Showing posts with label Euskaltel. Show all posts
Showing posts with label Euskaltel. Show all posts

Monday, March 29, 2021

Week 12 in Telecoms, Internet, Media

Corporate

  • Euskaltel: Friendly offer from MasMovil (= KKR, Providence, Cinven): 11.17 EUR/share cash (16% premium) = EUR 2b; 52.32% agrees, unconditional at 75%; to maintain brand (Euskaltel, R, Telecable, Virgin)
  • Telstra
    • Update on proposed legal corporate restructure (part of T22 strategy); to be completed Dec 2021, AGM Oct 2021, scheme booklet to be published Sep 2021; 3 units: InfraCo Fixed (passive:  ducts, fibre, data centres, exchanges), InfraCo Towers (passive mobile: towers), ServeCo (products & services; active networks, RAN, spectrum; separate subsidiary for international business (incl submarine cables); to establish new holding Telstra Group; InfraCo Towers to attract external investment from 21/22Q2
    • Rumor: may merge with NBN
  • Verizon: Verizon Media to launch Yahoo Shops (marketplace) - Yahoo services have 3m subs, to be Verizon Media's consumer-facing brand
  • RTL: Rumor: plans sale of RTL BE (candidates: Telenet, DPG, Rossel, TF1) and RTL NL (candidates: DGP) and M6 (48%, family Frère 7.2%); DPG denies
  • Vivendi: Canal+ Polski files for IPO
  • WeWork: Plans IPO via SPAC, valuation $9b

Results

  • Salt: 20Q4
  • Tele2: Annual Report 2020; Kinnevik holds 27.2% of the capital and 42.0% of the voting rights YE 2020; more-for-more strategy in SE; div received from T-Mobile NL zero (note 30), "Over time we see an opportunity to crystalize value for our shareholders as we exit this market."; Other non-current assets (mainly T-Mobile NL stake) valued at SEK 7.16b = EUR 700m); book value T-Mobile stake SEK 7.011b = EUR 690m); "As part of the annual impairment test in 2020, it was reconfirmed that the recoverable amount of our holding in the Netherlands exceeds book value."
  • United Internet: 20Q4
  • 1&1 Drillisch: 20Q4; plans national 5G roaming & construction deals 21Q2; plans multi-vendor Open RAN, Central, Edge & Far-Edge datacenters, virtualised network; outlook 2021: SR EUR 3.1b, EBITDA 650m (incl 30m negative impact from 5G roll-out, 25m negative from corona virus; excludes 34.4m positive impact from adjusted MVNO deal); adjusted EBITDA 735m for Access, -30m for 5G
  • Tele Columbus: 20Q4
  • Polsat: 20Q4 & 2020 Annual Report & Briefing
  • Gamma Communications: Annual Report 2020
  • Ericsson Annual Report 2020

Networks

  • General
    • BCG for ETNO report Connectivity and Beyond: How Telcos Can Accelerate a Digital Future For All: EUR 300b (o/w 150b for 5G, 150b for fixed) telecoms investment in EU in 4 yr will yield 2.4m new jobs + EUR 113b added to economic growth (from 5G), accelerated green transformation (digital solutions reduces carbon emissions 15%, smart cities 30%, digital transformation in transport 30%)
    • Akamai reached new peak: 200 Tb/s
  • FTTP
  • 5G
  • 6G
    • Next G Alliance launches 2 working groups: 6G Roadmap Working Group (R&D) and Green G Working Group (environmental impact) [see 201013]
  • LEO
    • OneWeb reaches 146 sats in orbit; plans service launch end 2021 in UK, Alaska, N Europe, Greenland, Iceland, Arctic Seas, Canada; global by 2022

Services

  • Video
    • ViacomCBS: To raise $3b equity for investing in originals for Paramount+; $2b in Class B common stock,$1b in Series A Mandatory Convertible Preferred Stock - Moody's positive (Baa2, outlook stable)
    • NBCUniversal (Comcast): Considers SVOD service Universal Stream for non-US markets (Peacock for US)
    • HBO (AT&T): HBO Max to expand to UK, DE, IT 2025 (until then deals with Sky)
    • Report on share of exclusive content: Disney+ 89% (Total catalog: 311 TV shows/742 movies), Netflix 83% (Total catalog: 2,069 TV shows/3,766 movies), HBO Max 72% (Total catalog: 606 TV shows/1,932 movies), Paramount+ 41% of TV, 23% of movies, Hulu 40% (Total catalog: 1,700 TV shows/916 movies), Amazon Prime Video 38% (Total catalog: 2,161 TV shows/14,670 movies)
  • B2B
    • Free (Iliad) enters B2B market with Free Pro, launches new Freebox Pro 50 EUR/mo (first year 40) + 10 EUR/line/mo for additional lines (incl 2 fixed lines, NAS server; WiFi, based on 10G EPON tech, max 7/1 Gb/s; tri-band WiFi; 4G backup; Cloud Sync Pro for protected data storage, firewall, support); offering includes 1 5G/4G line
    • Sky (Comcast) Launches Sky Connect to enter SME market; launches Connection Pro: BB 4G backup, VoiceEdge (digital voice, 24 call mgt features), WiFi, security, support
    • Google: Launches Network Connectivity Center: console for a business of any size to manage all its networks on a global basis, seamlessly connects VPNs, partner & dedicated interconnects, 3rd-party routers & Software-Defined WANs

