Telco Chatter: Jul 6: KPN CFO, CLNX ES towers, FR fair share, EU spectrum...

研报英文原文证据摘录

Telco Chatter: Jul 6: KPN CFO, CLNX ES towers, FR fair share, EU spectrum...

Akhil Dattani AC Europe Equity Research

(44-20) 7134-4725 06 July 2026 J P M O R G A N

akhil.dattani@jpmorgan.com

GSMA estimates that Euro Telcos could spend €104bn on spectrum between 2025 and

2035. It said Pierrakakis argued that a unified auction system could reduce fragmentation

created by differing national timelines, licence conditions and regulatory approaches, and

could help build a more integrated technology ecosystem. The report said larger member

states such as Germany could lose significant auction revenues under such a system.

Similar ideas have been discussed in Brussels for years, but resistance from large member

states has limited progress. The proposal suggests synchronising auctions across the EU and

directing a portion of proceeds into a fund to support 6G applications. (Source:

Handelsblatt)

Satellites – European deal to create SpaceX rival draws antitrust claims

Marco Fuchs, the CEO of OHB, said a proposed merger of the space businesses of Airbus,

Leonardo and Thales would weaken competition and raise costs for taxpayers by reducing

the number of suppliers for publicly funded space programmes, according to a FT report.

Fuchs said, “This is a consolidation that reduces competition,” and argued governments

would face fewer options in procurement for programmes supported by the European Space

Agency, the EC and national authorities. The three companies agreed in October to merge

their space units in a deal codenamed Bromo and are expected to seek antitrust clearance

from the EC. The companies argue greater scale is needed to remain competitive as US and

Chinese players expand. Fuchs disputed the rationale, saying SpaceX’s core competition is