Tom Rebbeck
@tomrebbeck.bsky.social
Partner, Analysys Mason, focused on telecoms services.
Interesting that KORE is trading at about $4.15, despite an offer of $5 per share from Searchlight and Abry. What am I missing here? Sounds like a lot of people not convinced it will happen. ir.korewireless.com/news-events/...
December 1, 2025 at 2:09 PM
Interesting that KORE is trading at about $4.15, despite an offer of $5 per share from Searchlight and Abry. What am I missing here? Sounds like a lot of people not convinced it will happen. ir.korewireless.com/news-events/...
Just arrived. Looking forward to reading this one.
November 4, 2025 at 10:59 AM
Just arrived. Looking forward to reading this one.
The smartphone takes another victim
October 17, 2025 at 4:28 PM
The smartphone takes another victim
Analysys Mason is moving offices, so time to bid farewell to Bush House, with its lovely (and comms related) details - the old phone box with instructions on how to make a call ('listen for the continuous purring') and a post box split by London & Abroad and Country Letters.
October 9, 2025 at 2:41 PM
Analysys Mason is moving offices, so time to bid farewell to Bush House, with its lovely (and comms related) details - the old phone box with instructions on how to make a call ('listen for the continuous purring') and a post box split by London & Abroad and Country Letters.
Not sure how I feel about this AI customer service. I made a complaint and got this instant reply - I was impressed until I realised it was AI. I don't think this helps at all actually, possibly makes things worse.
October 9, 2025 at 2:01 PM
Not sure how I feel about this AI customer service. I made a complaint and got this instant reply - I was impressed until I realised it was AI. I don't think this helps at all actually, possibly makes things worse.
Strong Clippy vibes from Microsoft's offer of 'help' when I'm in PowerPoint.
October 3, 2025 at 10:52 AM
Strong Clippy vibes from Microsoft's offer of 'help' when I'm in PowerPoint.
Interestingly, EE recommends a non-smart phone for kids under 11, but doesn't sell any non-smart phones.
Its new Safer SIM, designed for kids, comes with unlimited data. The Safer SIM does look like a good idea, but not fully thought through.
Its new Safer SIM, designed for kids, comes with unlimited data. The Safer SIM does look like a good idea, but not fully thought through.
August 28, 2025 at 3:57 PM
Interestingly, EE recommends a non-smart phone for kids under 11, but doesn't sell any non-smart phones.
Its new Safer SIM, designed for kids, comes with unlimited data. The Safer SIM does look like a good idea, but not fully thought through.
Its new Safer SIM, designed for kids, comes with unlimited data. The Safer SIM does look like a good idea, but not fully thought through.
Big jump in Aussie Broadband's share price after a good set of results.
August 27, 2025 at 7:36 AM
Big jump in Aussie Broadband's share price after a good set of results.
AT&T reportedly looking to exit Mexico. Its market share is gradually falling, though the MVNOs (hosted on ALTAN Redes) are doing well.
August 12, 2025 at 12:42 PM
AT&T reportedly looking to exit Mexico. Its market share is gradually falling, though the MVNOs (hosted on ALTAN Redes) are doing well.
Mobile consolidation in Singapore with M1's shareholder selling out to SIMBA.
SIMBA has been rapidly gaining market share, largely at the expense of M1.
www.keppel.com/media/keppel...
SIMBA has been rapidly gaining market share, largely at the expense of M1.
www.keppel.com/media/keppel...
August 11, 2025 at 1:51 PM
Mobile consolidation in Singapore with M1's shareholder selling out to SIMBA.
SIMBA has been rapidly gaining market share, largely at the expense of M1.
www.keppel.com/media/keppel...
SIMBA has been rapidly gaining market share, largely at the expense of M1.
www.keppel.com/media/keppel...
The picture for North American telecom shares is more mixed than for Euro operators (who are doing well). AT&T, T-Mobile & Verizon did well in 2024 & continue to do so. US cable operators are doing poorly. Big Canadian operators all fell significantly during 2024, but are performing better in 2025.
August 7, 2025 at 7:52 PM
The picture for North American telecom shares is more mixed than for Euro operators (who are doing well). AT&T, T-Mobile & Verizon did well in 2024 & continue to do so. US cable operators are doing poorly. Big Canadian operators all fell significantly during 2024, but are performing better in 2025.
The dangers of IoT. From the FT's comments.
July 28, 2025 at 8:53 PM
The dangers of IoT. From the FT's comments.
To put it another way:
June 9, 2025 at 10:47 AM
To put it another way:
Telstra's investor days give a sense of its, and the telco sector's, changing priorities.
In 2021, 5G, fibre and cloud were the key topics. AI and APIs were hardly mentioned.
In 2025, AI and APIs are the biggest topics. Fibre and 5G have slipped in importance. IoT doesn't even get a mention.
In 2021, 5G, fibre and cloud were the key topics. AI and APIs were hardly mentioned.
In 2025, AI and APIs are the biggest topics. Fibre and 5G have slipped in importance. IoT doesn't even get a mention.
