RSCAS 2019/93 Ofcom's Record As a Competition Authority
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Annual Report 2017 Talktalk Telecom Group PLC Talktalk Is the UK’S Leading Value for Money Connectivity Provider
TalkTalk Telecom Group PLC Group Telecom TalkTalk Annual Report2017 2017 Annual Report 2017 TalkTalk Telecom Group PLC TalkTalk is the UK’s leading value for money connectivity provider� Our mission is to deliver simple, affordable, reliable and fair connectivity for everyone� Stay up to date at talktalkgroup.com Contents Strategic report Corporate governance Financial statements Highlights ������������������������������������������������������������������������ 01 Board of Directors and PLC Committee ������������� 32 Independent auditor’s report �������������������������������� 66 At a glance ���������������������������������������������������������������������� 02 Corporate governance ���������������������������������������������� 36 Consolidated income statement �������������������������� 73 Chairman’s introduction ������������������������������������������ 04 Audit Committee report ������������������������������������������� 41 Consolidated statement of comprehensive FY17 business review ������������������������������������������������� 05 Directors’ remuneration report ����������������������������� 44 income ���������������������������������������������������������������������������� 74 Business model and strategy ��������������������������������� 08 Directors’ report ���������������������������������������������������������� 63 Consolidated balance sheet ����������������������������������� 75 Measuring our performance ����������������������������������� 12 Directors’ responsibility statement ��������������������� 65 Consolidated -
Talktalk Telecom Group Limited Annual Report 2021 1 STRATEGIC REPORT Our Business Model
TalkTalk Telecom Group Limited 2021 Annual Report 2021 Annual Limited Group Telecom TalkTalk 2021 ANNUAL REPORT TalkTalk Telecom Group Limited (formerly TalkTalk Telecom Group PLC) At a glance Contents Strategic report IFC At a glance 2 Our business model 4 Our strategy 6 Key performance indicators 8 Business and financial review 13 Principal risks and uncertainties HQ 18 Section 172 Salford, Greater 24 Regulatory environment Manchester 26 Corporate social responsibility Corporate governance 30 Corporate governance 35 Audit Committee report 38 Directors’ remuneration report 53 Directors’ report 55 Directors’ responsibility statement 47,300 Financial statements Over 3,000 high-speed unbundled 56 Independent auditor’s report Ethernet 66 Consolidated income statement exchanges 67 Consolidated balance sheet connections 68 Consolidated cash flow statement 69 Consolidated statement of changes in equity 70 Notes to the consolidated financial statements 108 Company balance sheet 109 Company cash flow statement 110 Company statement of changes in equity 111 Notes to the Company financial statements Other information UK’s 116 Five year record (unaudited) 96% largest 117 Alternative performance measures population wholesale 118 Glossary coverage broadband 120 Registered office 120 Advisers provider Over 957 million GB average 4 million customer broadband downloads per customers month Stay up to date at www.talktalkgroup.com 2,019 2.8 million employees FTTC and FTTP (as at 28 customers February 2021) WHO WE ARE TalkTalk is the UK’s leading value for money connectivity provider. We believe that simple, affordable, reliable and fair connectivity should be available to everyone. Since entering the market in the early 2000s, we have a proud history as an innovative challenger brand ensuring customers benefit from more choice, affordable prices and better services. -
The Development of British Competition Law: a Complete Overhaul and Harmonization
A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Lever, Jeremy Working Paper The development of British competition law: a complete overhaul and harmonization WZB Discussion Paper, No. FS IV 99-4 Provided in Cooperation with: WZB Berlin Social Science Center Suggested Citation: Lever, Jeremy (1999) : The development of British competition law: a complete overhaul and harmonization, WZB Discussion Paper, No. FS IV 99-4, Wissenschaftszentrum Berlin für Sozialforschung (WZB), Berlin This Version is available at: http://hdl.handle.net/10419/51159 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte. may exercise further usage rights as specified in the indicated licence. www.econstor.eu discussion papers FS IV 99 - 4 The Development of British Competition Law: A Complete Overhaul and Harmonization Jeremy Lever March 1999 ISSN Nr. -
1152/8/3/10 (IR) British Sky Broadcasting Limited
