{"id":1531,"date":"2023-08-11T06:01:47","date_gmt":"2023-08-11T06:01:47","guid":{"rendered":"https:\/\/telecom-ip-com.stackstaging.com\/najemci\/co-je-treti-vlna\/"},"modified":"2024-06-19T07:20:00","modified_gmt":"2024-06-19T07:20:00","slug":"co-je-treti-vlna","status":"publish","type":"page","link":"https:\/\/old-tip-uk.neutrino.media\/cs\/najemci\/co-je-treti-vlna\/","title":{"rendered":"Co je t\u0159et\u00ed vlna?"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"1531\" class=\"elementor elementor-1531 elementor-510\" data-elementor-post-type=\"page\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-bd8307f elementor-section-height-min-height elementor-section-boxed elementor-section-height-default elementor-section-items-middle\" data-id=\"bd8307f\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;shape_divider_bottom&quot;:&quot;triangle-asymmetrical&quot;,&quot;shape_divider_bottom_negative&quot;:&quot;yes&quot;}\">\n\t\t\t\t\t<div class=\"elementor-shape elementor-shape-bottom\" aria-hidden=\"true\" data-negative=\"true\">\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 1000 100\" preserveAspectRatio=\"none\">\n\t<path class=\"elementor-shape-fill\" d=\"M737.9,94.7L0,0v100h1000V0L737.9,94.7z\"\/>\n<\/svg>\t\t<\/div>\n\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-ed9fa57\" data-id=\"ed9fa57\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-ca8fa07 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ca8fa07\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-f5a23ca\" data-id=\"f5a23ca\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-cc71232 elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"cc71232\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Co je t\u0159et\u00ed vlna?<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d9ae181 elementor-widget elementor-widget-heading\" data-id=\"d9ae181\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Ve spole\u010dnosti TIP usilujeme o rozumn\u00e9,  <br>\ndlouhodob\u011b p\u0159edv\u00eddateln\u00e1 hotovost<br> \ntoky - stejn\u011b jako u n\u00e1jemc\u016f\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1505254 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"1505254\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/old-tip-uk.neutrino.media\/cs\/najemci\/\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"icon icon-right-arrow1\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">N\u00e1jemci<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/old-tip-uk.neutrino.media\/cs\/najemci\/nejcastejsi-dotazy-najemcu\/\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"icon icon-right-arrow1\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Nej\u010dast\u011bj\u0161\u00ed dotazy n\u00e1jemc\u016f<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/old-tip-uk.neutrino.media\/cs\/najemci\/co-je-treti-vlna\/\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"icon icon-right-arrow1\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><b>Co je t\u0159et\u00ed vlna?<\/b><\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-2699561\" data-id=\"2699561\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-b9af693 elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-invisible\" data-id=\"b9af693\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;animation&quot;:&quot;fadeInUp&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-7b01f32\" data-id=\"7b01f32\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3efd429 elementor-widget elementor-widget-heading\" data-id=\"3efd429\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Co je t\u0159et\u00ed vlna?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-6d18a6e\" data-id=\"6d18a6e\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-a5ae59c\" data-id=\"a5ae59c\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-57b705e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"57b705e\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-5bb0259\" data-id=\"5bb0259\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-612c8d5\" data-id=\"612c8d5\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d6cb526 elementor-widget elementor-widget-text-editor\" data-id=\"d6cb526\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Obra\u0165te se na jednoho z na\u0161ich profesion\u00e1l\u016f<br \/>telekomunika\u010dn\u00ed poradci.