2013 10-02 investment-strategy_mw_en

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J’son and Partners Consulting presents the main results of the research: analysis of the investment deals, typical for the key world players of telecommunication sector in 2010 – 2012

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2013 10-02 investment-strategy_mw_en

  1. 1. J’son and Partners Consulting presents the main results of the research: analysis of the investment deals, typical for the key world players of telecommunication sector in 2010 – 2012 In the research process the following works have been accomplished: 1. Analysis of 62 largest mobile operators by geographical regions: Europe, Asia, North America, Latin America, Africa and Middle East, Australia and Pacific Basin; 2. Study of the deals including the corporate reorganization of companies (mergers, acquisitions, division, and transformation), share purchase, shares of legal entities. As a result, a selection of 125 deals for 2010 – 2012 was considered, taking into account various parameters (geography, participants, industries, value of deals). Despite a decline in activity in the post-crisis years, the statistical analysis of concluded deals shows an increase in the activity of operators on the M&A market. Fig. 1. Number of deals by years, 2010- 2013, deals 2010 2011 2012 2013 (F) Source: J’son & Partners Consulting On emerging markets such as the Asia-Pacific region and a stable leader - North America, dynamics of increase in the number of deals is clearly seen in the analysis of strategies by geographic region. Copyright © 2013, J’son & Partners Consulting. Media can use any text, diagrams and data contained in this market review only with giving credit to the source of information – J’son & Partners Consulting. ™ J’son & Partners [registered trade mark]. 1
  2. 2. Fig. 2. Dynamic of deals structure for 2010 – 2012, % of the number of deals per year Source: J’son & Partners Consulting The increase in the median value of deals from 70 mln.USD to 246,9 mln.USD confirms the restoration of M&A market of telecommunication sector. The highest rate of concluded deals is in the sector of providing traditional telecommunication services. Fig. 3. Structure of concluded deals by investment industries, 2010 – 2012 Source: J’son & Partners Consulting In a number of considered regions there is a different distribution of investments. Thus, the strategy of Asian operators of developed countries (Japan, South Korea) is aiming to the development of value added services. As a result more than 60% of the deals were signed with developers of applications, cloud and content services etc. Copyright © 2013, J’son & Partners Consulting. Media can use any text, diagrams and data contained in this market review only with giving credit to the source of information – J’son & Partners Consulting. ™ J’son & Partners [registered trade mark]. 2
  3. 3. Fig. 4. Structure of the concluded deals by business-directions, Asian region, 2010 – 2013 Source: J’son & Partners Consulting The same market situation is on the markets of North America, especially on the telecommunication market of USA, where the largest amount of deals concluded in the sector of development and apps integration. On the market of South America around 70% of deals and more than 80% on the territory of Middle East and Africa had been concluded in the sector of providing traditional telecommunication services. Fig. 5. Structure of deals by industries, Africa and Middle East, Latin America, 2010 – 2013 Source: J’son & Partners Consulting Basically, this is due to the fact that in these regions is the lowest penetration rate of telecommunication services and there is a potential for further development. But the political situation (the Middle East and Africa) some legislative aspects (South America) are the restraining factors for investing. Copyright © 2013, J’son & Partners Consulting. Media can use any text, diagrams and data contained in this market review only with giving credit to the source of information – J’son & Partners Consulting. ™ J’son & Partners [registered trade mark]. 3
  4. 4. There are not that many participants in the Australian region. The consolidation process of assets is mostly filled by two companies: SingTel and M2 Telecommunications (around 60% of the concluded deals) Main conclusions of the research A review of mergers and acquisitions performed by 62 largest telecommunication operators on the developed and emerging markets showed that mostly all investment strategies of the companies divided into the following categories:  Entering new markets;  Expanding business-directions (structure of deals from the point of view of the businessdirections is a lot similar for the considered markets – the largest amount of deals are concluding in the sphere of providing traditional telecommunication services);  Purchase of certain assets in order to enter the market with a certain technology faster, often to launch LTE network and 4G. Copyright © 2013, J’son & Partners Consulting. Media can use any text, diagrams and data contained in this market review only with giving credit to the source of information – J’son & Partners Consulting. ™ J’son & Partners [registered trade mark]. 4
