I've been doing some more in depth analysis of the Infratil shareholder meeting last Thursday. I've gone over the video/audio multiple times to try and break down exactly what Marko was saying when answering questions about Vodafone.
https://edge.media-server.com/mmc/p/uckjzp66
There are two key moments:
Moment 1: Time stamp @ 50:30 - 52:14
Moment 2: Time stamp @ 54:10 - 55:03
In the first "moment", which I've posted about before, Marko is basically being asked about the direction of Vodafone, in particular their overall core strategy. The question is rather vague but it is essentially asking if Vodafone will become an innovative telecommunications company like Spark, or just be a low cost mobile platform provider.
Marko response to this question is also rather vague. He confirms that Vodafone is following a similar strategy to Spark but that the way in which they achieve this strategy may be different. He uses the keyword "re-platforming" to suggest how Vodafone can achieve this goal and differentiate themselves from Spark. However, the way in which he defines "re-platforming" is vague, as he just uses generic statements like "investing in infrastructure" and "simpler operations". The only information a listener can deduce from this is:
A) Vodafone will be more like Spark
B) Vodafone is "re-platforming" to be more like Spark
The second "moment" is actually more interesting, as the question is more direct and less vague. It simply asks if there will be more job losses at Vodafone.
In answering this question Marko doesn't use the phrase "re platforming" as he did before, but he changes the phrase slightly to "re positioning". I believe there is a difference between these two phrases as the first suggest that it's about physical changes, i.e. things like "infrastructure" and "operations", these also match the things he said in the "first moment". The second phrase suggest it's more about intangible things, like the overall business goals or objectives.
Marko then goes on to say that this "re positioning" will create a "different shape business" and that this may result in job distribution. However, it's important to note that he does say that he knows of no such plans "today" that will result in further job losses.
If you combined the "first moment" and the "second moment" together what you can conclude is that there is significant change happening at Vodafone. The question is, does this change involve Sky in any way. Perhaps there's no direct way to know for sure but what you can ask is, if Vodafone is following Spark, then who is Spark following? And, why do these companies want to change?
I believe that these "strategies" that Spark and Vodafone are following, are simply strategies that other global telecommunications companies have been following. That is that to say that telecommunications companies are becoming more like information technologies companies. This follows on a from the key theme of the first moment, which is that Vodafone must be innovative to be successful - it can't simply just be a low cost mobile provider. One way Vodafone can achieve this (i.e. not being just a mobile provider) is to do takeovers or mergers, which is what other global telecommunications companies have been doing recently. This is why I believe that Vodafone's strategy does involve Sky, as it helps them achieve their overall goal of being an innovative data company and following the path of Spark.