<\/p>\n<p>Zavolejte na\u0161emu t\u00fdmu na <a href=\"tel:+442045702053\"><br \/>\n  <strong>+44 20 4570 2053<\/strong><br \/>\n<\/a> nebo na <a href=\"https:\/\/old-tip-uk.neutrino.media\/cs\/kontaktujte-nas\/\"><br \/>\n  <span style=\"text-decoration: underline;\"><br \/>\n    <strong>po\u017e\u00e1dejte o zp\u011btn\u00e9 zavol\u00e1n\u00ed<\/strong><br \/>\n  <\/span><br \/>\n<\/a> v \u010dase, kter\u00fd v\u00e1m vyhovuje.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-53c7d71 elementor-widget__width-initial elementor-absolute elementor-hidden-tablet elementor-hidden-mobile elementor-widget elementor-widget-image\" data-id=\"53c7d71\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_position&quot;:&quot;absolute&quot;}\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"309\" height=\"303\" src=\"https:\/\/old-tip-uk.neutrino.media\/wp-content\/uploads\/2023\/07\/Mask-Group-2.png\" class=\"attachment-full size-full wp-image-404\" alt=\"\" srcset=\"https:\/\/old-tip-uk.neutrino.media\/wp-content\/uploads\/2023\/07\/Mask-Group-2.png 309w, https:\/\/old-tip-uk.neutrino.media\/wp-content\/uploads\/2023\/07\/Mask-Group-2-300x294.png 300w\" sizes=\"(max-width: 309px) 100vw, 309px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1aa6e22 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1aa6e22\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7990f00\" data-id=\"7990f00\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3adf0e6 elementor-widget elementor-widget-text-editor\" data-id=\"3adf0e6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>Co je t\u0159et\u00ed vlna v telekomunika\u010dn\u00ed infrastruktu\u0159e?<\/strong><\/p>\n<p>V ekonomii je d\u011blba pr\u00e1ce rozd\u011blen\u00edm \u00fakol\u016f v jak\u00e9mkoli ekonomick\u00e9m syst\u00e9mu nebo organizaci, aby se \u00fa\u010dastn\u00edci mohli specializovat. Specializace na telekomunika\u010dn\u00ed infrastrukturu se poprv\u00e9 objevila ve Spojen\u00fdch st\u00e1tech v polovin\u011b 90. let 20. stolet\u00ed, kdy si vedouc\u00ed pracovn\u00edci t\u0159\u00ed spole\u010dnost\u00ed (American Radio, Castle Towers a Steve Bernstein Associates) uv\u011bdomili hodnotu vyu\u017eit\u00ed potenci\u00e1lu v\u011b\u017e\u00ed prodejem prostor v\u00edce n\u00e1jemc\u016fm. V\u0161echny t\u0159i podniky zalo\u017eily v\u011b\u017eov\u00e9 spole\u010dnosti, kter\u00e9 jsou zn\u00e1m\u00e9 dodnes: American Tower, Crown Castle a SBA Communications.<\/p>\n<p><strong>Pasivn\u00ed infrastruktura nen\u00ed pro provozovatele mobiln\u00edch s\u00edt\u00ed &#8222;kl\u00ed\u010dov\u00e1&#8220;.<\/strong><\/p>\n<p>Ve Spojen\u00fdch st\u00e1tech si oper\u00e1to\u0159i mobiln\u00edch s\u00edt\u00ed (MNO) brzy uv\u011bdomili, \u017ee se zab\u00fdvaj\u00ed prodejem hlasu a dat a \u017ee pasivn\u00ed telekomunika\u010dn\u00ed infrastruktura skute\u010dn\u011b nen\u00ed z\u00e1kladem jejich podnik\u00e1n\u00ed. Nez\u00e1visl\u00e9 v\u011b\u017eov\u00e9 spole\u010dnosti, pro kter\u00e9 je spr\u00e1va pasivn\u00ed telekomunika\u010dn\u00ed infrastruktury vlastn\u011b hlavn\u00ed \u010dinnost\u00ed, maj\u00ed obvykle v\u00edce zku\u0161enost\u00ed s identifikac\u00ed efektivity a sni\u017eov\u00e1n\u00edm provozn\u00edch v\u00fddaj\u016f (OPEX). Krom\u011b toho maj\u00ed v\u011b\u017eov\u00e9 spole\u010dnosti obvykle ni\u017e\u0161\u00ed n\u00e1klady na kapit\u00e1l ne\u017e MNO a maj\u00ed v\u011bt\u0161\u00ed pod\u00edl spole\u010dn\u00e9ho um\u00edst\u011bn\u00ed (sd\u00edlen\u00ed lokalit) na sv\u00fdch sto\u017e\u00e1rech. Spole\u010dnost EY-Parthenon prok\u00e1zala, \u017ee typick\u00fd bod p\u0159\u00edtomnosti (PoP) spravovan\u00fd nez\u00e1vislou v\u011b\u017eovou spole\u010dnost\u00ed je o 46 % efektivn\u011bj\u0161\u00ed ne\u017e bod spravovan\u00fd provozovatelem s\u00edt\u011b.<\/p>\n<p><strong>V\u0161ichni t\u0159i velc\u00ed ameri\u010dt\u00ed oper\u00e1to\u0159i se zbavili sv\u00e9 pasivn\u00ed infrastruktury.