Reportlinker Adds Vodafone Insight 2009: Comparison of Relative Strengths vis-a-vis France Telecom, Telefonica and Hutchison Whampoa

Jan 07, 2010, 13:25 ET from Reportlinker

NEW YORK, Jan. 7 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:

Vodafone Insight 2009: Comparison of Relative Strengths vis-a-vis France Telecom, Telefonica and Hutchison Whampoa

http://www.reportlinker.com/p0170479/Vodafone-Insight-2009-Comparison-of-Relative-Strengths-vis-a-vis-France-Telecom-Telefonica-and-Hutchison-Whampoa.html

The battle in the telecoms industry for dominance has never been more vigorous and fierce. Mergers and acquisitions are expected to once again become the order of the day with almost all companies trying to increase their footprint in the global arena.

With the recession hitting global economies in 2008, times have been difficult for the telecoms industry to raise the funding necessary for growth and expansion, concurrent with the views of a report by the UN on the global telecoms industry. With a constant downward pressure on prices and a constant upward pressure on facilities demanded by mobile customers, telecom companies are finding it difficult to meet up to the customer expectations. In a report by Ericsson, the way of the future is described as 'free and cheap'. This environment of cut throat competition due to customer expectation is turning the telecoms industry into an increasingly volatile field.

In view of the present climate, it has become imperative for telecom companies to have a sound strategy with strong financials to deliver on the strategies. 'If you allow technology to take charge, you lose. That is the fundamental lesson here. User experience will always win', says one telecom company. It will be those companies who successfully align their strategy with the demands of their customers that will survive and dominate in the end.

How the future will play remains to be seen, but for a telecoms company, it is given that technology will play a dominant role in its development and the development of the market as a whole. From 2G to 3G and 4G, technology has been on the edge of its seat and is always inching for more, enabling a wide array of applications to run on mobile devices. 'Creative destruction', as Schumpeter, a famous economist and a political scientist aptly put it, describes the innovation in the telecoms industry.

This report is the latest in an annual series of reports documenting Vodafone and its market position. In this report, Vodafone's position is comprehensively contrasted against 3 of its principal rivals on a global scale, namely Telefonica-O2, France Telecom/Orange and Hutchison Whampoa (mainly through its H3G Group and HTIL businesses).

Strength in strategy versus sound financial management or both?

Strategic perspective is what is said to give direction and strength to a company's operations, its vision for the future, its investments and its performance in the financial markets.

While strategic management is important, financial management to carry on the strategic objectives of a company is equally important. The flow of analysis in this report involves comprehensive analysis of each company's strategy and then moves on to their financial management performance. This has been done keeping in mind that a strategically sound company also needs a sound financial management.

The report first applies this analytical framework to Vodafone, and then to France Telecom, Telefonica and HWL. The analysis of each company takes into account how the history of each company plays the most important role in the development of strategy.

Leading on, the strategic analysis of all these companies is carried out followed by ratio analysis of the operations of each of the companies in question.

Finally, a comparison is made between the four companies as to which company is better suited to tackle future developments in the telecommunications industry.

Additional financial analysis has been carried out in the end in order to provide a comprehensive view of each of the company's performance in the stock market and what interested investors can expect to gain by investing in these four companies. The approach to this analysis is done in with the principles of value investing, an approach followed by legendary investor Mr. Warren Buffett.

This report gives a concise view of the four companies which will enable a reader to understand the companies and also the telecommunications industry in general and how both are going to play out in the future.

Who should read this report?

This is a unique, independent analysis and includes primary research. Inferences have been drawn from trusted sources to help the process of analysis when required. It is expected that the report will prove beneficial to decision making personnel in telecoms companies or investor.

Companies in focus

This report analyses which, among the four companies, has a better chance of being one of those telecom companies that will lead the way into future generations. Views on stock market performance, financial management and capability of higher management of the four companies will be analyzed in detail because these indicators would give a comprehensive idea about their potential in strategy fulfillment.

