guess the dividend, page-8

I guess the NZ market is different in that SKT have enough scale in media to make a wholesale deal worthwhile to a telco whilst being on terms that are attractive to SKT.

For now.

My concern is that we don't really know how the technological landscape will play out. A JV where both parties have an equal stake will ensure that both parties navigate the coming technological landscape (fixed-mobile convergence) to suit both parties, and both parties bring their respective strengths. Who knows if tomorrow the telco with the fixed-mobile infrastructure (and client base) will have the upper hand over the media player - and who will have the upper hand in any wholesale deals.