<\/strong>  V d\u016fsledku toho v\u0161ichni velc\u00ed ameri\u010dt\u00ed oper\u00e1to\u0159i prodali (nebo pronajali) sv\u00e9 sto\u017e\u00e1ry infrastrukturn\u00edm spole\u010dnostem: v roce 2012 zaplatila spole\u010dnost Crown Castle spole\u010dnosti T-Mobile 2,4 miliardy dolar\u016f za dlouhodobou smlouvu zahrnuj\u00edc\u00ed 7 200 sto\u017e\u00e1r\u016f (n\u011bkter\u00e9 prodan\u00e9, n\u011bkter\u00e9 pronajat\u00e9). Podobn\u011b v roce 2013 zaplatila spole\u010dnost Crown Castle spole\u010dnosti AT&amp;T 4,85 miliardy dolar\u016f za dlouhodob\u00fd pron\u00e1jem 9 100 sto\u017e\u00e1r\u016f. V roce 2015 zaplatila spole\u010dnost American Tower spole\u010dnosti Verizon Wireless 5,1 miliardy dolar\u016f za dlouhodob\u00fd pron\u00e1jem 11 300 sto\u017e\u00e1r\u016f. Uzav\u0159eno bylo i mnoho men\u0161\u00edch obchod\u016f.<\/p>\n<p><strong>Evropa je n\u00e1sledovala.<\/strong>  V posledn\u00edch letech za\u010daly prod\u00e1vat tak\u00e9 evropsk\u00e9 MNO. N\u011bkter\u00e9 z nich za\u010daly (m\u00e9n\u011b efektivn\u00edm) krokem vytvo\u0159en\u00ed v\u011b\u017eov\u00fdch spole\u010dnost\u00ed kontrolovan\u00fdch MNO (Deutsche Funkturm, Telxius, Vantage, TOTEM). Jin\u00ed se v\u0161ak rozhodli pro &#8222;skok&#8220; k pln\u00e9 specializaci. Nap\u0159\u00edklad ve \u0160pan\u011blsku prodali oper\u00e1to\u0159i (Telefonica, Yoigo, Masmovil a Orange) spole\u010dnosti Cellnex za posledn\u00edch deset let t\u00e9m\u011b\u0159 8 000 v\u011b\u017e\u00ed. Ve Francii prodala spole\u010dnost Bouygues v\u00edce ne\u017e 6 000 v\u011b\u017e\u00ed spole\u010dnostem Cellnex a FPS Towers a spole\u010dnost Iliad prodala 70 % sv\u00e9ho portfolia v\u011b\u017e\u00ed spole\u010dnosti Cellnex. V It\u00e1lii prodala spole\u010dnost Wind 7 400 v\u011b\u017e\u00ed spole\u010dnosti Cellnex a spole\u010dnost CK Hutchinson dal\u0161\u00edch 8 900 v\u011b\u017e\u00ed, rovn\u011b\u017e spole\u010dnosti Cellnex. Ve Spojen\u00e9m kr\u00e1lovstv\u00ed spole\u010dnost Cellnex ned\u00e1vno z\u00edskala spole\u010dnost Arqiva a 6 000 sto\u017e\u00e1r\u016f od spole\u010dnosti CK Hutchinson.<\/p>\n<p><strong>T\u0159i vlny.<\/strong>  Tento v\u00fdvoj si m\u016f\u017eeme p\u0159edstavit jako &#8222;vlny&#8220;. Prvn\u00ed vlnou by byl po\u010d\u00e1te\u010dn\u00ed rozvoj s\u00edt\u00ed samotn\u00fdmi MNO. Druhou vlnou by byl prodej pasivn\u00ed infrastruktury v\u011b\u017eov\u00fdm spole\u010dnostem.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/telecom-ip.com\/wp-content\/uploads\/2021\/08\/Third-Wave-Graphic-4.png?resize=750%2C322&amp;ssl=1\"><\/p>\n<p>T\u0159et\u00ed vlna za\u010dala i ve Spojen\u00fdch st\u00e1tech. Spole\u010dnost Wireless Capital Partners (WCP), prvn\u00ed americk\u00fd agreg\u00e1tor telekomunika\u010dn\u00edch pozemn\u00edch pron\u00e1jm\u016f, byla zalo\u017eena v roce 2001. Spole\u010dnost Unison Site Management (Unison) brzy n\u00e1sledovala v roce 2003. Spole\u010dnost Unison vylep\u0161ila model spole\u010dnosti WCP v tom, \u017ee za\u010dala z\u00edsk\u00e1vat &#8222;telekomunika\u010dn\u00ed v\u011bcn\u00e1 b\u0159emena&#8220;, a nikoliv pouze n\u00e1jemn\u00ed pr\u00e1va (a uk\u00e1zalo se, \u017ee telekomunika\u010dn\u00edm v\u011bcn\u00fdm b\u0159emen\u016fm, kter\u00e1 jsou siln\u011bj\u0161\u00edmi vlastnick\u00fdmi pr\u00e1vy, se v letech 2009-2010, kdy do\u0161lo k tzv. velk\u00e9 recesi, da\u0159ilo l\u00e9pe). Pan Overman, kter\u00fd v t\u00e9 dob\u011b p\u016fsobil jako pr\u00e1vn\u00edk v oblasti mezin\u00e1rodn\u00edch dan\u00ed a strukturovan\u00e9ho financov\u00e1n\u00ed, poprv\u00e9 pomohl spole\u010dnosti s n\u00e1zvem MD7 vstoupit do oblasti agregace pron\u00e1jmu pozemk\u016f v roce 2004, co\u017e byl tak\u00e9 rok, kdy byla zalo\u017eena spole\u010dnost Communications Capital Group (nyn\u00ed TowerPoint). Spole\u010dnost Telecom Lease Advisors (nyn\u00ed Lease Advisors) byla zalo\u017eena v roce 2008. V roce 2009 zalo\u017eil spole\u010dnost Wireless Infrastructure Partners (WIP) a v roce 2010 n\u00e1sledovala spole\u010dnost Landmark Dividend.