Monday, October 04, 2021

Week 39 in Telecoms, Internet, Media

M&A

  • Orange: To buy out Groupama (21.7%) from Orange Bank (1.6m subs in FR, ES), to raise equity EUR 230m
  • Iliad: Xavier Niel (Holdco II) reaches 90%, to start squeeze-out
  • Polsat Plus: Plans tender offer (SBB), max 82,904,517 shares at 35.00 PLN/share = PLN 2.9b (EUR 630m) - Plans EGM 211116
  • Sony:
    • Acquires Bluepoint Games
    • Sells Sony Pictures Television Channels (22 channels + 2 OTT services) in Central and Eastern Europe (12 countries: Poland, Hungary, Czechia, Romania, Bulgaria, Slovakia, Croatia, Serbia, Slovenia, Bosnia Herzegovina, North Macedonia, Montenegro.) to Antenna Group
  • Mediahuis: Plans offer for Aachener Verlagsgesellschaft (AVG; Aachener Zeitung, Aachener Nachrichten)

STRATEGY

  • Vodafone: Vodafone Digital Services & Experiences Briefing: focus on
    1. Deep & trusted customer relationships (improve NPS; multi-product connectivity strategy Digital First)
    2. Leading digital consumer services (h leads to higher ARPU, improved distribution efficiency, higher NPS and lower churn; to further develop consumer IoT, Vodafone TV, home services, device lifecycle services and loyalty applications)
    3. The leading FinTech in Africa (58m customers; Vodacom has clear financial ambitionsto grow its new services, which include financialservices, at or above 20% CAGR)
    4. The global IoT connectivity leader (130m devices connected; current rev EUR 0.9b, addressable markety EUR 10b)
  • Verizon: Defines 5 vectors of growth:
    1. 5G adoption
    2. Network monetization
    3. Investments in MEC (with AWS)
    4. “mix and match” model with partners (Disney+, Discovery+, Apple Music, other)
    5. MVNOs
  • Ericsson strategy update, launches new look & feel for brand;
    • Launches new
      • Purpose (To create connections that make the unimaginable possible)
      • Vision (A world where limitless connectivity improves lives, redefines business and pioneers a sustainable future)
    • Expects 4 future scenarios in era of hyper connectivity
      1. Enabling new ways of learning
      2. Redefining business
      3. Reimagining entertainment
      4. Tackling the climate crisis

WHOLESALE

NETWORKS

  • Vodafone and partners (Benu Networks, Casa Systems, Cisco, Nokia) first to test disaggregated broadband: open architecture Broadband Network Gateway (BNG), works across separate software & hardware from multiple vendors
  • Rumor: Open Dutch Fiber plans FTTP in Ridderkerk, to finish 2022; KPN plans FTTP in Ridderkerk, to start 2022

SERVICES

  • COMMS
    • Microsoft: Microsoft updates Skype ("Skype has been in our lives for nearly two decades, and we are here to stay")
  • VIDEO
    • NBCU: Rumor: to relaunch Peacock early 2022; to hold exclusive rights to Universal movies (after theater window); focus on Winter Olympics China; new UI; marketing phrase For All Fankind
    • CNBC: Apple TV+ had <20m subs in US/Canada at 210630 - The Information: 40m global users o/w 20m paying subs; Entertainment Strategy: 8.1m US subs
    • Netflix: Viewing stats: top 10 series & top 10 films by # accounts (viewed >2 min) and by overall time spent
    • Amazon: Expands IMDb TV (free AVOD) to UK; distr first as part of Prime Video, later as Fire TV app
    • Facebook: Distr deal for Facebook Watch with Vodafone in Europe: STB integration; first in DE, IT, CZ, PT, GR
  • GAMES
  • WEB
    • Google:
      • Cancels plans for bank accounts (Plex), syncing with Google Pay [see 191113]
      • Google Search On event: enhances Seaarch using Multitask Unified Model (MUM): ML for more detailed and context-rich questions (to combat misinformation); enhances Shopping with Lens (take a photo and add a query to find answers), more images, in-store inventory checks
    • Amazon: Hardware event    
    • Facebook: Establishes XR Programs & Research Fund, $50m in 2 yr, to develop metaverse ("a set of virtual spaces where you can create and explore with other people who aren’t in the same physical space as you")

SPECTRUM

  • NKOM (NO) ends 5G auction (190 MHz in 2.6 & 400 MHz in 3.6 GHz, valed 220101 - 411231); winners:
    • Telenor (2x40 in 2.6 for 416m + 1x120 in 3.6 for 1.01b, total after discount 1.22b)
    • Telia (2x30 in 2.6 for 289m + 1x100 in 3.6 for 781m, total 910m after discount)
    • ICE (NOK 554m for 1x80 in 3.6)
    • Altibox (= Lyse; NOK 845m; to launch FWA 22H1; 1x50 in 2.6 for 53m, 1x100 in 3.5 for 792m, total 724m after discount)

PLATFORMS

  • Google:
    • Starts appeal at ECJ (Luxembourg, 5-day hearing) against EUR 4.34b EU antitrust fine over Android [see 180718]; claims markets defined too narrowly, ignores Apple iOS
    • ACCC (Australia) publishes Digital advertising services inquiry (final report), claims Google (vertically integrated) dominates in digital ads
    • Movement for an Open Web files complaint at EC over Google Search (ad-tracking changes) [see 210622]


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