Competitor Insight #03.2007: Telstra Corporation Ltd.

Publication Date	February 2007
Publisher	IE Market Research
Product Type	Report
Pages	34
ISBN Number
Product Code	IEM00070

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£200.00
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Summary

This market research report on Telstra Corporation Ltd. ('Telstra') provides a comprehensive analysis of Tesltra's strategies, operational and financial metrics. The report covers the key strategic issues facing Telstra, including the fight for market share in the Australian broadband market with the advent of ULL/DSL operators, wholesale migration by AAPT away from Telstra to Powertel, and the likely entry into the broadband space of Vodafone plc. This report also provides extensive analysis of the regulatory issues facing Telstra, including FTTN delays, ULL Pricing, regulations surrounding fixed line wholesale services, PSTN Interconnects, and local call services. The report also provides detailed financial forecasts for Telstra, including our views on Telstra's transformation targets, mobile market share growth, and capex trends.

Content

Strategic Outlook
- Broadband competition from several directions
- What can we expect from ULL/DSL Operators?
- Background on ULLs and the financial impact on Telstra
- AAPT- Wholesale migration begins
- Vodafone- may add some broadband marketing muscle
Operational Summary and Forecasts
- Business Transformation- Telstra not there yet
  - Fixed network modernization
  - 850 MHz 3G mobile network build ahead of schedule
  - Better coverage than competitors
  - Questionable handset offering by Telstra
  - Same data speeds compared to Vodafone and Hutchison
  - Aggressive Voice pricing by Telstra
  - Next G - not a fixed network replacement yet
  - Hutchison's 3G broadband pricing is targeting fixed line operators
Recent Competitive New/Activity
- Optus Delays
- Acquisition of SouFun- Chinese online real estate site
Regulatory Issues
Regulatory Situation not in Telstra's Favour
- FTTN will happen eventually
- FTTN Talks Breakdown creating a window of opportunity for ULL/DSL operators
- Australian Competition Tribunal may be final arbiter
- Telstra and ACCC are in otherwise broad agreement
- ULL pricing not in Telstra's favour
- Fixed Line Wholesale Services to be regulated separately
- PSTN Interconnect
- Local Call Services
- Wholesale Line Rental
- Wholesale DSL
Financial Summary and Forecasts
- Telstra Guidance lowered, but market is expecting worse
- FCF range maintained but movements within the range
- Where our forecasts differ from Telstra's
PSTN Revenues