SpaceX 入局美国移动市场，德国电信 CEO：严阵以待

Elon Musk cast a long shadow over T-Mobile's German parent Deutsche Telekom's third-quarter results, as CEO Tim H?ttges contends with facing SpaceX as a new US mobile competitor in his biggest revenue market. "We are taking this upcoming competition very seriously because we are assuming that it's coming ... and they will enter the market with a different business model," said H?ttges speaking to journalists (via a translator) during today's press conference for Q3 results. "When you look at the multiples of Verizon, AT&T, and Telekom, and how much these companies have lost over the past six months," he said, the market is expecting that "these three competitors will generate fewer returns. ... [A] new market entrant can gain market share in this environment, and that may also lead to more price pressure." The US (T-Mobile) accounted for 65.7% of Deutsche Telekom's ?31.1 billion (US$34.9 billion) net revenue in Q3, dwarfing the revenue contribution from its German home market, which was ?6.6 billion ($7.7 billion). The US also contributed ?8.1 billion ($9.1 billion) of the group's total ?12.2 billion ($13.7 billion) adjusted EBITDA AL (earnings before interest, tax, depreciation and amortization after leases). "The question really is, what's better for SpaceX? Satellite alone isn't enough, you always need terrestrial coverage. … Is it better to buy a company for that or build it up from scratch? There are three listed companies, and [Musk] will have to make up his mind what he wants to do," he said. DT net revenue increased 7.5% to ?31.1 billion ($34.9 billion) in Q3, while service revenue rose 6.1% to ?26 billion ($29.2 billion). In Germany, 3.1% revenue growth in the quarter was due to higher mobile and fixed-network service revenue. In response to Q3 performance, DT raised full-year guidance for adjusted EBITDA AL from ?47.5 billion ($53.3 billion) to ?47.6 billion ($53.4 billion). Free cash flow after leases is also notched up from ?20 billion ($22.4 billion) to ?20.1 billion ($22.5 billion). It also plans a 10% dividend payment increase, compared to 2025, to ?1.01 ($1.13) per share, and to buy back up to ?2 billion ($2.24 billion) shares in 2027. Her first job was with Global Telephony magazine in Chicago, where she got an intro to publishing and tech reporting. After moving to the UK in 1999, she has covered telecoms tech, business and policy issues at publications including Communications Week International and Total Telecom. She was also part of Light Reading’s European editorial team from 2007 to 2013. Between stints at Light Reading, she was busy freelancing and was a regular contributor to Mobile Europe, Mobile World Live, TelcoTitans, TM Forum, and more.