Neutral citation [2014] CAT 17 IN THE COMPETITION Case Number: 1152/8/3/10 APPEAL TRIBUNAL (IR) Victoria House Bloomsbury Place 5 November 2014 London WC1A 2EB Before: THE HONOURABLE MR JUSTICE ROTH (President) Sitting as a Tribunal in England and Wales B E T W E E N : BRITISH SKY BROADCASTING LIMITED Applicant -v- OFFICE OF COMMUNICATIONS Respondent - and - BRITISH TELECOMMUNICATIONS PLC VIRGIN MEDIA, INC. THE FOOTBALL ASSOCIATION PREMIER LEAGUE LIMITED TOP-UP TV EUROPE LIMITED EE LIMITED Interveners Heard in Victoria House on 23rd July 2014 _____________________________________________________________________ JUDGMENT (Application to Vary Interim Order) _____________________________________________________________________ APPEARANCES Mr. James Flynn QC, Mr. Meredith Pickford and Mr. David Scannell (instructed by Herbert Smith Freehills LLP) appeared for British Sky Broadcasting Limited. Mr. Mark Howard QC, Mr. Gerry Facenna and Miss Sarah Ford (instructed by BT Legal) appeared for British Telecommunications PLC. Mr. Josh Holmes (instructed by the Office of Communications) appeared for the Respondent. EE Limited made written submissions by letter dated 9 May 2014 but did not seek to make oral representations at the hearing. Note: Excisions in this judgment (marked “[…][ ]”) relate to commercially confidential information: Schedule 4, paragraph 1 to the Enterprise Act 2002. 2 INTRODUCTION 1. On 31 March 2010, the Office of Communications (“Ofcom”) published its “Pay TV Statement.” By the Pay TV Statement, Ofcom decided to vary, pursuant to s. 316 of the Communications Act 2003 (“the 2003 Act”), the conditions in the broadcasting licences of British Sky Broadcasting Ltd (“Sky”) for what have been referred to as its “core premium sports channels” (or “CPSCs”), Sky Sports 1 and Sky Sports 2 (“SS1&2”). -
Managing the Effects of 700Mhz Clearance on PMSE and DTT Viewers”
YouView British Telecommunications TalkTalk Group Ofcom call for inputs: “Managing the effects of 700MHz clearance on PMSE and DTT viewers” YouView, BT and TalkTalk are aligned in the responses to this call for input. Minimising disruption to existing DTT consumption, and avoiding a sense of panic at the potential loss of DTT channels – and therefore DTT platform churn - through clear communication and structured consumer support is vital in making the 700MHz clearance a success for DTT consumers. We feel a well-funded information and financial support scheme for 700MHz clearance could minimise platform churn, and ensure homes continue to benefit from free to air DTT reception. Managing expectations in a clear, concise and repeatable manner; supporting consumers end to end, financial support, and minimising disruption should be the goals of the clearance programme. We regard clearance and coexistence as different phases of the same 700MHz programme. We recommend a coordinated approach across the two phases to ensure the both are handled in the same open, informative manner with visible trials and rollout plans, allowing proactive consumer support preparation and seamless communication. 1 YouView British Telecommunications TalkTalk Group Question 1: Do you agree with our assessment of the number of viewers that will need to retune? We believe the assessment is closer to 20 million within the 14-20 million range given: a) The number of DTT television sets and set-to-boxes in each UK home serving as primary, secondary, or even tertiary units. -
DTI Test.Qxp
Agenda Advancing economics in business Competition as a public policy tool: what is the evidence? A key priority for the government is to increase UK productivity by extending competitive markets. Competition helps drive productivity by acting as a spur to managerial incentives and productive efficiency through ‘natural selection’ of firm entry and exit, and by promoting incentives to innovate. However, as Andrew Rees, Director, Analysis and Research, Consumer and Competition Policy, DTI, and Sasha Maguire, Economist, DTI, explain, recent evidence on these effects is perhaps less well known The UK’s competition framework is generally rated As competition can drive 1 among the best in the world by independent surveys. innovation, so can innovation and The Department of Trade and Industry (DTI) is technological advances boost responsible for setting the legislative and regulatory competitive pressure, as has been parameters, with enforcement conducted by two the case in the telecommunications independent competition authorities: the Office of Fair sector Trading (OFT) and the Competition Commission. They are responsible for enforcing the provisions of the UK’s Product markets competition legislation—the Competition Act 1998 and the Enterprise Act 2002—which are intended to promote The UEA study took six markets for case study a pro-competitive climate, and to increase transparency investigation. The case studies were selected where it and independence in competition decisions.2 was thought there would be benefits resulting from interventions by the government or the competition Use of competition as a policy tool is promoted across authorities to enhance competition in those markets and government by a Competition Forum. -
A Competition Regime for Growth: a Consultation on Options for Reform