Though these four companies are direct competitors in very few markets, the best known being the UK, it can be deduced from their growth strategies that they will soon become direct competitors in many markets in years to come. Taking this into account, this report is a comprehensive insight into the global telecom market.

Why you need to order this report today:

Mobile Operators - Learn what issues face the leaders in the telecommunications industry, and gain insight into the developmental issues facing them. Learn how to mitigate problems that might arise in a scenario where expansion is the key.

Institutional investors - Gain insights into the four companies covered and view an analysis done with the principles of value investing. Gain insights into the complete financial ratio analysis of the four companies.

Who needs to read this report?

Directors, VP and Senior managers in:

  • Mobile/Cellular carriers and operators
  • Mobile handset manufacturers
  • Institutional Investors
  • Analysts
  • Mobile applications developers and engineers
  • Mobile advertisers/marketers
  • Mobile web content players

Table of Contents

CHAPTER 1 INTRODUCTION

1.1 GLOBAL SCENARIO OF THE TELECOMMUNICATIONS INDUSTRY

1.2 COMPANIES IN FOCUS

CHAPTER 2 ANALYSIS OF VODAFONE

2.1 COMPANY OVERVIEW

FIGURE: GLOBAL FOOTPRINT

2.2 HISTORY

2.2.1 EARLY HISTORY

2.2.2 BECOMING A GENUINE GLOBAL PLAYER

2.2.3 NOT PLAYING BY THE RULES

2.2.4 VODAFONE GETS TRULY GLOBAL

2.2.5 MERGERS & ACQUISITIONS ON A SPREE

2.2.6 VODAFONE BRINGS COLOUR TO THE SCREEN

2.2.7 THE 3G TAKES CHARGE

2.2.8 END OF AN ERA: MANAGEMENT CHANGE

2.2.9 SOME DECISIONS COST DEAR

2.2.10 EMBARKING ON TECHNOLOGY AND EMERGING MARKETS

2.2.11 THE SMARTPHONE ERA

2.2.12 CONSOLIDATION FOR STABILITY

2.3 MILESTONES TIMELINE

2.4 STRATEGY

2.4.1 1990- 2008: GROWTH, CONSOLIDATION, CHANGE

2.4.1.1 TAKING ON THE WORLD

2.4.1.2 GROWING CAUTIOUSLY

2.4.1.3 RAGING IN AGAIN

