Swisscom AG

We're just over the hour, Mark.

Baron asked us that he's interested in Swiss stocks, Swiss RE, Zurich, Berberit, Swiss Life, Swisscom and one name that I can't pronounce.

Jungfraubahn.

Jungfraubahn, right.

So one thing I wanted...

So Munich was... awesome obviously coming off you know the momentum and i think the um the practitioner stories at the end of the day always steal the show for me like i love hearing from practitioners and builders you know people that are actually building the thing so like there was some swisscom just playstation just different you know things that were really really really really interesting um john howard also he had a great uh It was awesome.

If you haven't watched it, go back and watch it on YouTube.

Just kind of wondering, with workshops, with presentations and all these things, give us the founder's cut of AutoCon 5.

And then the two sort of standout trades of the week were the two from Switzerland.

So it was Sika Capital, the sort of building chemical supply company, and Swisscom.

Um, both of these Swiss issuers opted to do debut hybrid transactions, and they basically flew off the shelves.

I think, um, Sika actually had one of the highest bid to cover ratios on one of its tranches for any bond this year in euros.

Swisscom got a massive, massive book and then was able to bring the price in.

I think one banker told me it was Perhaps even close to a record tight senior sub there, which is pretty impressive for a debut trade.

So, um, yeah, definitely a pretty, pretty strong week for the German-speaking issuers.

It's very interesting to speculate, you know, what will happen in the relationship between operators and their traditional technology partners.

And, um, yeah, clearly operators like Vodafone but also, you know, Deutsche Telekom, Swisscom, Axiata, Jio, you're all insourcing a lot of your capabilities.

Yeah.

If you're insourcing, that means that for some parts of the business, your requirements from vendors are changing.

in Zurich.

Yes, and, um, after some time, um, Swisscom, which was the company we were consulting at, asked us, uh, if I could not come for half a year to help implement a certain kind of methodology for process optimization locally.

Mm-hmm.

Mm-hmm.And so I went, and everyone was like, "Wow-

...

even though you might not think from, from a US perspective.

Um, and out of that, I stayed at Swisscom for more than 10 years-

Oh, wow.