UMTS UK Spectrum Auction for Third Generation Mobile Communications N M ROTHSCHILD & SONS LIMITED March 1998 IMPORTANT NOTICE This presentation has been prepared on behalf of the Radiocommunications Agency by NM Rothschild & Sons Limited (“Rothschild”),
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UK Spectrum Auction
for Third Generation Mobile Communications
N M ROTHSCHILD & SONS LIMITED
This presentation has been prepared on behalf of the Radiocommunications Agency by NM Rothschild & Sons Limited (“Rothschild”),
as financial advisor in connection with the possible allocation of spectrum for UMTS (“UMTS Spectrum”) by auction (the “Auction”).
The presentation (which is for information purposes only) is made available on the express understanding that it will only be used
by the recipient for the sole purpose of assisting the recipient in deciding whether it wishes to proceed with a further investigation of
possible participation in the Auction. The presentation is not intended to form the basis of any investment decision or other evaluation
or any decision to participate in the Auction and should not be considered as a recommendation by the Secretary of State, the
Radiocommunications Agency, Rothschild or its other advisors to any recipient of the presentation to participate in the Auction.
Each person to whom this presentation is made available must make its own independent assessment of the potential value of an
allocation of UMTS Spectrum after making such investigation as he may deem necessary in order to determine whether to participate
in the Auction. All information contained in this presentation is subject to updating, modification and amendments.
While the information contained in the presentation is believed to be accurate, it has not been independently verified by Rothschilds
and none of the Radiocommunications Agency, Rothschild or any or any of its other advisors or any of their respective directors,
partners, officers or employees make any representation or warranty (express or implied) nor accept any responsibility as to, or in relation to, the accuracy or completeness of the information contained in the presentation or any other written or oral information made available
to any interested party or its advisors (and no one is authorised to do so on behalf of any of them) and any liability in respect of any such
information or any inaccuracy therein, or omission therefrom, is hereby expressly disclaimed. In particular, but without prejudice to the
generality of the foregoing, no representation or warranty is given as to the achievement or reasonableness of any future projections,
estimates, prospects or returns contained in this presentation.
The presentation does not constitute an offer or invitation to participate in the Auction, nor does it constitute the basis of any contract
which may be concluded in respect of any allocation of UMTS Spectrum.
Recipients are not to construe the content of this presentation, or any other communication by or on behalf of the
Radiocommunications Agency, Rothschilds, or any of its other advisors, as legal, tax or other advice.
Accordingly, cash recipient should consult its own professional advisors as to legal, tax and other matters concerning
any potential participation in the Auction or any allocation of UMTS Spectrum.
Working prototypes have already been developed by manufacturers
* Source: UMTS Forum, Technology Aspects Group
High substitution of mobile for fixed
Mobile Penetration (%)
Lower penetration and substitution less advanced
Source: FT Mobile Communications
Growth over last 12 months
Mobile Penetration (1st January 1998)
Source: FT Mobile Communications
The UK presents both fixed and mobile growth opportunities….
(% of population)
Fixed Penetration - (% of population)
Source: FT Mobile Communications , Public Network Europe 1998 Year Book