FIGURE: A CYCLICAL CHANGE IN VODAFONE'S STRATEGY

2.4.2 2008- PRESENT: BALANCED STRATEGY

FIGURE: 2008 BALANCED STRATEGY

2.4.3 FUTURE DEVELOPMENTS IN STRATEGY

2.5 FINANCIAL PERFORMANCE- PAST 5 YEARS

2.6 FINANCIAL RATIO ANALYSIS

2.6.1 WHAT'S THE BOTTOM LINE? ANALYSIS OF VODAFONE'S PROFITABILITY

CHART 1: REVENUE TREND- PAST 5 YEARS

CHART 2: PROFIT MARGIN TREND- PAST 5 YEARS

CHART 3: OPERATING PROFIT TREND WITH IMPAIRMENT LOSSES- PAST 5 YEARS

CHART 4: OPERATING PROFIT TREND WITHOUT IMPAIRMENT LOSSES- PAST 5 YEARS

2.6.2 THE PROFITABILITY- SHARE PRICE CORRELATION

CHART 5: EPS TREND- PAST 5 YEARS

CHART 6: SHARE PRICE TREND- PAST 5 YEARS

2.6.3 CUSTOMER GROWTH: ARPU, CUSTOMER BASE

CHART 7: NUMBER OF CUSTOMERS TREND- PAST 5 YEARS

CHART 8: ARPU TREND- PAST 5 YEARS

2.6.4 HOW THIN IS THE CHEESE? ANALYSIS OF VODAFONE'S EFFICIENCY

CHART 9: TOTAL ASSET TURNOVER- PAST 5 YEARS TREND

CHART 10: FIXED ASSET TURNOVER- PAST 5 YEARS TREND

2.6.5 CAN VODAFONE PAY THE BILLS? LIQUIDITY ANALYSIS OF VODAFONE

CHART 11: CURRENT RATIO- PAST 5 YEARS TREND

CHART 12: INTEREST COVER RATIO- PAST 5 YEARS TREND

2.6.6 SHAREHOLDERS RULE: RETURN ON EQUITY

CHART 13: RETURN ON EQUITY TREND- PAST 5 YEARS

2.6.7 SOURCE OF FINANCING: DEBT OR EQUITY?

CHART 14: GEARING RATIO TREND- PAST 5 YEARS

2.6.8 CASH IS KING: CASH FLOW ANALYSIS OF VODAFONE

CHART 15: OPERATING CASH FLOW TREND- PAST 5 YEARS

CHART 16 :NET CASH FLOW TREND- PAST 5 YEARS

2.6.9 A BIRDS EYE VIEW

2.7 A SILVER LINING IN ITS STRATEGY

2.7.1 MARKET FORECAST OF INDIA

CHART 17: INDIAN MOBILE MARKET FORECAST TILL 2015

2.8 KEY POINTS OF THE ANALYSIS

CHAPTER 3 ANALYSIS OF FRANCE TELECOM

3.1 COMPANY OVERVIEW

FIGURE: GLOBAL FOOTPRINT

3.2 HISTORY

3.2.1 EARLY HISTORY

3.2.2 AN ERA OF CHANGE

3.2.3 RAPID DEVELOPMENT OF FRENCH TELECOM

3.2.4 DEAL WORTH A HIGH FUTURE VALUE

3.3 TIMELINE OF FRANCE TELECOM'S HISTORY

3.4 STRATEGY

3.4.1 MAIN DRIVERS

3.4.2 2006- 2008, THE NExT (NEW EXPERIENCE IN TELECOMS) STRATEGY.

