Google: Cuts Google Play app store fees for developers to 15% from 210731 for first $1m earned per yr (above remains 30%)
  • Amazon: Expands Amazon Care telehealth service nationally for its employees and other companies summer 2021 [see 201216]
  • Snap: Acquires Fit Analytics (fitting tech for fashion e-commerce)
  • Microsoft: Acquires Marsden Group (industrial innovation)

Networks

  • FTTH
  • Nokia
    • Nokia partners with Google for cloud-based 5G radio solutions, combining RAN, Open RAN & Cloud RAN with Google's edge - Also with AWS (Amazon) for cloud-based 5G radio solutions, combined with AWS Outposts - And with Microsoft on cloud solutions for enterprises (Private 4G & 5G), combining Cloud RAN with Azure
    • Nokia to reset cost base by EUR 600m by end 2023 from 5-10k job cuts to 80-85k in 18-24 mo; to be redirected to R&D, innovation (5G, cloud, digital infra), salaries; restructuring costs EUR 600-700m (o/w 50% in 2021, 15% in 2022, 35% in 2023) by 2023; maintains outlook 2021 (incl EUR 500m cash out for previous restructuring); units to streamline portfolios [see 210311] 
    • Nokia to halve 5G base station power consumption by 2023
    • Nokia CMD: target oper margin 7-10% in 2021, 10-13% in 2023 (Mobile Networks 5-8%, Network Infra 9-12%, Cloud & Network 8-11%, Nokia Tech >75%)
    • Nokia launches midrange 5G smartphones A52, A72

Services

Regulatory

  • Spectrum
    • Ofcom (UK) raises GBP 1.36b from multiband auction (700 MHz & 3.6-3.8 GHz) Phase 1 (Phase 2 for assignments to follow); EE 2x10 MHz in 700 MHz band for GBP 280m, 20 MHz of supplementary downlink spectrum in 700 MHz band for GBP 4m, 40 MHz in 3.6-3.8 GHz band for GBP 168m; 3 UK 2x10 MHz in 700 MHz band for GBP 280m, Vodafone 40 MHz in 3.6-3.8 GHz band for GBP 176m; Telefonica O2 UK 2x10 MHz in 700 MHz band for GBP 280m and 40 MHz in 3.6-3.8 GHz band for GBP 168m
    • FCC plans 3.4 GHz band (100 MHz in 10 MHz blocks for Partial Economic Areas, total 4060 licenses) auction (110) Oct 2021, reserve price $14.7b
  • Ofcom (UK) publishes Wholesale Fixed Telecoms Market Review (WFTMR) for 5 yr (April 2021 - March 2026) framework to promote fibre: entry level copper/fiber wholesale prices not reduced, top-end fiber unregulated, regulated fiber prices may be raised, no cost-based fiber regulation for at least 10 yr  - Virgin Media UK positive - BT confirms rol-out plan (20m FTTP premises by 2025-30, GBP 12b), Openreach may not give geographic discounts - TalkTalk negative: price increases on BB, FTTP may become too expensive for many - DCMS launches Project Gigabit, GBP 5b for >1m rural premises: targets 85% FTTP coverage by 2025
  • Platforms: BEREC supports EC's DMA [see 201215], publishes Opinion and Draft Report, adds proposals, consultation until 210504
  • EC adopts first Horizon Europe 2021-24 strategic plan (EUR 95.5b), to launch call for proposals spring 2021


at 9:45 am
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