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  • O2和Three的合并值得三思_亚博网页版

    发布时间: 2021-02-05 00:03首页:主页 > 科技 > 阅读()
    本文摘要:britishconsumersmightbeforgivenforwonderingwhatproblemtheproposed 10 bnmergerofthemobileproviderso2Andthreeisdesignedtosolve . PE ldtogetherthecountry’ssecondandfourthlargestnetworkscertainlythreatentocreateanindustryleaderofii ve scale.wi

    亚博官方网站

    britishconsumersmightbeforgivenforwonderingwhatproblemtheproposed 10 bnmergerofthemobileproviderso2Andthreeisdesignedtosolve . PE ldtogetherthecountry’ssecondandfourthlargestnetworkscertainlythreatentocreateanindustryleaderofii ve scale.with 32m customers, itwouldbebritain’s largest是puttingvodafoneandbt-freshfromannouncingthepurchaseofeefromt-mobileofgermanyandfrance’so range。分割的话,新公司享受的3200万顾客将成为仅次于英国的电信公司,将离开刚宣布从博达丰(Vodafone )、德国T-Mobile和法国Orange收购EE的英国电信(BT ) thedealmayalsoallowthepairtoachievesubstantialsavings.initialestimatessuggestheycouldcutexpensesby 400 mper annum是equivalentttte 根据可行性估计,分割可使两家公司每年增加4亿英镑的费用,约等于Three运营成本的50%。butitisfarfromclearhowmuchtheseaccoladeswillactuallybenefittheirlegionsofsubscribers.whilehutchisonwhampoa是the hong kong-bass isholdingoutthepossibilityofbettercoverage, notleastofbritain’sstillembryonic 4g still therealimpetusforthetransactionappearstolienotinimprovedcustomerexperience-butincutte teringreturnnes Three的母公司香港和黄埔(Hutchison Whampoa )明确提出了分割可能会提高信号覆盖面积,特别是在英国还处于新兴阶段的4G服务,但这种交易的现实hutchisfollowingawell-worn script.ifthedealisconsummated, britainwouldbethelatesteuropeancountrytocutthenumberofmobileprovidersbelowthefourgenerallydeemednecessarytopreserveamarketinw h rather than regulation,is the mechanism for setting prices .和黄埔遵循反复检查的规则。

    如果交易达成一致,英国将成为欧洲最近的移动通信供应商数量增加到4个国家以下的国家,一般来说,在一个市场的价格要求是竞争而不是监督机构的情况下,市场上最多必须存在4个供应商。Germany,austriaandirelandhaveallrecentlyalloweddealsthatreducethenumberofnetworkstojustthree.ineachcase, regulatoryremedieswereimposedtopreservecompetitioncompromisedbyconsolidation .德国、奥地利和爱尔兰最近将通信网络运营商数量减少到只有三家公司的交易这三个国家也同时实施监督管理救济措施,保护市场竞争免受并购交易。With Germany and Ireland, thedealsaretoorecenttoobservetheirimpactonpricing.butinaustriaitispossibletoseeresults是and(forcustomersatleast ) theyarenotpretty.inspiteoftheremedies,mobilepricinghasincreasedsharply.themarketleast raisedtariffsforsmartphoneusersbynearly 但是,在奥地利,收购的结果已经出现,(至少对消费者来说)结果不太漂亮。

    尽管实施了补救措施,移动通信的定价经常大幅迅速增加。市场领袖奥地利电信(Telekom Austria )去年使智能手机用户的成本上升了近50%。norwasconsolidationnecessarytostimulatelaggingcapitalexpenditure .分割也不一定能对现在低迷的资本支出进行性刺激。In the years prior to the merger,austrianoperatorspumpedmoneyintotheirnetworksinspiteofthemarket’SF our-player structure。

    europeanoperatorsarguethatconsolidationisvitaltobringsanitytoanindustrytheysayhasbeenbroughttoitskneesbycut-throat competition sachievedineuroperelativetotheus,wheretwogiantoperatorsdominatethenationalmarket .欧洲运营商指责电信行业已经死于你。他们认为欧洲运营商的利润率比两个大运营商领导全国市场的美国低。

    Boosting returns to US levels,Europeans claim, wouldallowthemtoprovidethesortofnewservicescustomerswant在欧洲,只要能把收益提高到美国水平,就能为顾客获得专用的媒体内容,用智能手机访问网页thesnagisthateuropeanmobileoperatorsdonothaveunsustainablylowprofitability.true是, returnsoncapitalemployedhavecomedownfromtheveryhigh 20 percentleveloffiveyearsagotojustover 10 percent now.buttheyremainwella bove o tleastforthosethataresensiblycapitalised .问题是欧洲移动通信运营商几乎没有利益。确实,已经使用的资本收益率从5年前非常低的20%上升到现在的10%,但依然远远高于运营商的资本成本——,最低对那些资本结构合理的运营商来说。

    threeitselfisagoodexampleofhowcompetitioncanbothspurandrewardfreshthinking.createdexplicitlyasanadditionaloperatorin 2000 to prii ithasinthepast 11 yearsbuiltaprofitablebusiness.three本身就是一个很好的例子,证明竞争可以激励和鼓励新的想法。三是2000年作为新的职业生涯成立的。为了降低价格,我在过去的11年里开始了利润很高的业务。ithasdonesothroughinnovation.threewasamongthefirstoftheoperatorstospottheimportanceofthesmartphonemarket, andtodesignproductsandtariffstosupportitsexpansion.itis,for instance,theonlybritishoperatortoofferitscustomersanupger三是智能的例如,Three是唯一免费升级到客户4G服务的英国运营商。

    strippingtheukmarketofitsfourthplayerwillplacetheonusontheregulatortosubstituteforthiscompetitivestimulus.mostoftheremedies l shavefocusedonforgingaprivilegedpositionforso-called“virtual”operatorsthatrunserver main operators’networks.butbytheirveryne theseentitiescanneitherleadonprice,nor drive systems improvements .在“四逆三”市场中使用的许多解决办法是表现出类似于所谓的“虚拟世界”运营商的地位,这些但是,其本质上,这些虚拟世界运营商既不能领导价格,也不能推动系统的改良。nationalregulatorshavetendedtobewaryaboutconsolidation.for instance是thegermanregulatorfoughthardtothwartthemergeroftelefnice butwasoverruledbytheeuropeanauthorities, whichtooktheleadbecauseofthesupranationalnatureoftheparentcompaniesinvolved.brusselstendstotakeamoredetachedviewoflocalcomment focusingonwiderquestionsofcompetitivenessandinvestment .各国监督机构偏向于对分割采取慎重的态度。例如,德国监管机构仍试图阻止西班牙电信(Telefnica )德国子公司O2收购E-Plus,但被欧洲当局驳回,欧洲当局因母公司具有跨国性质而进入了先河。布鲁塞尔一般偏向于对当地竞争采取更超然的态度,专注于竞争力和投资方面更普遍的问题。

    亚博网页版

    itwouldbeamistakeifbritainwentthesameway-especiallyongroundsofeuropeanprecedent.themobilebusinessremainsanationalmarket.policydesignedtoprotectconsumersandensuredomesticcompetitionshouldnotbeabandonedlightly .英国以上述欧洲做法为例,以他们的老路为例移动业务依然是国内市场,为了保证消费者的维持和国内竞争的政策不应该退出。themergerofthreeando2shouldberreferredbacktotheukandgiventheseriousscrutinyitdeserves.three和o2的分割应被送回英国,接受严格审查。


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