3.4.3 FRANCE TELECOM'S SELECTIVE ACQUISITION STRATEGY

3.4.4 FRANCE TELECOM'S DEBT CRISIS

3.4.5 FROM FRANCE TELECOM TO ORANGE

3.4.6 STRATEGY 2012

FIGURE: FRANCE TELECOM'S ORANGE 2012 STRATEGY

3.4.7 ORANGE- STAR PLAYER IN FRANCE TELECOM'S TEAM

FIGURE: POSITION OF ORANGE IN THE WORLD TELECOMS MARKET

FIGURE: ORANGE LABS

FIGURE: ORANGE GLOBAL REACH

3.5 FINANCIAL PERFORMANCE OF FRANCE TELECOM

3.6 FINANCIAL RATIO ANALYSIS

3.6.1 FRANCE TELECOM'S PROFITABILITY: MARGINS

CHART 18: REVENUE TREND- PAST 5 YEARS

CHART 19: PROFIT MARGIN TREND- PAST 5 YEARS

CHART 20: OPERATING PROFIT MARGIN TREND- PAST 5 YEARS

3.6.2 THE EARNINGS- SHARE PRICE CORRELATION

CHART 21: EPS TREND- PAST 5 YEARS

CHART 22: SHARE PRICE TREND- PAST 5 YEARS

CHART 23: EPS- SHARE PRICE CORRELATION- PAST 5 YEARS

3.6.3 FRANCE TELECOM'S CUSTOMER GROWTH: ARPU, CUSTOMER BASE

CHART 24: NUMBER OF CUSTOMERS TREND- PAST 5 YEARS

CHART 25: ARPU TREND- PAST 5 YEARS

3.6.4 FRANCE TELECOM'S OPERATIONAL EFFICIENCY: TURNOVER

CHART 26: TOTAL ASSET TURNOVER- PAST 5 YEARS TREND

CHART 27: FIXED ASSET TURNOVER- PAST 5 YEARS TREND

FIGURE: ORANGE 2012 STRATEGY

3.6.5 CAN FRANCE TELECOM PAY ITS BILLS? CURRENT RATIO, INTEREST COVER

CHART 28: CURRENT RATIO- PAST 5 YEARS TREND

CHART 29: INTEREST COVER RATIO- PAST 5 YEARS TREND

3.6.6 HOW HAS FRANCE TELECOM MANAGED SHAREHOLDERS FUNDS: RoE

CHART 30: RETURN ON EQUITY TREND- PAST 5 YEARS

3.6.7 SOURCE OF FINANCING

CHART 31: GEARING RATIO TREND- PAST 5 YEARS

3.6.8 CASH MANAGEMENT OF FRANCE TELECOM

CHART 32: CASH FLOW TREND (NET AND OPERATING)- PAST 5 YEARS

3.6.9 ON A WHOLE: FINANCIAL PERFORMANCE

3.7 FUTURE FOCUS

FIGURE: FUTURE FOCUS OF ORANGE

FIGURE: ORANGE KEY DATA

FIGURE: ENTERPRISE BUSINESS GLOBAL REACH

3.8 KEY POINTS

CHAPTER 4 ANALYSIS OF TELEFONICA

4.1 COMPANY OVERVIEW

FIGURE: GLOBAL FOOTPRINT

4.2 BACKGROUND

4.2.1 1924-1970: FIRST BASE WITH RAPID TECHNOLOGICAL DEVELOPMENT

4.2.2 1970-1990: GOVERNMENT REGULATIONS

4.2.3 1990-1998: SOUTH AMERICAN EXPANSION

4.2.4 LIBERALISATION

4.2.5 TELEFONICA: 21st CENTURY

4.2.6 O2

4.3 MILESTONES TIMELINE

4.4 STRATEGY

4.4.1 TILL 2005

FIGURE: STRATEGY IN 2005

4.4.2 FURTHER DEVELOPMENTS

FIGURE: REVISED STRATEGY OF 2007

4.4.3 STRATEGY- FUTURE

FIGURE: VISION 2011

FIGURE: TRANSFORMATION KEYS FOR DEVELOPMENT

FIGURE: REPTRAK REPUTATION MODEL

