What's it worth?

[3g-g]

HTL is in the process of sorting out the float of it's 3G operations in both the UK and Italy. At the moment in Italy they're trying to decide the value of the company. It's being suggested that it could be worth as much as Wind, which was sold last month for €12Bn and was around for a substantialy longer period of time! Fairly understandable that HTL want it to worth as much as possible.

But what about here? What do you think 3UK is worth? What would you pay?

Take into consideration: no open internet access, so very few high paying corp customers (if any), limited handset range, very high churn, and a extremely smaller customer base compared with the other 4. However, if reports are to be believed, the highest ARPU in the UK.

[Ben]

Hmm.

Has anyone else noticed that Three masts often tend to be a single pole? Sometimes it's more like a stick held up by some guide ropes! This can't bode well for the future...

They also have the majority of their CS outsourced already meaning I wouldn't have that avenue if I needed to cut costs in the future.

They do have a quite 3G-educated userbase, so I'd be able to launch my own innovative services to a userbase that is quite likely to be able to use them.

I'd also be able to charge what I liked, within reason, for people to be able to pitch their content to my enclosed intranet area.

I don't think Three UK is worth the cost of the license - which is essentially their biggest asset. I think it's far too early for them to be worth anything yet... 3G still hasn't proven itself, so I wouldn't be willing to pile money into a 3G network. It's more than a gamble, it's a pretty big risk.