<\/p>\n<p><strong>Pan Overman a jeho t\u00fdm ve spole\u010dnosti WIP p\u0159enesli investov\u00e1n\u00ed do pron\u00e1jmu mobiln\u00edch za\u0159\u00edzen\u00ed na mezin\u00e1rodn\u00ed \u00farove\u0148.<\/strong>  Pot\u00e9, co pan Overman a j\u00edm zalo\u017een\u00e1 spole\u010dnost WIP uzav\u0159eli ve Spojen\u00fdch st\u00e1tech p\u0159ibli\u017en\u011b 1 000 investic do pron\u00e1jmu mobiln\u00edch lokalit, p\u0159enesli agregaci pron\u00e1jmu mobiln\u00edch lokalit v americk\u00e9m stylu nejprve na mezin\u00e1rodn\u00ed trh. Byl to logick\u00fd krok, proto\u017ee konkurence mezi americk\u00fdmi agreg\u00e1tory pron\u00e1jm\u016f sni\u017eovala mar\u017ee; agreg\u00e1to\u0159i soupe\u0159ili o p\u0159ibli\u017en\u011b 300 000 m\u00edst ve Spojen\u00fdch st\u00e1tech, ale mezin\u00e1rodn\u00ed trh, kter\u00fd zahrnoval n\u011bkolik milion\u016f m\u00edst, byl otev\u0159en\u00fd. Krom\u011b toho byl pan Overman dvoj\u00edm ob\u010danem USA a Evropy, narodil se a vyr\u016fstal v Nizozemsku (jedn\u00e9 z nejotev\u0159en\u011bj\u0161\u00edch a nejmultikulturn\u011bj\u0161\u00edch spole\u010dnost\u00ed na sv\u011bt\u011b), ale odborn\u00e9 vzd\u011bl\u00e1n\u00ed z\u00edskal ve Spojen\u00fdch st\u00e1tech (na Georgetown Law School a School of Foreign Service).<\/p>\n<p>Pan Overman pou\u017eil p\u0159\u00edstup spole\u010dnosti WCP k n\u00e1kupu n\u00e1jemn\u00edch pr\u00e1v v jurisdikc\u00edch zvykov\u00e9ho pr\u00e1va (Austr\u00e1lie, Kanada, Spojen\u00e9 kr\u00e1lovstv\u00ed), kde &#8222;v\u011bcn\u00e1 b\u0159emena&#8220; typu Unison neexistuj\u00ed. V\u011bcn\u00e1 b\u0159emena pak nahradil (p\u016fvodn\u011b \u0159\u00edmsk\u00fdm a za\u017eit\u00fdm) konceptem u\u017e\u00edvac\u00edch pr\u00e1v v zem\u00edch ob\u010dansk\u00e9ho pr\u00e1va (Francie, \u0160pan\u011blsko, It\u00e1lie, Mexiko, Braz\u00edlie, Chile a Kolumbie). Jin\u00e9 jurisdikce vy\u017eadovaly individu\u00e1ln\u011bj\u0161\u00ed p\u0159\u00edstup. Pan Overman dohl\u00ed\u017eel na investice do p\u0159ibli\u017en\u011b 6 000 pracovi\u0161\u0165 ve 20 zem\u00edch za m\u00e9n\u011b ne\u017e deset let. Spole\u010dnost Landmark Dividend and Lease Advisors n\u00e1sledovala pana Overmana pouze do anglicky mluv\u00edc\u00edch jurisdikc\u00ed (Kanada a Austr\u00e1lie). V\u0161ude jinde na sv\u011bt\u011b v\u0161ak pan Overman \u010delil (a st\u00e1le \u010del\u00ed) jen mal\u00e9 nebo \u017e\u00e1dn\u00e9 konkurenci. Ve spole\u010dnosti TIP pan Overman pokra\u010duje v inovac\u00edch a vstupuje na nov\u00e9 trhy, nap\u0159\u00edklad do D\u00e1nska a \u010cesk\u00e9 republiky, a pl\u00e1nuje dal\u0161\u00ed jurisdikce a dal\u0161\u00ed t\u0159\u00eddy aktiv.<\/p>\n<p><strong>V\u011b\u017eov\u00e9 spole\u010dnosti jako &#8222;strategie odchodu&#8220; pro agreg\u00e1tory leasingu<\/strong>. P\u0159esto\u017ee t\u0159et\u00ed vlna byla pro MNO i v\u011b\u017eov\u00e9 spole\u010dnosti nov\u00e1, v\u011b\u017eov\u00e9 spole\u010dnosti se rychle staly &#8222;\u00fanikovou strategi\u00ed&#8220; pro agreg\u00e1tory pron\u00e1jmu. Spole\u010dnost American Tower koupila v roce 2011 od spole\u010dnosti Unison 1 800 investic do pron\u00e1jmu pozemk\u016f (a spole\u010dnost Unison z t\u011bchto prostor ode\u0161la). Spole\u010dnost Crown Castle koupila v roce 2012 od spole\u010dnosti WCP 2 300 kus\u016f (a ani ta ji\u017e nen\u00ed aktivn\u00ed). Spole\u010dnost InSite Wireless Group koupila spole\u010dnost Lease Advisors v roce 2014 a pot\u00e9 ji v roce 2020 z\u00edskala spole\u010dnost American Tower. Spole\u010dnost Digital Bridge z\u00edskala spole\u010dnost Landmark Dividend v roce 2021.<\/p>\n<p><strong>Partne\u0159i v oblasti telekomunika\u010dn\u00ed infrastruktury op\u011bt v pop\u0159ed\u00ed.<\/strong>  Z\u00edsk\u00e1n\u00ed v\u00edce ne\u017e 6 000 pron\u00e1jm\u016f mobiln\u00edch lokalit panem Overmanem a jeho t\u00fdmy umo\u017enilo investor\u016fm spole\u010dnosti WIP vstoupit v roce 2020 na burzu. Pan Overman zalo\u017eil spole\u010dnost Telecom Infrastructure Partners (TIP) v \u00fanoru 2020 a okam\u017eit\u011b vyhledal a z\u00edskal kapit\u00e1lov\u00fd z\u00e1vazek pot\u0159ebn\u00fd k tomu, aby pomohl dot\u00e1hnout t\u0159et\u00ed vlnu do logick\u00e9ho konce (350 milion\u016f dolar\u016f ve vlastn\u00edm kapit\u00e1lu, co\u017e v kombinaci s dluhem poskytne spole\u010dnosti TIP v\u00edce ne\u017e 1 miliardu dolar\u016f na investice). Po 18m\u011bs\u00ed\u010dn\u00ed dovolen\u00e9 zah\u00e1jil pan Overman 1. z\u00e1\u0159\u00ed 2021 \u010dinnost spole\u010dnosti TIP.