June 6, 2025 at 1:16 PM
Telstra's investor days give a sense of its, and the telco sector's, changing priorities.
In 2021, 5G, fibre and cloud were the key topics. AI and APIs were hardly mentioned.
In 2025, AI and APIs are the biggest topics. Fibre and 5G have slipped in importance. IoT doesn't even get a mention.
In 2021, 5G, fibre and cloud were the key topics. AI and APIs were hardly mentioned.
In 2025, AI and APIs are the biggest topics. Fibre and 5G have slipped in importance. IoT doesn't even get a mention.
The share price of the largest European operators is up a lot since the start of the year. For most operators, share prices were essentially flat during 2024, so this is definite improvement.
June 4, 2025 at 11:01 AM
The share price of the largest European operators is up a lot since the start of the year. For most operators, share prices were essentially flat during 2024, so this is definite improvement.
Problems at Talk Talk. Lost 400k customers last year and reportedly late paying suppliers. Quite the plunge in its bond price as a result.
on.ft.com/3FDiqo8
on.ft.com/3FDiqo8
June 3, 2025 at 8:51 AM
Problems at Talk Talk. Lost 400k customers last year and reportedly late paying suppliers. Quite the plunge in its bond price as a result.
on.ft.com/3FDiqo8
on.ft.com/3FDiqo8
Nvidia's growth continues to amaze me. Up another $5bn in the last quarter. But data centre revenue 'only' grew by $3.5bn, less than 10% up on previous quarter (average quarterly growth was 23% for the past two years), so perhaps slowing down a bit.
May 29, 2025 at 10:34 AM
Nvidia's growth continues to amaze me. Up another $5bn in the last quarter. But data centre revenue 'only' grew by $3.5bn, less than 10% up on previous quarter (average quarterly growth was 23% for the past two years), so perhaps slowing down a bit.
The cable discount. Fibre operators are typically priced at USD4-6k per premise passed. Charter paid around USD2.8k.
www.analysysmason.com/research/con...
www.analysysmason.com/research/con...
May 22, 2025 at 2:25 PM
The cable discount. Fibre operators are typically priced at USD4-6k per premise passed. Charter paid around USD2.8k.
www.analysysmason.com/research/con...
www.analysysmason.com/research/con...
Another strong quarter for DIGI in Spain - now over 2 million fibre customers, growing at ~150k a quarter (compared to ~30k for Telefonica).
May 15, 2025 at 9:56 AM
Another strong quarter for DIGI in Spain - now over 2 million fibre customers, growing at ~150k a quarter (compared to ~30k for Telefonica).
Work to be done to reverse the fall in revenue. Fixed revenue in long-term decline (but impact of legacy migration has to bottom out at some point, I'd have thought).
May 14, 2025 at 3:36 PM
Work to be done to reverse the fall in revenue. Fixed revenue in long-term decline (but impact of legacy migration has to bottom out at some point, I'd have thought).
Revolut Mobile launching with unlimited data for £12.50 a month (for Revolut customers), plus EU - and US - data roaming (20GB). Much cheaper than other unlimited plans
May 2, 2025 at 11:47 AM
Revolut Mobile launching with unlimited data for £12.50 a month (for Revolut customers), plus EU - and US - data roaming (20GB). Much cheaper than other unlimited plans
April 28, 2025 at 10:57 AM
Not very scientific extrapolation of Ofcom data suggests fibre would have to be available for 15 years before take up exceeds 80%. (Obvs this isn't what will happen for all sorts of reasons - not least forced migrations when legacy networks are closed.)
March 21, 2025 at 4:05 PM
Not very scientific extrapolation of Ofcom data suggests fibre would have to be available for 15 years before take up exceeds 80%. (Obvs this isn't what will happen for all sorts of reasons - not least forced migrations when legacy networks are closed.)
Interesting titbit from Ofcom's consultation on fibre networks. 4+ years before fibre take up exceeds 50%.
March 21, 2025 at 9:53 AM
Interesting titbit from Ofcom's consultation on fibre networks. 4+ years before fibre take up exceeds 50%.
Teenagers reading far less now than 20 years ago, and scores for reading, science and maths all down.
"For too many of us the digital environment is hampering the [execution of our potential]".
Interesting, if a bit depressing, piece from @jburnmurdoch.ft.com
on.ft.com/3FwfKbt
"For too many of us the digital environment is hampering the [execution of our potential]".
Interesting, if a bit depressing, piece from @jburnmurdoch.ft.com
on.ft.com/3FwfKbt
March 14, 2025 at 11:14 AM
Teenagers reading far less now than 20 years ago, and scores for reading, science and maths all down.
"For too many of us the digital environment is hampering the [execution of our potential]".
Interesting, if a bit depressing, piece from @jburnmurdoch.ft.com
on.ft.com/3FwfKbt
"For too many of us the digital environment is hampering the [execution of our potential]".
Interesting, if a bit depressing, piece from @jburnmurdoch.ft.com
on.ft.com/3FwfKbt