4.5 FINANCIAL PERFORMANCE- TELEFONICA

4.6 RATIO ANALYSIS

4.6.1 HOW MUCH PROFIT DOES TELEFONICA PRODUCE EACH YEAR?

CHART 33: REVENUE TREND- PAST 5 YEARS

CHART 34: PROFIT MARGIN TREND- PAST 5 YEARS

CHART 35: OPERATING PROFIT MARGIN TREND- PAST 5 YEARS

4.6.2 THE EARNINGS- SHARE PRICE CORRELATION

CHART 36: EPS TREND- PAST 5 YEARS

CHART 37: SHARE PRICE TREND- PAST 5 YEARS

CHART 38: EPS- SHARE PRICE CORRELATION- PAST 5 YEARS

4.6.3 REVENUE GENERATORS: CUSTOMERS

CHART 39: NUMBER OF CUSTOMERS TREND- PAST 5 YEARS

CHART 40: ARPU TREND- PAST 5 YEARS

4.6.4 OPERATING EFFICIENCY OF TELEFONICA

CHART 41: TOTAL ASSET TURNOVER- PAST 5 YEARS TREND

CHART 42: FIXED ASSET TURNOVER- PAST 5 YEARS TREND

4.6.5 HOW IS TELEFONICA PAYING IS BILLS EVERY YEAR?

CHART 43: CURRENT RATIO- PAST 5 YEARS TREND

CHART 44: INTEREST COVER RATIO- PAST 5 YEARS TREND

4.6.6 HOW IS TELEFONICA MANAGING THEIR SHAREHOLDERS MONEY

CHART 45: RETURN ON EQUITY TREND- PAST 5 YEARS

4.6.7 SOURCE OF FINANCING

CHART 46: GEARING RATIO TREND- PAST 5 YEARS

4.6.8 CASH FLOW ANALYSIS OF TELEFONICA

CHART 47: CASH FLOW TREND (NET AND OPERATING)- PAST 5 YEARS

4.6.9 A CONCISE VIEW

4.7 KEY POINTS

CHAPTER 5 ANALYSIS OF HUTCHISON WHAMPOA

5.1 COMPANY OVERVIEW

5.2 HISTORY

5.2.1 HTHKH- HUTCHISON TELECOMMUNICATIONS HONG KONG HOLDINGS LIMITED.

5.2.2 H3G

5.2.2.1 OVERVIEW

FIG: H3G GLOBAL FOOTPRINT

5.2.2.2 THE BEGINNING, 2000- 2005

5.2.2.3 H3G AND MOBILE 2.0

5.2.3 HTIL- HUTCHISON TELECOMMUNICATIONS INTERNATIONAL LIMITED

5.2.4 METRO BROADCAST CORPORATION LIMITED (METRO)

5.3 TOTAL TELECOMMUNICATIONS GLOBAL FOOTPRINT

5.4 MAJOR MILESTONES- TIMELINE

5.4.1 HTHKH

5.4.2 H3G

5.4.3 HTIL

5.4.4 METRO BROADCAST CORPORATION LIMITED (METRO)

5.5 STRATEGY

5.5.1 HTHKH

5.5.1.1 STRATEGIC OBJECTIVES OF HTHKH

FIGURE: HTHKH STRATEGIC OBJECTIVE

5.5.2 HTIL

FIGURE: HTIL GROWTH STRATEGY

5.5.2.1 GROWTH MECHANISM OF HTIL

5.5.3 H3G

5.5.3.1 BRINGING MOBILE 2.0 TO THE WORLD

5.5.3.2 MOBILE 2.0

5.5.4 METRO

5.6 FINANCIAL PERFORMANCE- GROUP AND SEGMENT

5.6.1 CONSIDERATIONS

5.7 RATIO ANALYSIS

5.7.1 REVENUES

CHART 48: REVENUE TREND (GROUP)- PAST 5 YEARS

CHART 49: REVENUE TREND (TELECOMMUNICATIONS SEGMENT)- PAST 5 YEARS

5.7.2 PROFITABILITY- PAST FIVE YEARS PICTURE

CHART 50: PROFIT MARGIN (GROUP) TREND- PAST 5 YEARS

CHART 51: OPERATING PROFIT MARGIN (GROUP) TREND- PAST 5 YEARS

