[Pierre]

Originally Posted by Travelstar

Telefonica O2 are missing a very important asset: spectrum.




Let's see what happens. Personally I'm not really a betting man, but at the end of the day it will come down to the regulators, and not just the boardroom. If the Reg is right, we could be seeing the exit of VF from the UK market. HQ will probably move too.

Or they may just hive off the mobile side. Vodafone has a massive fibre optic backbone network and sub-sea cable portfolio that they acquired from C&W, both of which are no use to VM.