Global Mobile M&A: Analysis of the changing telecoms investment landscape

Table of Contents

• Emerging markets set to drive M&A
  • Figure 1.1: Global net additions by region, 1Q07 vs 1Q08
• Outlook - a new breed of investor

• WESTERN EUROPE
• Summary
  • Figure 1.1: Western Europe, mergers and acquisitions, 1Q06-2Q08
  • Figure 1.2: Western Europe, top ten fees for recent license awards, 1Q07-2Q08
• Western European mergers and acquisitions
• Regional players in Western Europe
  • Figure 1.3: Western Europe top ten investors by proportionate subscriptions, 1Q08
• Drivers for mergers and acquisitions in Western Europe
• Purchase of MVNOs and SPs
• Intra-market consolidation
• Full control over assets
• Facilities and infrastructure
• Future opportunities in Western Europe

• CENTRAL AND EASTERN EUROPE
• Summary
  • Figure 2.1: Central and Eastern Europe, selected acquisitions, 1Q06-2Q08
  • Figure 2.2: Central and Eastern Europe 10 most recent license awards, 2Q07-2Q082
• Central and Eastern European mergers and acquisitions
• Who is investing in the region?
  • Figure 2.3: Central and Eastern Europe, top 10 investors by proportionate subscriptions, 1Q08
• Drivers for mergers and acquisitions in Central and Eastern Europe
• Russia - consolidation at home, expansion in CIS
• Developing regional clusters
  • Figure 2.4: Central and Eastern Europe, Telekom Austria footprint, 2Q08
• Acquisition for convergence
• Future opportunities in Central and Eastern Europe
• Potential licenses in Central and Eastern Europe
  • Figure 2.5: Central and Eastern Europe future license opportunities, 2008-2009

• NORTH AMERICA
• Summary
  • Figure 3.1: North America, mergers and acquisitions, 1Q06-2Q08
  • Figure 3.2: North America top 10 fees paid for cellular licenses by date, 2006-2008
• North American mergers and acquisitions
• Regional players in North America
  • Figure 3.3: North America top 10 investors by proportionate subscriptions, 1Q08
• Drivers for mergers and acquisitions in North America
• Future opportunities in North America

• LATIN AMERICA
• Summary
  • Figure 4.1: Latin America, mergers and acquisitions, 1Q06-2Q08
  • Figure 4.2: Latin America 10 most recent license awards, 4Q07-1Q08
• Latin America mergers and acquisitions
• Regional players in Latin America
  • Figure 4.3: Latin America top 10 investors by proportionate subscriptions, 1Q08
• Drivers for mergers and acquisitions in Latin America
• Consolidation in Brazil
• Regional hubs
• Future opportunities in Latin America

• MIDDLE EAST AND AFRICA
• Summary
  • Figure 5.1: Middle East and Africa, mergers and acquisitions, 1Q06-2Q08
  • Figure 5.2: Middle East and Africa 10 most recent license awards, 4Q07-1Q08
• Mergers and acquisitions in Middle East and Africa 2006-2008
• Regional players in the Middle East and Africa
  • Figure 5.3: MEA top 10 investors by proportionate subscriptions, 1Q08
• Drivers for mergers and acquisitions in MEA
• Future opportunities in MEA

• INDIAN SUB-CONTINENT
• Summary
  • Figure 6.1: Indian sub-continent, mergers and acquisitions, 1Q06-2Q08
• Indian sub-continent mergers and acquisitions overview
• Regional players in the Indian sub-continent
  • Figure 6.2: Indian sub-continent, regional operators and investors, 1Q08
  • Figure 6.3: Indian sub-continent top 10 overseas investors, 1Q08
• Drivers for mergers and acquisitions in the Indian sub-continent
• Future opportunities in the Indian sub-continent

• SOUTH EAST ASIA
• Summary
  • Figure 7.1: South East Asia, mergers and acquisitions, 1Q06-2Q08
  • Figure 7.2: South East Asia most recent license awards, 1Q06-1Q08
• South East Asia mergers and acquisitions
• Regional players in South East Asia
  • Figure 7.3: South East Asia top 10 investors by proportionate subscriptions, 1Q08
• Drivers for mergers and acquisitions in South East Asia
• Investment in complementary assets to gain scale
• Opportunities for organic growth and high ROI
• License-motivated M&A
• Future opportunities in South East Asia

• Weste Europe: Full list of license awards by date, 2006-2008
• Central and East Europe: Full list of license awards by date, 2006-2008
• North America: Full list of license awards by date, 2006-2008
• Latin America: Full list of license awards by date, 2006-2008
• Middle East and Africa: Full list of license awards by date, 2006-2008
• South East Asia: Full list of license awards by date, 2006-2008

• Global: Full list of M&A activity, 2006
• Global: Full list of M&A activity, 2007
• Global: Full list of M&A activity, 1H08

• Global: Top 10 M&As (by value), 2006
• Global: Top 10 M&As (by value), 2007
• Global: Top M&As (by value), 1H08

• Global: Top (> 50 million subs) global investors and operators by proportionate equity subscriptions, March 2008
• Africa: Leading investors by proportionate equity subscriptions, March 2008
• Americas: Leading investors by proportionate equity subscriptions, March 2008
• Asia Pacific: Leading investors in proportionate equity subscriptions, March 2008
• Central and East Europe: Leading investors in proportionate equity subscriptions, March 2008
• Weste Europe: Leading investors in proportionate equity subscriptions, March 2008
• Middle East: Leading investors in by proportionate equity subscriptions, March 2008
• USA/Canada: Leading investors in by proportionate equity subscriptions. March 2008

• Global: Total number of proportionate subscriptions by investor, March 2008

• Global: Total number of subscriptions by region, 2006-2Q08
• Global: WCIS forecast by subscriptions, by region, 2008-2013