Letter to the Editor of the Financial Times, published 28 November (London edition) and 2 December (International edition), 2002.
A 3G business is not a voice business, it is a data and Web-centric services business, and however ‘attractive returns in the future’ may be, the simple fact is that they are irrelevant to the auction price. They are irrelevant because winning an auction does not confer the right to run a data and Web-centric business. In an Internet world no licence of any kind is required to do so.
Download the letter here
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