Vodafone blamed a harsh competitive environment and the timing of Easter for its low revenue growth in core markets reported this week. Its growth did at least not decline again, although we expect that Vodafone will again prove to be underperforming its competitors as they report their figures over the coming weeks 

CPW will also benefit from its partnership with AOL for portal advertising, content and other internet-based applications, relatively small but fast-growing value-added services in which CPW has little experience or market position, which will prove important in terms of both customer retention and margins.

Vivendi Q1 2006 quarterly results show solid underlying improvement in earnings, but disappointing subscription figures, which fell by 40,000 in the quarter 

We regard meeting even this extended deadline as difficult given their slowing growth, churn problems and the increasing network costs associated with their network outsourcing deals, and furthermore EBITDA is unlikely to improve significantly from 2007 onwards 

Vodafone's performance in its core European markets is continuing to worsen in both absolute terms and in relation to its competitors, and its margin progression is weak 

There is little evidence of a revenue meltdown

Vodafone’s discussions with Softbank to exit Japan could remove its most troubled and ill-fitting subsidiary, but only if the structure allows for a clean break, which will require tricky financial engineering given Softbank’s limited ability to pay

We estimate that savings for the typical French contract customer would actually be around 5%, and therefore not worth the extra handset cost and inconvenience involved 

Vodafone announced last week a new extension to its range of music services that will offer European subscribers interactive mobile radio through a collaboration with Sony NetServices

More prominent profile of media in Free's mix of broadband, telephony and IPTV to improve customer retention and attract content owners to Free's broadband distribution channel, while VoIP remains the principal driver for non-access revenues

Vodafone this week announced its formal 3G launch to great fanfare, with new handsets, services and pricing. This brief note gives our view on the launch and likely impact in Europe and Japan.

This in-depth report on pay-TV in France charts the course of Canal Plus and its main, but much smaller, competitor, TPS, over the period 2004-06. We anticipate pay-TV penetration will rise from 35% in 2003 to 38.7% by 2006, driven mainly by aggressive competition between TPS and Canal Plus in an improving economic environment.

Vodafone's strategic direction appears little altered since its change of CEO earlier this year. In this report we look at the company’s overall global positioning and prospects.

On 23 January, the French Competition Council dealt what is likely to be a deathblow to the ambitions of Canal+ Group to obtain exclusive rights to French Premier League football events. The Competition Council ruled in favour of TPS and ordered the 2002 competition suspended pending delivery of its final ruling.