Regulatory

  • Congress US releases statements from Facebook, Google, Twitter CEOs on Section 230 (liability) for Hearing 210325; Facebook proposes platforms should be required to demonstrate that they have systems in place for identifying unlawful content and removing it; Twitter advocates transparency, has 2 projects: Birdwatch (users report misinformation), Bluesky (open & decentralized standards for social media); Google invests in journalism - Reddit, Etsy and Dropbox defend Section 230

at 12:57 am 0 comments
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Sunday, December 27, 2020

Week 52 in Telecoms, Internet, Media

Corporate

  • Vodafone:
    • Terminates discussions with STC over a sale of 55% stake in Vodafone Eqypt [see 200129]
    • Closes merger of Vodafone GR's towers assets with Wind Hellas towers to form Vantage Towers Greece (Vodafone 62%, Crystal Almond 38%), call option until 211231 to buy out Crystal Almond for EUR 288m cash by 200630, 5% more by 211231, to be triggered by Vantage Towers IPO announcement
    • To buy out minority shareholders from KDG (17.1%), 103 EUR/share, stake to rise to 93.8%, total cost EUR 1.557b (2.119b for 100%) [see 130624]
  • Liberty Global: To be removed from Nasdaq-100 index 201221
  • Telenet: Liberty Global changes chain of control (transfers Binan shares to LG Broadband, transfers to UnitedGlobalCom, transfers to LG Holding); after transaction: Binan owns 66,342,037 shares (58.28% of votes), Telenet owns 4,598,558 shares (4.04% of shares)
  • Tele Columbus: Offer from Kublai (= Morgan Stanley Infrastructure), 3.25 EUR/share = EUR 400m; shareholders United Internet, Rocket Internet support, to close 21Q2; proposes capital increase EUR 475m for fiber roll-out (EGM 210120, Kublai to take part for EUR 75m, United Internet pro rata); to invest EUR 2b over 10 yr in fiber (2m HP by 2030), 1&1 Drillisch to be RSP on fiber network
  • Play: Iliad launches squeeze-out procedure for remaining 3.3% (8,494,848 shares)
  • BT: Openreach CEO Clive Selley positive on selling minority stake to investor
  • Cyfrowy Polsat: To acquire 114,173,459 Netia shares (34.02%) at 4.80 PLN/share, subscription period 210115 - 210226 (current holding 221,404,885 shares = 65.98%)
  • Netia: Rumor: to acquire several ISPs
  • Euskaltel: Expansion: 3 bidders for max 49% in fiber JV: Fiera Capital, First Sentier Investors, Infravia Capital Partners
  • Viasat: Acquires RigNet, $222m in shares
  • AT&T:
    • NYPost: may cancel DirecTV auction if offers don't improve
    • WarnerMedia acquires You.i TV (cross-platform development tools for TV and media, delivers video apps across mobile, tablet, game consoles, streaming devices, STBs, Smart TVs using a single codebase)
  • MGM (Anchorage Capital): WSJ: considers sale, valuation $5.5b
  • IAC: Plans to spin off Vimeo as listed company 21Q2
  • Tidal: Bloomberg: Square (Jack Dorsey) interested
  • ByteDance: Rumor: interested in CMGE Technology (mobile games), to acquire 27.6% stake (or part) from Fairview Ridge Investment, 4-5 HKD/share (30-60% premium)

Networks

FTTH

    • Full Fibre raises funds from Basalt Infrastructure Partners to expand FTTP (rural, semi-urban; OA via wholesale arm iNeedFibre) to 500k premises by 2025
    • Wildanet raises GBP 50m from Gresham House British Strategic Investment Infrastructure Fund for FTTP investment in Cornwall [see 201012]

5G

LEO

  • BNA (DE) provides temporary (1 yr) spectrum license to Starlink (SpaceX)
  • ACMA (Australia) provides mmWave spectrum (26, 28 GHz) to SpaceX Starlink, OneWeb, New Skies Satellite/SES, O3b/SES, Inmarsat, Viasat, Telstra, Optus, Vocus, Nokia, NBN, Opticomm, other
  • EC orders study (EUR 7m) to design, develop & launch European-owned space-based communication system (LEO, BBoS) from Airbus, Arianespace, Eutelsat, Hispasat, OHB, Orange, SES, Telespazio, Thales Alenia Space

Services

Content

Streaming

  • Samsung TV Plus (free OTT TV, 742 channels) expands to 12 countries (60m installed base, 15m active users): US, Canada, Australia, UK, FR, DE, CH, AT, IT, ES, S Korea, Brazil; plans expansion 2021 to Mexico, India, Sweden, more European countries

Web applications

Regulatory

TIM: AGCM starts antitrust investigation of FiberCop (TIM 58%, KKR 37.5%, Fastweb 4.5%)

Spectrum

  • AKOS (Slovenia) plans 5G spectrum auction 2021, combined starting prices EUR 69m
  • ACMA (Australia) awards 5G mmWave (26 GHz (24.7-25.1) & 28 GHz (27.5-29.5) bands) licenses to 15: MarchNet, Dreamtilt, Field Solutions Group, Opticomm, Nokia, NBN Co, Optus, Telstra, Vocus, Starlink (SpaceX), WorldVu (One Web), Inmarsat, Viasat, O3B/SES, New Skies Satellites/SES

Government funding

Other

  • ACM (NL) Telecommonitor 20Q3: Mobile: 4G data traffic 254m GB (+20% qoq), 10.3b min, 617m SMS; Fixed: 1.94b min over BB, 263m min over PSTN
  • DNA (Telenor): Publishes Technology Trends for 2021 guide: 17 trends



at 8:28 pm 0 comments
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