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/telecom-ip.com\/wp-content\/uploads\/2021\/08\/Time-for-Agreement-2.png?resize=750%2C594&amp;ssl=1\"><\/p>\n<p><strong>\u010cas na dohodu.<\/strong>  Logick\u00fdm vy\u00fast\u011bn\u00edm t\u0159et\u00ed vlny je samoz\u0159ejm\u011b dal\u0161\u00ed d\u011blba pr\u00e1ce a efektivita. P\u0159ed n\u011bkolika lety to nejl\u00e9pe vystihl jeden z vedouc\u00edch pracovn\u00edk\u016f spole\u010dnosti American Tower, s n\u00edm\u017e pan Overman vyjedn\u00e1val o investi\u010dn\u00edch programech pron\u00e1jmu pozemk\u016f sponzorovan\u00fdch n\u00e1jemci v Latinsk\u00e9 Americe: &#8222;bezdr\u00e1tov\u00ed oper\u00e1to\u0159i by se m\u011bli specializovat na hlasov\u00e9 a datov\u00e9 slu\u017eby, v\u011b\u017eov\u00e9 spole\u010dnosti na ocel a agreg\u00e1to\u0159i pron\u00e1jmu pozemk\u016f na pozemky.&#8220;<\/p>\n<p>Probl\u00e9m spo\u010d\u00edval v tom, \u017ee investo\u0159i do pron\u00e1jmu mobiln\u00edch lokalit se sna\u017eili o &#8222;r\u016fst&#8220; spojen\u00fd s ocel\u00ed, m\u00edsto aby si uv\u011bdomili, \u017ee investice do pron\u00e1jmu mobiln\u00edch lokalit se podobaj\u00ed investic\u00edm do pron\u00e1jmu &#8222;Triple Net&#8220; v jin\u00fdch t\u0159\u00edd\u00e1ch aktiv: zat\u00edmco v\u011b\u017eov\u00e9 spole\u010dnosti udr\u017euj\u00ed cenu sv\u00fdch akci\u00ed t\u00edm, \u017ee usiluj\u00ed o r\u016fst (organicky, tlakem na MNO za vy\u0161\u0161\u00ed n\u00e1jemn\u00e9 a um\u00edst\u011bn\u00edm dal\u0161\u00edch n\u00e1jemc\u016f, jako\u017e i prost\u0159ednictv\u00edm f\u00faz\u00ed a akvizic), dob\u0159e \u0159\u00edzen\u00fd agreg\u00e1tor pron\u00e1jm\u016f m\u00e1 naprostou &#8222;shodu c\u00edl\u016f&#8220; se sv\u00fdmi n\u00e1jemci, MNO a v\u011b\u017eov\u00fdmi spole\u010dnostmi. Ob\u011b strany usiluj\u00ed o dlouhodob\u00e9, p\u0159edv\u00eddateln\u00e9 a &#8222;dluhopisov\u00e9&#8220; toky n\u00e1jemn\u00e9ho.<\/p>\n<p><strong>TIP je p\u0159ipraven na 100% kontrolu.<\/strong>  Z tohoto d\u016fvodu je spole\u010dnost TIP p\u0159ipravena na to, \u017ee bude 100% kontrolov\u00e1na sv\u00fdmi n\u00e1jemci, tedy provozovateli mobiln\u00edch s\u00edt\u00ed a v\u011b\u017eov\u00fdmi spole\u010dnostmi. N\u00e1\u0161 obchodn\u00ed model spo\u010d\u00edv\u00e1 v investov\u00e1n\u00ed do pron\u00e1jmu mobiln\u00edch str\u00e1nek &#8222;tak, jak je najdeme&#8220;. NEJSME investo\u0159i typu rizikov\u00e9ho kapit\u00e1lu, kte\u0159\u00ed se sna\u017e\u00ed maximalizovat v\u00fdnos z kone\u010dn\u00e9 tran\u0161e investic prost\u0159ednictv\u00edm agresivn\u00edho vyjedn\u00e1v\u00e1n\u00ed. M\u00edsto toho vytv\u00e1\u0159\u00edme vysoce kvalitn\u00ed glob\u00e1ln\u00ed portfolio s dlouhodob\u00fdmi a p\u0159edv\u00eddateln\u00fdmi pen\u011b\u017en\u00edmi toky &#8211; jako dluhopis, nikoli jako akcie. Spole\u010dnost TIP je p\u0159ipravena vzd\u00e1t se ka\u017ed\u00e9 mo\u017enosti nov\u00e9ho vyjedn\u00e1v\u00e1n\u00ed t\u00edm, \u017ee s n\u00e1jemci uzav\u0159e roz\u0161\u00ed\u0159en\u00e9 n\u00e1jemn\u00ed smlouvy (nebo r\u00e1mcov\u00e9 n\u00e1jemn\u00ed smlouvy), kter\u00e9 jsou \u010dasov\u011b shodn\u00e9 s investic\u00ed spole\u010dnosti TIP. To znamen\u00e1, \u017ee provozovatel\u00e9 s\u00edt\u00ed a v\u011b\u017eov\u00e9 spole\u010dnosti z\u00edskaj\u00ed ceny a provozn\u00ed podm\u00ednky, kter\u00e9 si p\u0159ej\u00ed, ani\u017e by se museli ob\u00e1vat jak\u00e9hokoli op\u011btovn\u00e9ho vyjedn\u00e1v\u00e1n\u00ed. Spole\u010dnost TIP bude usilovat o p\u0159im\u011b\u0159en\u00fd v\u00fdnos, kter\u00fd bude pln\u011b transparentn\u00ed.