This research note is an update to the information we presented in February 2015 in our premium research note titled ‘Drillisch, the MVNO that helped clear Telefonica’s acquisition of E-Plus in Germany raised mobile internet gigabyte prices by 138%’ (link).

In April 2015 Drillisch launched a new portfolio of smartphone tariffs in many of its retails sub-brands.

- Drillisch’s new smartphone tariffs are remarkably similar to Telefonica o2’s tariffs
- Telefonica’s so called ‘upfront capacity MVNO’ remedy in Germany is neither capacity based nor effective
- Post-merger the lowest available price of key smartphone plan baskets in Germany increased by 19% and 59%