Good call on framing these three as different jobs within the same sector rather than just lumping them together. So DTE is the anchor, Orange is the income play, and Vodafone works as the torque, right? Anyway, I learned about Vodafone’s leverge and execution risk. Thanks.
Love this perspective; it makes me wonder how the regulated environements mentioned might actually interplay with the exponential data growth for these European telecom giants.
Great point, and typically one would think that the regulated environment might cap exponential growth.
In this case, the regulatory environment in Europe actually supports exponential data growth, because pricing remains rational and competition is tightly managed so telcos like Orange and DTE get stable ARPU while traffic volumes climb. At the same time, EU-level policies force and often co-fund long-term fiber and 5G buildouts, giving operators visibility on capex and improving return profiles as data usage scales. So instead of regulation capping upside, it creates stability, while data growth expands the value of the underlying infrastructure.
Good call on framing these three as different jobs within the same sector rather than just lumping them together. So DTE is the anchor, Orange is the income play, and Vodafone works as the torque, right? Anyway, I learned about Vodafone’s leverge and execution risk. Thanks.
Love this perspective; it makes me wonder how the regulated environements mentioned might actually interplay with the exponential data growth for these European telecom giants.
Great point, and typically one would think that the regulated environment might cap exponential growth.
In this case, the regulatory environment in Europe actually supports exponential data growth, because pricing remains rational and competition is tightly managed so telcos like Orange and DTE get stable ARPU while traffic volumes climb. At the same time, EU-level policies force and often co-fund long-term fiber and 5G buildouts, giving operators visibility on capex and improving return profiles as data usage scales. So instead of regulation capping upside, it creates stability, while data growth expands the value of the underlying infrastructure.