Word: wirelessed
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...market capitalizations of the companies that got these [licenses] rose by more than they paid for them," says Falk Müller-Veerse, European research manager for the investment group Durlacher. "So everyone said, 'We have to get these.'" Put another way, the stock market simply demanded that wireless operators elsewhere get on board the UMTS express. Asked why he paid so much for his UMTS license, one wireless ceo shrugs and says, "Do you know what my board would have done to me if I didn...
...real trouble came in the U.K. and Germany where, unlike Spain, the governments sold their UMTS licenses in auctions. The wireless operators bid prices for bits of the sky up to, well, the sky. Last year the U.K. and Germany won $32 billion and $45 billion respectively, sums that amount to almost $550 per capita. In total, European governments are likely to rake in $108 billion from the sale of UMTS licenses, according to Durlacher research. In hindsight, the telecom operators overpaid, since these days some UMTS airspace is tough to give away. Last month, Belgium found only three bidders...
...earlier this year was a bomb, raising far less cash than the firm had initially hoped. Then again, says Standard and Poor's credit analyst Guy Deslondes, "At least the money is already in the house." Both BT and Deutsche Telekom have talked about similar public offerings of their wireless divisions to raise cash, but just who's going to buy all these new tech stocks...
...good alternative: second generation voice plus sms text messaging," Moroney observes. Then there's so-called 2.5G, which transmits data in a similar fashion to UMTS, but with more limited bandwidth. The innovative Japanese operator NTT DoCoMo, meanwhile, has designs on importing its own version of next-generation wireless to Europe. The really fun stuff like video streaming might come first through something called a wireless LAN, a network available in designated areas like cafés and hotels. Just think of a coffee shop as the new phone booth...
...Just as important, wireless executives are beginning to look for ways to reduce the cost of building the UMTS networks, which Durlacher says could add another $126 billion to the 3G price tag. BT has indicated that it would be interested in sharing costs with other operators...