TPSA announced yesterday that it has reached an agreement with Tele2 to allow subscribers to switch operators from January 9, 2007. Subscribers can apply to change their operator to Tele2 starting December 2006.
Our view: We expect marginal positive trading impact as it allows TPSA to implement the UKE's WLR decision some 4 months after the original deadline, at no fines, removing the risk of another possible hit on TPSA's bottomline.