<\/p>\n<p>Jen na okraj, tento p\u0159\u00edstup je toto\u017en\u00fd s p\u0159\u00edstupem spole\u010dnost\u00ed WCP, Unison a Landmark Dividend. Ameri\u010dt\u00ed provozovatel\u00e9 mobiln\u00edch s\u00edt\u00ed spolupracovali s t\u011bmito agreg\u00e1tory pron\u00e1jm\u016f na zaji\u0161t\u011bn\u00ed strategick\u00fdch lokalit za p\u0159edv\u00eddateln\u00fdch podm\u00ednek. Pro investora do pron\u00e1jmu pozemk\u016f nem\u00e1 smysl agresivn\u011b vyjedn\u00e1vat s velk\u00fdmi, ve\u0159ejn\u011b obchodovan\u00fdmi a dob\u0159e kapitalizovan\u00fdmi n\u00e1jemci. Je\u0161t\u011b m\u00e9n\u011b smyslupln\u00e9 je to d\u011blat v mnoha jurisdikc\u00edch na v\u00edce kontinentech.<\/p>\n<p><strong>T\u0159i p\u0159\u00edklady t\u0159et\u00ed vlny<\/strong>. Spole\u010dnost TIP bude pokra\u010dovat v dosavadn\u00edch v\u00fdsledc\u00edch pana Overmana a d\u00e1le je zlep\u0161ovat t\u00edm, \u017ee bude samostatn\u011b a rychl\u00fdm tempem z\u00edsk\u00e1vat pron\u00e1jmy mobiln\u00edch lokalit (a mobiln\u00edch \u00fast\u0159eden, DAS a datov\u00fdch center). Spole\u010dnost TIP m\u00e1 v\u0161ak dobr\u00e9 p\u0159edpoklady k tomu, aby pomohla provozovatel\u016fm mobiln\u00edch s\u00edt\u00ed a v\u011b\u017eov\u00fdm spole\u010dnostem d\u00e1le se specializovat a zavr\u0161it tak t\u0159et\u00ed vlnu. Zde je n\u011bkolik p\u0159\u00edklad\u016f:<\/p>\n<p><strong>(1) Programy pr\u00e9miov\u00e9ho leasingu sponzorovan\u00e9 n\u00e1jemcem.<\/strong>  TIP m\u016f\u017ee pomoci vytvo\u0159it &#8222;win-win&#8220; mezi vlastn\u00edky nemovitost\u00ed na jedn\u00e9 stran\u011b a MNO a infrastrukturn\u00edmi spole\u010dnostmi na stran\u011b druh\u00e9. D\u016fvodem je, \u017ee schopnost spole\u010dnosti TIP platit vlastn\u00edk\u016fm nemovitost\u00ed vysok\u00e9 n\u00e1jemn\u00e9 p\u0159edem NEN\u00cd z\u00e1visl\u00e1 na op\u011btovn\u00e9m sjedn\u00e1n\u00ed n\u00e1jemn\u00ed smlouvy p\u0159i jej\u00edm prodlou\u017een\u00ed. M\u00edsto toho TIP vyu\u017e\u00edv\u00e1 skute\u010dnosti, \u017ee vlastn\u00edk nemovitosti \u010del\u00ed &#8222;bin\u00e1rn\u00edmu riziku&#8220;: bu\u010f n\u00e1jem mobiln\u00edho m\u00edsta plat\u00ed n\u00e1jemn\u00e9 (&#8222;1&#8220;), nebo je vypov\u011bzen (&#8222;0&#8220;). Spole\u010dnost TIP samoz\u0159ejm\u011b \u010del\u00ed portfoliov\u00e9mu riziku (sp\u00ed\u0161e ne\u017e bin\u00e1rn\u00edmu riziku): pokud dojde k ukon\u010den\u00ed pron\u00e1jmu ur\u010dit\u00e9ho pozemku, je spole\u010dnost TIP zaji\u0161t\u011bna tis\u00edci dal\u0161\u00edch pron\u00e1jm\u016f pozemk\u016f. To logicky znamen\u00e1, \u017ee v\u017edy existuje v\u00fdplatn\u00ed cena, kter\u00e1 je atraktivn\u00ed jak pro spole\u010dnost TIP, tak pro vlastn\u00edka nemovitosti. V racion\u00e1ln\u00edm sv\u011bt\u011b by 100 % majitel\u016f str\u00e1nek m\u011blo prod\u00e1vat! Atraktivita leasingov\u00fdch pr\u00e9mi\u00ed se potvrdila i na trhu: na cel\u00e9m sv\u011bt\u011b ji\u017e bylo realizov\u00e1no v\u00edce ne\u017e 25 000 investic do pron\u00e1jmu pozemk\u016f.<\/p>\n<p>V tomto sc\u00e9n\u00e1\u0159i vyhr\u00e1v\u00e1 p\u0159edev\u0161\u00edm MNO nebo infrastrukturn\u00ed spole\u010dnost, proto\u017ee TIP je p\u0159ipravena uzav\u0159\u00edt roz\u0161\u00ed\u0159enou n\u00e1jemn\u00ed smlouvu (nebo smlouvu o pron\u00e1jmu v\u00edce lokalit, MSA), kter\u00e1 poskytuje MNO ve\u0161kerou provozn\u00ed flexibilitu, kterou si p\u0159eje (nap\u0159. formulace &#8222;roz\u0161\u00ed\u0159en\u00ed vyu\u017eit\u00ed&#8220; a &#8222;roz\u0161\u00ed\u0159en\u00ed prostor&#8220; pro podporu zav\u00e1d\u011bn\u00ed 5G), spolu s p\u0159im\u011b\u0159en\u00fdm sn\u00ed\u017een\u00edm n\u00e1jemn\u00e9ho. MNO nebo infrastrukturn\u00ed spole\u010dnost kontroluje TIP a vlastn\u00edka nemovitosti ze 100 %, proto\u017ee roz\u0161\u00ed\u0159en\u00e1 n\u00e1jemn\u00ed smlouva nebo MSA je spoluur\u010duj\u00edc\u00ed s investic\u00ed TIP. TIP nikdy nebude m\u00edt mo\u017enost znovu vyjedn\u00e1vat &#8211; a MNO nebo infrastrukturn\u00ed spole\u010dnost budou moci smlouvu podle pot\u0159eby ukon\u010dit.<\/p>\n<p><strong>(2) Prolomen\u00ed patov\u00e9 situace vypl\u00fdvaj\u00edc\u00ed z kodexu elektronick\u00fdch komunikac\u00ed Spojen\u00e9ho kr\u00e1lovstv\u00ed z roku 2017.