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    Eric Race

    Vice President and Equity Research Analyst at Sanford C. Bernstein & Co., LLC

    Eric Race is a Vice President and Equity Research Analyst at Sanford C. Bernstein & Co., LLC, specializing in analysis of the payments sector. He covers major companies such as Visa, Mastercard, American Express, and PayPal, providing in-depth research and data-driven investment insights. With a track record recognized on professional platforms, Race is known for his rigorous financial modeling and comprehensive industry knowledge, though specific performance metrics and public rankings are limited. Since joining Sanford C. Bernstein, he has built his career primarily at the firm, supported by FINRA registration and relevant securities licenses.

    Eric Race's questions to Liberty Global (LBTYA) leadership

    Eric Race's questions to Liberty Global (LBTYA) leadership • Q1 2025

    Question

    Eric Race of Bernstein inquired about the competitive risk of structurally higher operating costs for DOCSIS versus full fiber in the Netherlands and asked for a specific time frame for the paused U.K. NetCo plan.

    Answer

    Executive Chairman Michael Fries addressed the NetCo pause by pointing to the second half of the year as the likely timeframe for Telefonica to share its strategic views. On network costs, he argued that the prohibitively high capital cost to build fiber in the Netherlands 'dwarfs any potential long-term OpEx efficiencies,' making DOCSIS the clear financial choice. Executive Enrique Rodriguez added that their modern HFC network is highly efficient to operate.

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