Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories

Europe needs $355 billion for 5G rollout, industrial study says

Europe needs $355 billion for 5G rollout, industrial study says

By Foo Yun Chee

BRUSSELS (Reuters) – Europe needs to pump 300 billion euros ($355 billion) into its telecoms infrastructure by 2025 if it wants to roll out super fast 5G across the 27-country bloc to boost economic growth and tap the potential of the technology, a report said on Thursday.

The study by consulting firm BCG, commissioned by telecoms lobbying group ETNO, comes as the European Union pins its hopes on 5G to lift it out of a COVID-19 pandemic-induced recession and take the lead in internet-connected devices.

But EU telecoms operators have been reluctant to invest in 5G networks, which could support smart factories and self-driving cars, because of the massive outlay, while they say plans to scale up via mergers to take on these costly projects have been stymied by tough EU antitrust rules.

“150 billion euros is still needed to achieve a full-5G scenario in Europe, while an additional 150 billion euros is required to finish upgrading fixed infrastructure to gigabit speeds,” the report said.

Delays in auctioning of 5G spectrum – airwaves necessary for operators to start offering commercial 5G – due to governments shifting focus to counter the pandemic have also disappointed the industry.

The study proposed several measures that governments and regulators could implement to boost the telecoms industry.

“One such step is pursuing new ownership models involving voluntary infrastructure sharing, which can allow faster roll-out, reduced overall environmental impact, and increased knowledge transfer among partners,” it said.

Loosening rules to allow telecoms providers to cooperate and co-invest or to split infrastructure construction from telecommunications services businesses were also some of the suggestions.

The study also called for operators to be allowed to monetise data traffic on their networks to catch up with rivals such as Google, Facebook, Microsoft and other tech giants.

($1 = 0.8455 euros)

(Reporting by Foo Yun Chee. Editing by Mark Potter)

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post