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| == Vantage ==
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| In May 2021, 1&1 and Telefonica signed a long-term national roaming agreement. The roaming agreement "goes back to a commitment by Telefónica as part of the EU antitrust approval of the merger with E-Plus in 2014" and it has an initial term until 30 June 2025 when 1&1 can unilaterally extend it until 30 June 2029. Thereafter, 1&1 can request for an extension up to 30 June 2034. The contract notes, " the national roaming agreement provides for annually decreasing prices, which apply retroactively from July 2020 also to the ongoing MBA MVNO agreement." It adds, " The prices for the first extension option until June 2029 are determined by specific rules. In the period thereafter, Telefónica continues to be obliged to offer non-discriminatory prices."
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| == Rakuten ==
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| In May 2021, 1&1 and Telefonica signed a long-term national roaming agreement. The roaming agreement "goes back to a commitment by Telefónica as part of the EU antitrust approval of the merger with E-Plus in 2014" and it has an initial term until 30 June 2025 when 1&1 can unilaterally extend it until 30 June 2029. Thereafter, 1&1 can request for an extension up to 30 June 2034. The contract notes, " the national roaming agreement provides for annually decreasing prices, which apply retroactively from July 2020 also to the ongoing MBA MVNO agreement." It adds, " The prices for the first extension option until June 2029 are determined by specific rules. In the period thereafter, Telefónica continues to be obliged to offer non-discriminatory prices."
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| == 1&1 ==
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| In May 2021, 1&1 and Telefonica signed a long-term national roaming agreement. The roaming agreement "goes back to a commitment by Telefónica as part of the EU antitrust approval of the merger with E-Plus in 2014" and it has an initial term until 30 June 2025 when 1&1 can unilaterally extend it until 30 June 2029. Thereafter, 1&1 can request for an extension up to 30 June 2034. The contract notes, " the national roaming agreement provides for annually decreasing prices, which apply retroactively from July 2020 also to the ongoing MBA MVNO agreement." It adds, " The prices for the first extension option until June 2029 are determined by specific rules. In the period thereafter, Telefónica continues to be obliged to offer non-discriminatory prices."
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| == 1&1 5G Partners ==
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| === 1. Telefonica ===
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| Telefonica is one of the Gernan's four MNOs. It had a revenue of 8.224 billion euros in 2022. The network operator currently has more than 99% 4G/LTE coverage across Germany. Additionally, its 5G currently covers more than 80% of German population. It plans to achieve nationwide 5G coverage by 2025. Its 4G/LTE customers enjoy network speeds of up to 225 Mbit/s.
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| ==== Its contract with 1&1 ====
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| In May 2021, 1&1 and Telefonica signed a long-term national roaming agreement. The roaming agreement "goes back to a commitment by Telefónica as part of the EU antitrust approval of the merger with E-Plus in 2014" and it has an initial term until 30 June 2025 when 1&1 can unilaterally extend it until 30 June 2029. Thereafter, 1&1 can request for an extension up to 30 June 2034. The contract notes, " the national roaming agreement provides for annually decreasing prices, which apply retroactively from July 2020 also to the ongoing MBA MVNO agreement." It adds, " The prices for the first extension option until June 2029 are determined by specific rules. In the period thereafter, Telefónica continues to be obliged to offer non-discriminatory prices."
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| "The start date for national roaming will be set by 1&1 Drillisch in parallel with the launch of the 1&1 Drillisch mobile network. From this date, all new customers and all 1&1 Drillisch customers migrated to 1&1 Drillisch's network will have access to 1&1 Drillisch's 5G network, and automatically non-discriminatory access to Telefónica's 2G and 4G mobile network via national roaming in areas not yet rolled out by 1&1 Drillisch. From 1 January 2026, access to 4G national roaming in Telefónica's mobile network will be limited to some extent in certain urban areas which will then be covered by 1&1 Drillisch's 5G network. However, in these areas a minimum coverage of national roaming of up to 50 Mbit/s is always ensured. The agreed national roaming services complement the exceptional innovation potential of 1&1 Drillisch's 5G network.
