What is the right regulatory framework to incentivise investment in VHCNs: risk premium/fair bet & co-investment?
At least €500 billion of investment will be required to achieve the European target of 100% coverage of gigabit capable networks by 2025, most of which will come from the private sector. In support of this, the European Commission has approved the European Electronic Communications Code (EECC) with various supporting measures to assist the industry investment efforts. With Governments around Europe working on transposing the EECC into national law by the end of this year, this event brought together policy makers, regulators, telco operators and practitioners to discuss the challenges that lie ahead and debate these and other questions:
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Summary report of the IIC Chapter Europe Incentivizing Investment WebinarDownload
This webinar provided the opportunity for an interactive discussion between panellists followed by Q&A from the audience. The full session can be seen hereDownload
Emily Clark has been the Chief Economist of BT Group since 2016, and prior to this she worked at a City law firm and in economic consultancy.
Ms clark focuses on the economics relevant to competition policy and regulatory matters as well as business strategy, and has worked for clients in a range of sectors including energy, financial services and communications.
At BT, Ms Clark leads BT’s economic thinking and analytical work in business strategy as well as legal and regulatory contexts.
Felipe Flórez Duncan heads the Communications team at Oxera, working across the telecommunications, media and digital (technology) sectors. He has extensive experience in the application of competition and regulatory economics, including in abuse of dominance cases, vertical agreements, mergers, and regulatory policy and strategy.
In the telecoms sector, he has advised on a wide range of issues including market reviews, pricing of fibre networks, margin squeeze assessments, bundling, functional separation, and spectrum liberalisation and trading, as well as acting as economic expert during merger reviews in fixed, mobile and content markets. His clients include major operators such as BT Group, Openreach, Liberty Global and Vodafone, as well as regulators such as ComReg and the Regulatory Authority of Bermuda.
In the media sector, Mr Flórez Duncan has advised clients including the Motion Picture Association, Warner Bros., Liberty Global and Telefónica on issues such as joint selling agreements, passive sale restrictions, copyright policy, and horizontal and vertical mergers involving platforms, networks and content.
In the digital sector, his work focuses on the convergence between new and traditional business models brought about by the Internet, examining the implications for policy, regulation and strategy.
Mr Flórez Duncan is also a seasoned economic expert, having provided expert witness testimony in regulatory, competition and damages cases before UK and European courts.
Francesco Liberatore advises clients on all aspects of the application of communications and competition law.
On the behavioural side, Mr Liberatore’s practice includes bringing and defending all types of regulatory and competition disputes before Ofcom, the Competition and Markets Authority and the European Commission, as well as managing internal investigations, dawn raids, and counselling on compliance issues and various commercial agreements. On the transactional side, Mr Liberatore handles UK and EU merger control due diligence and filings, as well as coordinating multijurisdictional merger control strategies. He also advises private equity investors, banks, and other financial investors on arbitrage opportunities.
Mr Liberatore’s litigation experience includes representing clients in matters before the Competition Appeal Tribunal, the High Court of Justice and the European Courts.
He has authored several legal publications, including the UK Chapter of the International Telecommunications Law handbook (Juris Publishing).
Mr Liberatore has been listed as a leading practitioner in Chambers UK, Chambers Global, The Legal 500 UK and Who’s Who Legal. He is a guest lecturer at King’s College London and a member of Justice.
Luigi Minerva is a Senior Equity Analyst in the HSBC Communications and Digital Infrastructure research team where he covers some of the main European telecoms markets and leads the coverage on European infrastructure, in particular telecoms towers. The award winning team has been consistently highly ranked with institutional investors and specialises in thematic research analysing the key regulatory, technological and strategic developments.
Mr Minerva holds a Masters in Finance from the London Business School.
Mark Williams is an economist with 20 years’ experience in the economics, regulation and strategy of the telecoms, media and technology (TMT) sector. This has covered a range of areas including competition policy, litigation, spectrum and business strategy. Most of this experience has been gained as a consultant economist working in the TMT practices of leading economic consulting firms – NERA, Frontier Economics and Deloitte. He also spent six years as a senior economist in the Global ICT team of the World Bank in Washington DC before joining Berkeley Research Group (BRG) in 2016 to lead the TMT practice. Throughout his career, Mr Williams has advised companies, governments and regulatory authorities in the UK and overseas. He has written extensively on the subject of ICT policy and regulation including two books on telecommunications infrastructure and policy.
Tiziana Talevi is Regulatory Affairs Officer for Fastweb, a leading NGA and mobile operator in Italy. Her Main focus is on regulatory policy and economic analysis.
Ms Talevi has over 20 year experience in the telecoms sector working for Telecom Italia, Infostrada, the National Regulatory Authority AGCOM and Telecom Italia.
Jeremy Godfrey joined the Commission for Communications Regulation (ComReg) as Commissioner in 2013 and was Chairperson of the Commission from February 2015 to February 2017. He was Chair of the Body of European Regulators for Electronic Communications (BEREC) for 2019, and Vice-Chair for 2020.
Mr Godfrey has almost thirty years’ experience in the ICT sector, as an industry executive, business consultant and Government official.
Prior to joining ComReg, he was Government Chief Information Officer in Hong Kong. In this role, he had responsibility both for Government IT and for IT-policy issues such as digital inclusion, internet governance and the promotion of inward investment in the IT sector.
Mr Godfrey began his career in the UK’s Department of Trade and Industry, serving as private secretary to the Cabinet Minister as well as in a variety of other roles. He then spent ten years in the Cable & Wireless Group, in Hong Kong and in the UK, mainly in strategy, marketing and regulatory roles – including Director of Strategy and Director of Marketing for Hong Kong Telecom.
Between 1998 and 2008, Mr Godfrey worked for PA Consulting Group where he was a partner in the Hong Kong office, serving clients in the communications, transportation, financial services and government sectors. Projects that he led included major change initiatives, business start-up projects, and due diligence assignments. He worked in around a dozen markets in Asia and the Pacific.
Mr Godfrey has a Master of Arts from Cambridge University, where he studied mathematics.
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