CHART 52: OPERATING PROFIT MARGIN (TELECOMMUNICATION SEGMENT) TREND- PAST 5 YEARS

5.7.3 FINANCIAL PERFORMANCE AND SHARE PRICES- CORRELATION ANALYSIS

CHART 53: EPS (GROUP) TREND- PAST 5 YEARS

CHART 54: SHARE PRICE (GROUP) TREND- PAST 5 YEARS

CHART 55: EPS- SHARE PRICE CORRELATION (GROUP)- PAST 5 YEARS

5.7.4 GLOBAL REACH- CUSTOMERS

CHART 56: TREND IN NUMBER OF CUSTOMERS (TELECOMMUNICATIONS) - PAST 5 YEARS

CHART 57: ARPU (TELECOMMUNICATIONS) TREND- PAST 5 YEARS

5.7.5 HWL's OPERATING EFFICIENCY

CHART 58: TOTAL ASSET TURNOVER (GROUP)- PAST 5 YEARS TREND

CHART 59: FIXED ASSET TURNOVER (GROUP)- PAST 5 YEARS TREND

5.7.6 MANAGING LIQUIDITY- CURRENT RATIO AND INTEREST COVER

CHART 60: CURRENT RATIO (GROUP)- PAST 5 YEARS TREND

CHART 61: INTEREST COVER RATIO (GROUP)- PAST 5 YEARS TREND

5.7.7 SHAREHOLDERS CATCH IN THE COMPANY

CHART 62: RETURN ON EQUITY (GROUP) TREND- PAST 5 YEARS

5.7.8 SOURCE OF FINANCING

CHART 63: GEARING RATIO (GROUP) TREND- PAST 5 YEARS

5.7.9 IS THERE CASH?

5.7.10 AN OVERVIEW OF HWL'S FINANCIAL PERFORMANCE

5.8 KEY POINTS

CHAPTER 6 COMPARATIVE ANALYSIS OF THE FOUR COMPANIES IN THE REPORT

6.1 THE THEME OF COMPARISON

FIGURE: ANALYSIS MODEL

6.2 THE GLOBAL TELECOMMUNICATIONS INDUSTRY- THE WAY OF THE FUTURE

6.2.1 NEWLY DEVELOPING BUSINESS MODELS

6.2.1.1 TRADITIONAL TELECOM COMPANIES AND NEW AGE TELECOM SERVICE PROVIDERS

6.2.1.2 WHO WILL WIN AND HOW

6.2.1.3 NEW BUSINESS MODELS

6.2.2 EMERGING GEOGRAPHICAL HOTSPOTS OF THE TELECOM INDUSTRY

6.2.2.1 FORECAST FOR INDIA- 2015

CHART 63: INDIAN MOBILE MARKET FORECAST

6.2.2.1.1 INDIAN MARKET BARRIERS

6.2.2.1.2 MARKET STRUCTURE: MAJOR PLAYERS

FIGURE: MOBILE OPERATORS BY MARKET SHARE

6.2.2.2 FORECAST FOR CHINA- 2015

CHART 64: CHINESE MOBILE MARKET FORECAST

6.2.2.2.1 CHINESE MARKET BARRIERS

6.2.2.2.2 MARKET STRUCTURE: MAJOR PLAYERS

FIGURE: MOBILE OPERATORS BY MARKET SHARE

6.2.2.3 FORECAST FOR RUSSIA- 2015

CHART 65: RUSSIAN MOBILE MARKET FORECAST

6.2.2.3.1 RUSSIAN MARKET BARRIERS

6.2.2.3.2 MARKET STRUCTURE: MAJOR PLAYERS

FIG: MOBILE OPERATORS BY MARKET SHARE

6.2.2.4 FORECAST FOR INDONESIA- 2015

CHART 66: INDONESIAN MOBILE MARKET FORECAST

6.2.2.4.1 INDONESIAN MARKET BARRIERS

6.2.2.4.2 MARKET STRUCTURE: MAJOR PLAYERS

FIGURE: MOBILE OPERATORS BY MARKET SHARE

FIGURE: MOBILE OPERATORS BY MARKET SHARE (OTHERS)

