[ATTACH] I have included this snapshot of part of Macquarie...

I have included this snapshot of part of Macquarie research into worldwide telcos. As I mentioned in my prior posts, TPG has Free Mobile (Iliad France) as a model on what they can achieve in Singapore and Australia if they execute their plan properly.

Free Mobile has been super successful since they entered the cozy mobile market of France more than 5 years ago. They are now planning to replicate their success in Italy.

Unburdened by the various legacy systems and technology, Free Mobile claims that its operating costs will be much much lower than the incumbents. They are saying that their costs for managing their networks, systems, IT, will be approximately 1% of its sales revenue, compared to 5-8% of sales revenue of a typical carrier.

I am pretty sure that TPG management will be aiming to have their operating costs several percentage lower as well. They can achieve this by focusing on online and not so much on retail store network, just like the various MVNOs that have popped up in Singapore recently.