This research on next generation access in Spain continues our series of reports on NGA in the Continent

In relation to incumbents in other European markets, Telefónica’s NGA has one of the more aggressive deployment agendas, aiming to cover 40% of homes with FTTB/VDSL by end-2009 (and some FTTH). Its NGA-based Trio Futura retail offers launched in January 2009 after final regulatory clearance. Conditions for Telefónica's NGA in Spain are propitious because retail broadband prices are relatively high and bandwidth commands a premium

Rising audiences for Cuatro in a booming TV advertising market have unexpectedly lifted Sogecable earnings in H1 2007, encouraging confidence that Cuatro will achieve breakeven in 2008, if not in 2007

With 84,000 net pay-TV additions in 2006, Sogecable resumed subscriber growth, but we expect this pace to decline in 2007 unless Sogecable re-positions on basic and expands distribution from satellite to cable and DSL