6.2.2.5 FORECAST FOR BRAZIL- 2015

CHART 67: BRAZILIAN MOBILE MARKET FORECAST

6.2.2.5.1 BRAZILIAN MARKET BARRIERS

6.2.2.5.2 MARKET STRUCTURE: MAJOR PLAYERS

FIGURE: MOBILE OPERATORS BY MARKET SHARE

6.2.2.6 FORECAST FOR AFRICA- 2015

CHART 68: AFRICAN MOBILE MARKET FORECAST

6.2.2.6.1 AFRICAN MARKET BARRIERS

6.3 COMPARATIVE ANALYSIS OF THE FOUR TELECOMS COMPANIES AND THEIR STRATEGIC ALIGNMENT TO THE FUTURE AND EMERGING MARKETS

6.3.1 COMPARISON OF FINANCIAL PERFORMANCE WITH A FORECAST FOR THEIR FUTURE PERFORMANCE

6.3.1.1 OPERATING MARGIN- FORECASTS

CHART 69: OPERATING MARGIN- FORECASTS

6.3.1.2 NUMBER OF CUSTOMERS- FORECASTS

CHART 70: NUMBER OF CUSTOMERS- FORECASTS

6.3.1.3 TOTAL ASSET TURNOVER- FORECASTS

CHART 71: TOTAL ASSET TURNOVER- FORECASTS

6.3.1.4 FIXED ASSET TURNOVER- FORECASTS

CHART 72: FIXED ASSET TURNOVER- FORECASTS

6.3.1.5 CURRENT RATIO- FORECASTS

CHART 73: CURRENT RATIO- FORECASTS

6.3.1.6 ROE- FORECASTS

CHART 74: ROE- FORECASTS

6.3.1.7 GEARING- FORECASTS

CHART 75: GEARING- FORECASTS

6.3.2 DEGREE OF STRATEGIC ALIGNMENT- TECHNOLOGICAL AND GEOGRAPHIC

TABLE: STRATEGIC AND TECHNOLOGICAL ALIGNMENT

CHAPTER 7 ADDITIONAL FINANCIAL ANALYSIS

7.1 APPROACH

7.2 WHAT IS VALUE INVESTING? THE WARREN BUFFET WAY

7.2.1 VALUE INVESTING

7.2.2 CUSTOMIZATION

7.3 EPS AND SHARE PRICE FORECASTS OF THE FOUR COMPANIES- FOR SHAREHOLDERS AND EQUITY INVESTORS

7.3.1 VODAFONE

7.3.1.1 KEY STATISTICS

CHART 76: KEY STATISTICS

7.3.1.2 EPS AND BOOK VALUE FORECASTS

CHART 77: FORECAST OF EPS AND BOOK VALUE

7.3.1.3 SHARE PRICE FORECASTS

CHART 78: SHARE PRICE FORECASTS

7.3.1.4 DIVIDEND FORECAST

CHART 79: DIVIDEND FORECAST

7.3.1.5 RATE OF RETURN FROM INVESTMENT- 2015

CHART 80: RATE OF RETURN FROM INVESTMENT- 2015

7.3.2 FRANCE TELECOM

7.3.2.1 KEY STATISTICS

CHART 81: KEY STATISTICS

7.3.2.2 EPS AND BOOK VALUE FORECASTS

CHART 82: FORECAST OF EPS AND BOOK VALUE

7.3.2.3 SHARE PRICE FORECASTS

CHART 83: SHARE PRICE FORECASTS

7.3.2.4 DIVIDEND FORECAST

CHART 84: DIVIDEND FORECAST

7.3.2.5 RATE OF RETURN FROM INVESTMENT

CHART 85: RATE OF RETURN FROM INVESTMENT- 2015

7.3.3 TELEFONICA

7.3.3.1 KEY STATISTICS

CHART 86: KEY STATISTICS

7.3.3.2 EPS AND BOOK VALUE FORECASTS

CHART 87: FORECAST OF EPS AND BOOK VALUE

7.3.3.3 SHARE PRICE FORECASTS

CHART 88: SHARE PRICE FORECASTS

7.3.3.4 DIVIDEND FORECAST

CHART 89: DIVIDEND FORECAST

7.3.3.5 RATE OF RETURN FROM INVESTMENT

CHART 90: RATE OF RETURN FROM INVESTMENT- 2015

7.3.4 HUTCHISON WHAMPOA LIMITED

7.3.4.1 KEY STATISTICS

CHART 91: KEY STATISTICS

7.3.4.2 EPS AND BOOK VALUE FORECASTS

CHART 92: FORECAST OF EPS AND BOOK VALUE

7.3.4.3 SHARE PRICE FORECASTS

CHART 93: SHARE PRICE FORECASTS

7.3.4.4 DIVIDEND FORECAST

CHART 94: DIVIDEND FORECAST