<\/strong>  Ve Spojen\u00e9m kr\u00e1lovstv\u00ed byla reforma kodexu elektronick\u00fdch komunikac\u00ed (ECC) navr\u017eena tak, aby pomohla dos\u00e1hnout v\u0161udyp\u0159\u00edtomn\u00e9ho pokryt\u00ed a v\u011bt\u0161\u00ed kapacity &#8211; zejm\u00e9na pokud jde o 5G. Mobiln\u00ed oper\u00e1to\u0159i vyu\u017eili kodex k dosa\u017een\u00ed (n\u011bkdy dramatick\u00e9ho) sn\u00ed\u017een\u00ed n\u00e1jemn\u00e9ho a majitel\u00e9 nemovitost\u00ed se proti tomu ohradili.<\/p>\n<p>Podle z\u00e1kon\u00edku z roku 2017 jsme ji\u017e zaznamenali v\u00edce soudn\u00edch rozhodnut\u00ed ne\u017e za cel\u00fdch 30 let platnosti p\u0159edchoz\u00edho z\u00e1kon\u00edku a Soud varoval p\u0159ed pr\u016ftahy. Vl\u00e1da zkoum\u00e1, zda by nebylo t\u0159eba prov\u00e9st zm\u011bny, ale podle pr\u00e1vnick\u00e9 spole\u010dnosti zm\u011bny kodexu a postup\u016f nesta\u010d\u00ed.<\/p>\n<p>Ofcom \u0159\u00edk\u00e1, \u017ee by se strany m\u011bly sna\u017eit o dohodu, a my v TIP si mysl\u00edme, \u017ee m\u016f\u017eeme pomoci. V\u00edce ne\u017e 25 000 investic do pron\u00e1jmu str\u00e1nek po cel\u00e9m sv\u011bt\u011b uk\u00e1zalo, \u017ee majitel\u00e9 mobiln\u00edch str\u00e1nek maj\u00ed r\u00e1di leasingov\u00e9 pr\u00e9mie. Ve Spojen\u00e9m kr\u00e1lovstv\u00ed byly vyplaceny tis\u00edce pr\u00e9mi\u00ed za pron\u00e1jem pozemk\u016f. Jak je uvedeno v\u00fd\u0161e, ochota spole\u010dnosti TIP platit vysok\u00e9 n\u00e1jemn\u00e9 NEN\u00cd z\u00e1visl\u00e1 na budouc\u00edm zv\u00fd\u0161en\u00ed n\u00e1jemn\u00e9ho. Ve skute\u010dnosti jsme p\u0159ipraveni akceptovat sn\u00ed\u017een\u00ed n\u00e1jemn\u00e9ho, jak zam\u00fd\u0161l\u00ed nov\u00e1 Evropsk\u00e1 rada pro n\u00e1jemn\u00e9. N\u00e1\u0161 obchodn\u00ed model je zalo\u017een na dlouhodob\u00fdch, p\u0159edv\u00eddateln\u00fdch pen\u011b\u017en\u00edch toc\u00edch podobn\u00fdch dluhopis\u016fm, a\u0165 u\u017e jsou jak\u00e9koliv. N\u00e1\u0161 v\u00fdnos NEN\u00cd z\u00e1visl\u00fd na budouc\u00edm, vyjednan\u00e9m &#8222;r\u016fstu&#8220;.<\/p>\n<p>Tak\u00e9 jsme NEzaujali stanovisko k nov\u00e9mu ECC, abychom pomohli &#8222;prolomit slepou uli\u010dku&#8220; mezi vlastn\u00edky str\u00e1nek na jedn\u00e9 stran\u011b a MNO a infrastrukturn\u00edmi spole\u010dnostmi na stran\u011b druh\u00e9. Na\u0161e n\u00edzk\u00e9 n\u00e1klady na kapit\u00e1l n\u00e1m umo\u017e\u0148uj\u00ed platit majitel\u016fm pozemk\u016f vysok\u00e9 n\u00e1jemn\u00e9 a z\u00e1rove\u0148 nab\u00edzet provozovatel\u016fm mobiln\u00edch s\u00edt\u00ed a infrastrukturn\u00edm spole\u010dnostem v\u00fdhody, o kter\u00e9 usiluj\u00ed v r\u00e1mci nov\u00e9 ECC.<\/p>\n<p>TIP je pouze zprost\u0159edkovatelem a je ochoten b\u00fdt 100% kontrolov\u00e1n na z\u00e1klad\u011b smlouvy. Na\u0161\u00edm \u00fakolem je poskytnout kapit\u00e1l, kter\u00fd umo\u017en\u00ed &#8222;dostat se ze slep\u00e9 uli\u010dky&#8220;.<\/p>\n<p><strong>(3) Zp\u011btn\u00fd pron\u00e1jem pozemk\u016f a infrastruktury.<\/strong>  Proces zp\u011btn\u00e9ho leasingu je jednoduch\u00fd. TIP nab\u00fdv\u00e1 pr\u00e1va k nemovitosti, a\u0165 u\u017e jako vlastnick\u00e9 pr\u00e1vo nebo na z\u00e1klad\u011b n\u00e1jemn\u00ed \u010di u\u017e\u00edvac\u00ed smlouvy. Spole\u010dnost TIP pot\u00e9 pronaj\u00edm\u00e1 nemovitost zp\u011bt MNO, kter\u00e1 si nad n\u00ed ponech\u00e1v\u00e1 100% kontrolu.<\/p>\n<p>MNO pou\u017eije v\u00fdnosy podle pot\u0159eby na ziskov\u00e9 &#8222;hlavn\u00ed&#8220; \u010dinnosti, jako je zav\u00e1d\u011bn\u00ed technologi\u00ed. Financov\u00e1n\u00ed formou zp\u011btn\u00e9ho leasingu m\u00e1 mnoho v\u00fdhod:<\/p>\n<ul>\n<li>Zp\u011btn\u00e9 z\u00edsk\u00e1n\u00ed p\u0159edchoz\u00edch kapit\u00e1lov\u00fdch v\u00fddaj\u016f (CapEx) p\u0159i zachov\u00e1n\u00ed 100% kontroly;<\/li>\n<li>Z\u00edskejte 100 % hodnoty majetku (bez pom\u011bru v\u00fd\u0161e \u00fav\u011bru k hodnot\u011b majetku);<\/li>\n<li>Zlep\u0161it pom\u011br dluhu k vlastn\u00edmu kapit\u00e1lu, vyhnout se poru\u0161en\u00ed dluhov\u00fdch smluv;<\/li>\n<li>Flexibiln\u011bj\u0161\u00ed ne\u017e dluhov\u00e9 financov\u00e1n\u00ed (doba splatnosti 10-30 let);<\/li>\n<li>P\u0159em\u011bna odepisovateln\u00e9ho majetku na hotovost;<\/li>\n<li>Chr\u00e1nit majetek p\u0159ed nez\u00e1visl\u00fdmi kupuj\u00edc\u00edmi z \u0159ad t\u0159et\u00edch stran.