Sky H1 results were very solid, maintaining 5% revenue growth and 10% EBITDA growth, with Sky continuing to support a widening product portfolio and more expensive core products with strong cost control and execution

Subscriber volume growth was a little weak at the margin, but this will be helped by all-IP products expanding the economically addressable base in new, and existing, markets 

There remain questions on content, with the outlook for premium football rights uncertain in the UK and Italy, and investment in Originals questionable given a mixed track record, but certainly with upside

H3G and T-Mobile have agreed to fully share their 3G networks, with their networks being roughly doubled to a combined 13,000 sites over the next two years

H3G has launched the ‘Skypephone’, a Skype-branded phone with a free Skype VoIP service fully integrated into the handset

H3G’s revenue growth has slowed significantly, with H1 revenue flat on the previous half, driven by steady churn and a reduced investment in customer acquisition

H3G’s H2 2006 results were a mixed bag, with the UK’s revenue growth strong but Italy’s weak, churn reduced but unit SACs up, and non-SAC operating costs reduced but capex up sharply

H3G has removed roaming charges for customers roaming onto its own overseas networks. While reducing roaming prices can be partially, or even fully, compensated for by elasticity effects, removing them altogether has far more limited direct compensations, especially when consumers are on bundle tariffs