A COMPETITION REGIME FOR GROWTH: A CONSULTATION ON OPTIONS FOR REFORM MARCH 2011 Explanation of the wider context for the consultation and what it seeks to achieve The Government’s overarching objective in reforming the UK’s, already world class, competition regime is to maximise the ability of the competition authorities to secure vibrant, competitive markets, in the interests of consumers and to promote productivity, innovation and economic growth. The Government is therefore consulting on changes to: o improve the robustness of decisions and strengthen the regime – enhancing the regime’s ability to resolve and deter the competition restrictions that do most harm to competition, consumers and to economic growth o support the competition authorities in taking forward high impact cases - developing the regime’s ability to target the competition restrictions that do most harm to competition, consumers and to economic growth, and providing the regime with the tools and flexibility to make proportionate and focused interventions o improve speed and predictability for business – building on the regime’s ability to take the timely, proportionate and predictable actions that limit burdens on business and that provide for the certainty that enables business to invest and innovate with confidence In this connection, the Government is consulting on a proposal to merge the competition functions of the Office of Fair Trading and the Competition Commission to create a single Competition and Markets Authority which can play a leading role in achieving the overarching objectives and delivering the desired outcomes. Issued Date: 16 March 2011 Respond by Date: 13 June 2011 Enquiries to Duncan Lawson Department for Business Innovation and Skills 3rd Floor, Orchard 2 1 Victoria Street Westminster London SW1H 0ET Tel: 0207 215 5465 E-mail: [email protected] Fax: 0207 215 0480 This consultation is relevant to: Businesses of all size, economic regulatory bodies, consumer organizations, legal bodies, economic consultants and academics. -
UK CMR Charts
Figure 1.1 Communications industry revenue – telecoms, TV, radio, post £billions Annual 5 year 80 change CAGR 61.1 61.6 60.2 59.8 59.6 59.5 Total -0.2% -0.5% 60 6.8 6.8 6.7 6.5 6.7 7.2 1.2 1.1 1.1 1.1 1.2 1.2 Post 7.0% 0.9% 11.0 11.2 11.1 11.7 12.2 12.3 40 Radio 2.7% 0.3% TV 0.8% 2.2% 20 42.1 42.5 41.3 40.4 39.5 38.8 Telecoms -1.8% -1.6% 0 2007 2008 2009 2010 2011 2012 Source: Ofcom/ operators Note: Includes licence fee allocation for radio and TV, Figures are in nominal terms 0 Figure 1.2 Digital communications service availability UK UK Platform UK 2012 England Scotland Wales N Ireland 2011 change Fixed line 100% 100% 0pp 100% 100% 100% 100% 2G mobile1 99.6% 99.7% -0.1pp 99.8% 99.3% 98.8% 98.5% 3G mobile2 99.1% 99.1% 0pp 99.5% 96.6% 97.7% 97.4% Virgin Media cable broadband3 48% - - 51% 38% 22% 28% LLU ADSL broadband4 94% 92% +3pp 95% 87% 92% 85% BT Openreach / Kcom fibre b’band5 56% n/a n/a 59% 25% 41% 93% NGA broadband6 73% 65% +8pp 76% 52% 48% 95% Digital satellite TV 98% 98% 0pp - - - - Digital terrestrial TV7 99% - - 99% 99% 98% 97% DAB BBC Network88 94.3% 92% +2.3pp 95.5% 90.9% 85.9% 85.4% DAB commercial network (Digital 85% 85% 0pp 90% 75% 60% - One)9 Sources: Ofcom and operators: 1. -
Metrics for the UK Independent Network Sector
Metrics for the UK independent network sector Including results from Spring 2020 survey April 2020 1.0 A Point Topic report for INCA Point Topic Ltd Innovation Warehouse 1 East Poultry Avenue London EC1A 9PT Tel: +44 (0)20 3301 3303 [email protected] [email protected] 2 1. Summary ................................................................................................................... 3 2. Introduction............................................................................................................... 4 3. Key metrics ................................................................................................................ 6 4. Assessing scale and ambitions of the independent network sector ............................. 7 5. Independent network sector coverage mapping ....................................................... 12 6. Independent network sector investment .................................................................. 18 7. Independent network sector concerns ...................................................................... 20 8. Appendix A .............................................................................................................. 22 Effect of COVID-19 pandemic on report projections The INCA survey, as well as other research for this report, was undertaken before the COVID-19 pandemic really took hold. Operators are working hard to run their businesses as close to usual as possible but there are significant concerns about the impact on maintaining -
Talktalk Group Financial Performance
