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30th June 2020

IIC Europe Chapter Webinar: Incentivising Investment

Chapter event, Virtual Event

Hosted by  IIC Brussels Chapter 

Tuesday, 30 June 2020
1300 CEST / 0700 EDT / 1200 BST / 1900 HKT /
2100 AEST
Duration: 1.5 hours

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:

  • What are the financial markets’ perspective on co-investment and network sharing?
  • What are the new provisions in the EECC aimed at helping meet these ambitious targets (co-investment, pricing freedoms for wholesale-only models, fair returns taking account of risk)?
  • What can or should regulators do differently in order put into practice the EECC’s new tools in support of the European Commission’s targets?
  • Is it time for a refresh of the 2010 and 2013 NGA and Costing methodologies guidelines?
  • What are the competition law implications of co-investment and network sharing?

Report coming soon.


Summary report of the IIC Chapter Europe Incentivizing Investment Webinar


Recording of UK Chapter webinar

This webinar provided the opportunity for an interactive discussion between panellists followed by Q&A from the audience. The full session can be seen here

Emily Clark Chief Economist, BT

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 Partner, Oxera Consulting LLP

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 Partner, Squire Patton Boggs (UK) LLP; Former Chair, IIC Brussels Chapter

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 Senior Telecoms Analyst, Equity Research, HSBC

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 Practice Manager, Global Knowledge and Expertise for Digital Development, The World Bank

Mark Williams is a Practice Manager in the Digital Development Global Practice of the World Bank. His responsibilities include Global Knowledge and Expertise and the East Asia and Pacific Region. He is an economist with over 20 years of experience in the economics, regulation, and strategy of the digital sector, covering a range of specialist areas including strategy, policy, regulation, cybersecurity, financial analysis corporate restructuring, and litigation.

In addition to the World Bank, Mr Williams has worked in some of the world’s leading economic consulting firms – NERA, Frontier Economics, Deloitte, and Berkeley Research Group (BRG).

Tiziana Talevi Regulatory Affairs Officer, Fastweb

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 Executive Chairperson, Coimisiún na Meán

Jeremy Godfrey has over 30 years of regulatory, government and business experience in the communications, technology and online sectors, in Ireland and Hong Kong.

Mr Godfrey was previously Chairperson of the Competition and Consumer Protection Commission (CCPC). He served eight years as a Commissioner and Chairperson of the Commission for Communications Regulation (ComReg). During that time, he also served as Chair and vice-Chair of BEREC, the coordinating body for EU telecoms regulators. In Hong Kong, he served as Government Chief Information Officer, as a management consultant and as a senior executive in the telecommunications sector.

Mr Godfrey has been involved in regulatory developments such as the EU’s Digital Services Act, the Digital Markets Act, and the Open Internet Regulation. As Hong Kong Government CIO, he had responsibility for the e-government programme and cloud computing strategy, as well as for Internet governance, digital inclusion and promoting online safety. As a consultant, he advised clients about online business strategies and on regulatory issues in the communications, energy, transportation and financial services sectors. While in the telecommunications industry he was involved in the launch of the world’s first commercial online video-on-demand service as well as in many regulatory issues.

Mr Godfrey started his career as a civil servant in the UK government. He holds an MA from Cambridge University, where he studied mathematics

Event details
30th June 2020
Online Meeting

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