 Welcome to ITU Telecom World 2018 here in Durban, South Africa. We're very pleased to be joining the studio today by Craig Price, who is from PCCW Global Limited. Craig, welcome to the studio. Thank you very much Max, I appreciate the opportunity. Now I'd like to start off by asking you a little bit about MVNOs, mobile virtual network operators. Perhaps you could demystify what MVNOs are and what role they play in today's ICT landscape. Well MVNOs have been around for a long time, but essentially decades I would think. Essentially, and there's various different versions of an MVNO. Typically an MVNO uses a mobile operator's infrastructure to supply a mobile service. And typically they come in a couple of forms and the two most common ones are a thick or thin MVNO. A thin MVNO would use the operator's infrastructure plus OSS-BSS and then provide the service under a particular brand into a particular market. A thick MVNO would actually utilise its own OSS-BSS, but still would address a particular market segment. And in terms of the key trends, what are the key trends to watch in the MVNO industry? I think MVNOs have been, I think it's been a tricky market for a long time for MVNOs. They have to compete typically in markets where they look for a particular market niche. And the market niches essentially are there to drive a particular market segment access or effectively increase in subscribers. I think the same principles still apply for all MVNOs. And essentially the MVNO gaining access to that particular market or having that differentiation is really still the key to an MVNO success. What are the obstacles in the market and in this market and how might they be overcome? Well, in what market? Every market is a little bit different. So in the African market, I think it's going to be hard work for the MVNOs, but there's still an opportunity there. Certainly the mobile penetration is still way below global standards and maybe there could be some niche markets that MVNOs could adopt. I would expect that there's some linkage now between MVNOs and some of the payment services that are now going into the market. So maybe an opportunity for new MVNOs is to link essentially the provision of a data service with a payment service and then move into the market in that manner. And what would you like to see out of regulatory environments? Well, I think the regulators reducing their costs in terms of access into the market would probably be the best for MVNOs. I think that MVNOs are fairly effective in terms of infrastructure utilisation but they can offer other services to customers. So I think regulators would really support MVNOs in the way they address the marketplace. And finally, what's the value for you of attending events such as ITU Telecom World? Well, certainly here in Africa it gives me a bit of flavour for what's happening in the African market. I have global responsibility so I see what happens in South-East Asia. But coming to events like this gives me the opportunity to actually walk around, see the various country stands and also talk to the various entrepreneurs because I'm always very interested to see what new ideas are coming out in different markets. And I think that events like this effectively inspire me in terms of thinking of ways of providing new services into the marketplace. Well, it's been great. Thanks very much for those insights and we look forward to catching up with you at some stage in the future and enjoy the rest of the conference. Thank you very much Max. I really appreciate the opportunity. Cheers Craig. Thank you.