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| 1&1 Drillisch customers, who are currently activated on Telefónica's network, will step-by-step be migrated within a contractually agreed transition period following the launch of 1&1 Drillisch's 5G network and will continue to have 2G, 4G and 5G access to Telefónica's mobile network until then." Said the contract.
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| === 2. Vantage Towers ===
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| Vantage Towers is Europe's largest tower company. It constructs, builds and rents out mobile towers or sites. Vantage Towers was formed in 2019 by Vodafone with the aim of using it to rent out its European mobile masts. It has operations in 10 markets in Europe and has around 82,000 sites. In the year ended March 2022, it generated a profit of €251 million before tax and had gross assets of €10.5 billion. Vantage Towers was IPOed in March 2021 at €12.1 billion euros valuation and an offer price of 24 euros. Its headquarters is in Düsseldorf, Germany. Vodafone has 81.7% stake in Vantage Towers. However, there is a joint venture deal that will see transfer of 40% of its stake to a Consortium by the first half of 2023. The deal will see Vantage Towers becomes less dependant on Vodafone, hence accelerating its growth potential.
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| ==== Its Contract with 1&1 ====
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| On December 9 2021, 1&1 Mobilfunk GmbH, a subsidiary of 1&1 AG, signed a long-term agreement with Vantage Towers. The agreement will give 1&1 AG access to up to 5,000 antennna sites belonging to Vantage Towers. The first sites were to be availed in 2022 with the aim of giving 1&1 access to at least 3,800 sites by 2025. The contract has a term of 20 years with the first contract expiring in 2040. However, 1&1 has an option to extend it until 2060.
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| ==== 1&1-Vantage Towers Partnership developments ====
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| On February 24 2022, 1&1 announced that it was going to launch a complaint against Vantage Towers at the Federal Cartel Office for failing to meet its antenna sites obligations. The complaint is also against Vodafone who happens to be the majority shareholder of Vantage Towers with a 81 percent stake. According to 1&1, Vodafone is using its influence to get preferential treatment from Vantage Towers at the expense of 1&1. As at the end of 2022, 1&1 had only five 5G antenna sites, some provided by Vantage Towers. On the other hand, Vodafone had 1,600 5G antenna sites based on Vantage Towers infrastructure. Other than failing to meet its 2022 antenna site obligations, Vantage Towers and Vodafone has also told 1&1 that they won't be able to meet their obligations in the first quarters of 2023. This means that the 1&1's planned launch of 5G in Q3 2022 will be pushed to another date. 1&1 is also complaining that Vodafone is supporting the extension of low-band frequencies given to incumbent network operators Vodafone, Deutsche Telekom and Telefónica for further years without an auction. According to 1&1, this is wrong considering that its network is hardly built up and Vodafone is somehow to be blamed for the low-build out of Vantage Towers antenna sites. We believe that the immediate action taken by 1&1 had been carefully planned and that 1&1 wants to capitalise on the new capital structure at Vantage Towers. The capital structure makes Vantage Towers independent from its main shareholders. It also make third party customers more important than shareholders. 1&1 probably hopes to compel Vantage Towers to give them access to the next towers to be constructed at the expense of Vodafone. Given that 1&1 stands to be the fourth MNO in Germany and its good track record of leveraging regulatory bodies, we believe that 1&1 stands a chance to win the complaint.
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| On September 16 2022, 1&1 announced that it was not going to meet its obligation of 1,000 5G antenna sites by 2022 due to supply bottlenecks experienced by its major partner(Vantage Towers). Vantage Towers was supposed to provide around two-thirds of the 1,000 antenna sites by the end of 2022. 1&1 added that its other partners were performing as expected and that the delay was not expected to affect the planned launch of its 5G network in 2023. Additionally, the delay was not going to affect the fulfillment of its 50% network coverage by 2025. 1&1 hoped to close the gap with its other partners. However, the 1,000 5G sites was not going to be reached untill Summer 2023.
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