The UK business (EAUS) is continuing to improve ahead of guidance as expected and its turnround can now be judged a success. Management has announced an aggressive plan to extract synergy from the recently acquired Thus
In our view the potential for synergies from an acquisition of Thus by C&W, though more limited than might be supposed, would still have a significant impact on the combined entity at the EBITDA level
International performance continued to be weak apart from Macau, although well within EBITDA guidance. Turnaround in Jamaica remains a significant challenge
O2 this week announced changes to its contract tariffs; however, these will have limited impact for most of their subscribers, and the reductions to their data pricing only bring them into line with changes the other operators have already made
Unity Media sold its 14.58% stake in German pay-TV operator Premiere to News Corporation at the start of 2008, prompting speculation of a full takeover by News Corporation later in the year