7.3.4.5 RATE OF RETURN FROM INVESTMENT

CHART 95: RATE OF RETURN FROM INVESTMENT- 2015

7.3 CREDIT ANALYSIS OF THE FOUR COMPANIES- FOR BOND HOLDERS

7.4.1 RATINGS USED

7.4.2 VODAFONE CREDIT RATINGS

CHART 96- VODAFONE'S S&P CREDIT RATINGS

7.4.3 FRANCE TELECOM CREDIT RATINGS

CHART 97- FRANCE TELECOM'S S&P CREDIT RATINGS

7.4.4 TELEFONICA CREDIT RATINGS

CHART 98- TELEFONICA'S S&P CREDIT RATINGS

7.4.5 HUTCHISON WHAMPOA LIMITED

CHART 99- HWL'S S&P CREDIT RATINGS

CHAPTER 8 CONCLUSION

Companies Listed

A C Nielsen

ACEA

Aircel

AirTouch Communications

Alcatel

Andala

Antena 3 TV

Apple

AT&T

Bakrie Telecom

Bearing Point

Bell Atlantic

BellSouth

Bharti Airtel

Bitco

BlackBerry

BPL

BSNL

BT

Carlo

Cesky Telecom

Cheung Kong Holdings Limited

China Mobile

China Netcom

China Telecom

China Unicom

Cisco Systems

CNTE

Colombia Telecom

Compagnie Generale des Eaux

CRT, Brazil

CTC, Chile

Deutsche Telekom

E- Plus

eBay

Ecole des Ponts

Eircell

Eircom

Ericsson

Essar Spacetel

Etisalat DB Telecom

Excel Comindo

Financial Times

France Telecom

French Post Office

Gartner

Ghana Telecom

Google

H3G

Hani Telecom

Hi3G Access AB

HP

HTHKH

HTIL

Hutchison CP Telecom

Hutchison Essar

Hutchison Global Communications

Hutchison Whampoa

IDEA

Indosat

Infostrada

Intelsat

International Telephone and Telegraph Corporation

J- Phone

J- Sky

KDDI

Keteke

KT Corporation

Libertel

Lucent Technologies

MaLigne TV

Mannesmann

Max

MegaFon

Metro

Microsoft

MobiFon S.A

Mobilcom AG

Mobile 8

Mobilfunk

Motorola

MoviLine

Movistar

MSN

MTS

MySpace

Natrindo

NEC

Nokia

Nokia Siemens

Noos

Novatel Wireless

NTT DoCoMo

O2

Oi

Olivetti Corporation

Omnitel

Orange

Oskar Mobile

Panafon- Vodafone

Paris Bourse

Peoples Phone

Portugal Telecom

Proximus

Racal Electronics

Radianz Equant

Reliance

Reptrak

Rey Moreno

S&P

Sampoerna

SFR

Skype

Smart Telecom

SmarTone

SOFTBANK Corporation

Sprint Communications

ST Microelectronics

Swisscom

Taiwan Fixed Network Co Ltd

TalkLand

Tata

TDF

Telecom, Indonesia

Telecom Corporation of New Zealand

Telefonica

Telenor

Telenor

Telkomsel

The Stock Exchange of Hong Kong

TIM Brazil

TNS Sofres

Tower Participations

Unitech Wireless

Verizon Wireless

Via Digital

VimpelCom

Vivendi Universal

Vivo

Vodacom

Vodafone

Vodafone AirTouch

Wanadoo

wisscom Mobile

Yahoo!

YouTube

To order this report:

Telecommunication Services Industry: Vodafone Insight 2009: Comparison of Relative Strengths vis-a-vis France Telecom, Telefonica and Hutchison Whampoa

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    Nicolas Bombourg
    Reportlinker
    Email: nbo@reportlinker.com
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