  5. 5. Detailed results of the research are presented in the full version of the report: “I nvestm ent strategies of the largest w orld m obile connection operators for 2010 – 2012” (80p) 1. Resume 2. Introduction 2.1 Methodology 2.2 Definition of the key parameters of selection 2.3 Geography 2.4 Participants (market players) 2.5 Value of deals 2.6 Industries 3. Statistical analysis of deals 3.1 By number of concluded deals 3.2 By value of deals 3.3 By industries 3.4 By geographical features 3.1.1. Australia and Pacific Basin 3.1.2. Asia 3.1.3. Asia and Middle East 3.1.4. South America 3.1.5. Europe 3.1.6. North America 4. Profiles of the players and their investment strategies 5. Conclusions List of companies mentioned in the report Copyright © 2013, J’son & Partners Consulting. Media can use any text, diagrams and data contained in this market review only with giving credit to the source of information – J’son & Partners Consulting. ™ J’son & Partners [registered trade mark]. 5
  6. 6. List of illustrations Fig. 1. Number of deals by years, 2010-2013, deals Fig. 2. Number of deals by years, 2010-2013, deals Fig. 3. Structure of concluded deals by investing industries, 2010 – 2012 Fig. 4. General structure of the deals for 2010 – 2012, % of the total number of considering deals Fig. 5. Dynamic of the structure of deals in 2010 – 2012, % of the total number of deals in the year Fig. 6. Structure of the concluded deals by business-directions, 2010 – 2013 Fig. 7. Structure of the concluded deals by business- directions on the developed markets (Japan, South Korea), 2010 – 2013 Fig. 8. Structure of deals by industries, Africa and Middle East, 2010 – 2013 List of tables Table 1. Table 2. Table 3. Table 4. Table 5. services Table 6. Table 7. Table 8. Largest players in Europe, Asia and North America Largest players in Latin America, Middle East and Africa, Australia and Pacific Basin Companies participated in M&A deals in 2010 – 2012 Deals concluded on the territory of Australia, 2010 – 2013 Number of deals concluded in the sphere of providing the traditional telecommunication Dynamic of the number of deals, Asia, 2010 – 2013 Number of concluded deals by years in the view of separate business-directions, 2010 – 2013 Number of concluded deals by years in the view of separate business-directions, 2010 – 2013 List of companies mentioned in the report Acom Comunicações AdJitsu Airtel Networks Ltd ALSY Ame’rica Mo’vil / Claro / Telcel Amobee Inc AnComm Inc AT&T Mobility Atlantic Telecom Axiata Group Berhad Axismed Bahrain Telecom Belgacom SA Bharti Airtel Bidder Buongiorno SpA BV! Media Inc Cable & Wireless Worldwide PLC Cablemas SA de CV Carso Global Telecom SAB de CV China Mobile China Telecom Corporation China Telecommunications Corporation China Unicom Hong Kong Ltd Clearwire Corp Colombia Telecomunicaciones Complete Telecom Grupo Iusacell GTW Holdings Pte Ltd Hong Kong's Hutchison Whampoa Hughes Telematics, Inc. Hutchison Telecommunications International Ltd Hynix Semiconductors Information Infrastructure Management Nordic AB InToTally Invitation Digital Ltd Kabel Baden-Wuerttemberg KDDI Kinlogix Medical Inc Koninklijke KPN NV Liberty Global Liquid Barcodes AS M2 Telecommunications Group Ltd MAGASeek Corp MCV Guam Holding Corp Metro14 Montreal MetroPCS Inc MGM Networks Inc mmbi Inc Mobile Gamer Pte Ltd/The MTN Group Natrindo Telepon Seluler PT Nextwave Wireless Inc Nihon Ultmarc Inc Sentilla Corp Silver Server GmbH SingTel Singtel Optus Pty Ltd SK Hynix Inc SK Telecom Sky Sky City Foundation Sofora Telecomunicaciones SA Softbank Corporation Sprint Nextel Corp Superclick Inc Svenska Stadsnat AB Tele Norte Celular Participacoes SA Tele2 Telecom Telefónica Telefonos de Mexico SAB de CV Telekom Austria AG Telenet Telenor Televisa TeliaSonera TelstraClear Ltd. Telus Mobility TEO LT AB T-Mobile USA Copyright © 2013, J’son & Partners Consulting. Media can use any text, diagrams and data contained in this market review only with giving credit to the source of information – J’son & Partners Consulting. ™ J’son & Partners [registered trade mark]. 6
  7. 7. Cooliris Inc Data & Audio Visual Enterprises Wireless Inc Databurg GmbH Digicable Network India Pvt Ltd Digital Milestone Sdn Bhd Dimension Data Holdings PLC DLA Inc Dodo Australia Pty Ltd Eatability Pty Ltd Eftel Ltd Egyptian Co for Mobile Svcs (MobiNil) Essar Group Nobot Inc TokBox Inc NTT DoCoMo OBN Televizija Oi Orange Austria Ortel Mobile Packet One Networks Malaysia Sdn Bhd Pioneer Corp Pixable Inc Portugal Telecom Primus Time Telecom Qtel Etisalat Eudasys SAS Far EasTone France Telecom Fuhu Inc Radishbo-ya Co Ltd Reliance Communications Rogers Communications Rostov Cellular Communication Rsupport CoLtd SAP Tonchidot Corp Tower Records Japan Inc Turun Kaapelitelevisio Oy Verizon Communications Inc. Virgin Media Vividwireless Group Ltd Vivo Participacoes SA VMG Media JSC Vodafone Watanyia Webmoney Corp Xi'an Tianlong Science and Technology Co Zain Zambia Zanzibar Telecom Zoove Corp ____________________________________________________________________________ The newsletter was prepared by the J'son & Partners Consulting Company. We exert every effort to provide actual and forecasting data representing the situation in full and available at the time of the publication of the material. J'son & Partners Consulting reserves the right of revising the data after publication of some new official information by individual players. CONTACT FOR MORE INFORMATION: Pavel Ermolich Commercial Director Pavel@json.ru www.json.ru Copyright © 2013, J’son & Partners Consulting. Media can use any text, diagrams and data contained in this market review only with giving credit to the source of information – J’son & Partners Consulting. ™ J’son & Partners [registered trade mark]. 7

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