<\/li>\n<\/ul>\n<p>MNO si ponech\u00e1 plnou kontrolu nad majetkem. Spole\u010dnost TIP je \u010dist\u011b finan\u010dn\u00ed protistranou, nikoli konkurentem. Na\u0161e leasingov\u00e9 smlouvy jsou &#8222;Triple-Net&#8220; a &#8222;dluhopisov\u00e9&#8220;. MNO si uzamkne ceny, podm\u00ednky a pravidla &#8211; nebude mo\u017en\u00e9 o nich znovu vyjedn\u00e1vat. Zpen\u011b\u017een\u00ed:<\/p>\n<ul>\n<li>Sto\u017e\u00e1ry;<\/li>\n<li>Mobiln\u00ed \u00fast\u0159edny (MSC);<\/li>\n<li>DAS a<\/li>\n<li>Datov\u00e1 centra.<\/li>\n<\/ul>\n<p>Americk\u00e9 MNO se chr\u00e1nily t\u00edm, \u017ee s r\u016fzn\u00fdmi protistranami uzav\u00edraly smlouvy o zp\u011btn\u00e9m pron\u00e1jmu kl\u00ed\u010dov\u00fdch aktiv. Nap\u0159\u00edklad kdy\u017e spole\u010dnost AT&amp;T v roce 2019 prodala dal\u0161\u00edch 1 000 sto\u017e\u00e1r\u016f, neprodala je spole\u010dnosti Crown Castle (kter\u00e1 v roce 2013 koupila 9 100 jej\u00edch sto\u017e\u00e1r\u016f). M\u00edsto toho uzav\u0159ela dohodu se spole\u010dnost\u00ed Peppertree. Podobn\u011b kdy\u017e se spole\u010dnost Verizon rozhodla v roce 2015 uzav\u0159\u00edt smlouvu o zp\u011btn\u00e9m pron\u00e1jmu sv\u00e9ho provozn\u00edho centra v New Jersey v hodnot\u011b 650 milion\u016f dolar\u016f, u\u010dinila tak se spole\u010dnost\u00ed Mesirow Financial, a nikoli s American Tower. Evropsk\u00e9 MNO by m\u011bly podobn\u011b zv\u00e1\u017eit protistrany, kter\u00e9 je\u0161t\u011b nekontroluj\u00ed jejich portfolia sto\u017e\u00e1r\u016f. Aby byla t\u0159et\u00ed vlna skute\u010dn\u011b dokon\u010dena (optim\u00e1ln\u00ed specializace bez vzd\u00e1n\u00ed se kontroly), mohly by MNO zv\u00e1\u017eit uzav\u0159en\u00ed zp\u011btn\u00e9ho pron\u00e1jmu pozemk\u016f s TIP a z\u00e1rove\u0148 pokra\u010dovat ve zp\u011btn\u00e9m pron\u00e1jmu oceli, za\u0159\u00edzen\u00ed nebo dokonce budov na pronajat\u00e9m pozemku s t\u0159et\u00edmi stranami. Maxim\u00e1ln\u00ed v\u00fdnosy, maxim\u00e1ln\u00ed kontrola.<\/p>\n<p>TIP nab\u00edz\u00ed zdaleka nejzku\u0161en\u011bj\u0161\u00ed t\u00fdm v oblasti investic do pron\u00e1jmu mobiln\u00edch str\u00e1nek:<\/p>\n<ul>\n<li>V letech 2000-2009 poskytoval poradenstv\u00ed spole\u010dnostem z \u017eeb\u0159\u00ed\u010dku Fortune 500 p\u0159i financov\u00e1n\u00ed leasingov\u00fdch obchod\u016f za v\u00edce ne\u017e 4 miliardy dolar\u016f;<\/li>\n<li>V letech 2010-2019 se pan Overman v\u011bnoval investic\u00edm do pron\u00e1jmu mobiln\u00edch str\u00e1nek v americk\u00e9m stylu na mezin\u00e1rodn\u00ed \u00farovni a uzav\u0159el v\u00edce ne\u017e 6 000 transakc\u00ed (v hodnot\u011b dal\u0161\u00edch 1 miliardy dolar\u016f).<\/li>\n<\/ul>\n<p>S TIP pan Overman a jeho rychle se roz\u0161i\u0159uj\u00edc\u00ed t\u00fdm d\u00e1le zlep\u0161uj\u00ed a urychluj\u00ed tyto p\u016fsobiv\u00e9 v\u00fdsledky jako v\u016fd\u010d\u00ed osobnosti a inov\u00e1to\u0159i v t\u00e9to oblasti.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Co je t\u0159et\u00ed vlna? Ve spole\u010dnosti TIP usilujeme o rozumn\u00e9, dlouhodob\u011b p\u0159edv\u00eddateln\u00e1 hotovost toky &#8211; stejn\u011b jako u n\u00e1jemc\u016f N\u00e1jemci Nej\u010dast\u011bj\u0161\u00ed dotazy n\u00e1jemc\u016f Co je t\u0159et\u00ed vlna? Co je t\u0159et\u00ed vlna? Obra\u0165te se na jednoho z na\u0161ich profesion\u00e1l\u016ftelekomunika\u010dn\u00ed poradci. Zavolejte na\u0161emu t\u00fdmu na +44 20 4570 2053 nebo na po\u017e\u00e1dejte o zp\u011btn\u00e9 zavol\u00e1n\u00ed v \u010dase, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":1521,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-1531","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Co je t\u0159et\u00ed vlna? - Telecom IP<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"cs_CZ\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Co je t\u0159et\u00ed vlna? - Telecom IP\" \/>\n<meta property=\"og:description\" content=\"Co je t\u0159et\u00ed vlna? 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