Good overview.
I agree with your assessment and one further analyst that operating results will be less important this quarter, and everyone will be focused on the large structural changes that come with 1&1 own network and the frequency allocations.
A few more questions about that topic:
Which media reports indicate low-band frequencies might go to the old telco providers?
Did any of 1&1’s German competitors report their numbers already, and if yes, are there further insights into frequency band allocations?
Are the comments you linked about higher network/roaming costs made in comparison of 1&1 operating it’s own network, or would roaming costs also be higher than they are right now and hurt current margins?