Introduction: Company Transformation — Corporatisation, Privatisation and Company Behaviour
This chapter introduces the transformation of Western European telecommunications companies from state agencies to listed companies over a period of 15 years from the late 1980s on. It presents the telecommunications and other public sector privatisation processes have focused on regulatory issues and the British case of direct transformation from a state agency to a private company. The rules and regulation of European Union competition policy is also of importance for regulating the corporatisation process and the business behaviour of the former incumbents. The corporatisation of public service production introduces a separation of ownership and control. The traditional hierarchical organisation gives the possibility of using instructions on every aspect of the production. The success and failures of the investments has implications of financial magnitude that were more important than the traditional running of the national businesses. The chapter also presents an overview of the key concepts discussed in this book.