Directors’ Report – Business Review TalkTalk Group Financial Performance ▪ Revenue down 3% to £1,385m, reflecting a growing broadband base offset by declines in our narrowband and voice-only bases ▪ Headline EBITDA up 56% to £181m, driven by the increasing proportion of on-net customers ▪ Headline EBIT up 80% to £124m, reflecting EBITDA growth partially offset by higher depreciation and amortisation charges ▪ Capex of £106m, down 38% year-on-year after the substantial completion of our network build-out Operational Highlights ▪ Completed integration of AOL broadband business ▪ Continued migration of customers onto our own network, with 78% of all broadband customers now on-net ▪ 186,000 broadband net adds, before 93,000 AOL base TalkTalk clean-up, taking the total base to 2.8m ▪ Broadband monthly ARPU up 3% to £22.65 Group ▪ Major improvements in customer service, resulting in reduced churn and much more positive customer TalkTalk Group is our UK fixed line telecoms division, perception serving over 3.9m fixed line customers comprising 2.8m broadband and 1.1m voice-only and narrowband customers. It is currently the number 3 player in the UK broadband market, with by far the most extensive unbundled network in the UK, which supports a low-cost operating model that enables strong profitability even on market-leading tariffs. Its B2B operation, branded Opal, is a major player in the small business market. Over the last 12 months we have successfully completed the integration of the AOL broadband business and continued to grow the business organically. The bulk of our network investment is now complete and the business is set to be strongly cash generative going forward. -
The UK Competition Regime
Report by the Comptroller and Auditor General UK competition authorities The UK competition regime HC 737 SESSION 2015-16 5 FEBRUARY 2016 Our vision is to help the nation spend wisely. Our public audit perspective helps Parliament hold government to account and improve public services. The National Audit Office scrutinises public spending for Parliament and is independent of government. The Comptroller and Auditor General (C&AG), Sir Amyas Morse KCB, is an Officer of the House of Commons and leads the NAO, which employs some 810 people. The C&AG certifies the accounts of all government departments and many other public sector bodies. He has statutory authority to examine and report to Parliament on whether departments and the bodies they fund have used their resources efficiently, effectively, and with economy. Our studies evaluate the value for money of public spending, nationally and locally. Our recommendations and reports on good practice help government improve public services, and our work led to audited savings of £1.15 billion in 2014. UK competition authorities The UK competition regime Report by the Comptroller and Auditor General Ordered by the House of Commons to be printed on 4 February 2016 This report has been prepared under Section 6 of the National Audit Act 1983 for presentation to the House of Commons in accordance with Section 9 of the Act Sir Amyas Morse KCB Comptroller and Auditor General National Audit Office 3 February 2016 HC 737 | £10.00 This report examines the UK competition regime since our report in 2010 and in the light of the government’s reforms to the regime in 2013. -
State Owned Enterprises and the Principle of Competitive Neutrality 2009
State Owned Enterprises and the Principle of Competitive Neutrality 2009 The OECD Competition Committee debated the application of competition rules to state owned enterprises and the principle of competitive neutrality in October 2009. This document includes an executive summary, a background note and an issues paper by Mr. Antonio Capobianco for the OECD and country contributions from Brazil, Canada, Chile, China, Czech Republic, European Commission, Finland, France, Germany, Greece, India, Indonesia, Korea, Lithuania, Netherlands, Norway, Poland, Romania, Russia, Spain, Sweden, Switzerland, Chinese Taipei, Turkey, United Kingdom, United States and BIAC, as well as two aides memoires for the discussions. Due to their privileged position SOEs may negatively affect competition and it is therefore important to ensure that, to the greatest extent possible consistent with their public service responsibilities, they are subject to similar competition disciplines as private enterprises. Although enforcing competition rules against SOEs presents enforcers with particular challenges, competition rules should, and generally do, apply to both private and state-owned enterprises, subject to very limited exceptions. Competition law alone is not sufficient in ensuring a level playing field for SOEs and private enterprises, which is why policies aimed at achieving competitive neutrality between the two play an essential role. Competitive neutrality can be understood as a regulatory framework (i) within which public and private enterprises face the same set of rules and (ii) where no contact with the state brings competitive advantage to any market participant. Presence of competitive neutrality policies is of particular importance in recently liberalised sectors, where they play a crucial role in leveling the playing field between former state monopoly incumbents and private entrants.