Google backs Vodafone and AT&T in red tape row "Regulators should stop cutting mobile termination rates, pushing down roaming prices, building funny auctions which are designed to extract more money from existing operators, and resisting industry consolidation," he said. Does Europe need employment or does Europe need rate cuts? We should stop having this continuous intervention on prices and let the industry reinvest the money. The reality is, we have a heaven scenario or a hell scenario. The hell scenario is every year we lose hundreds of millions to mobile termination rates and we reduce our investment. Investment means jobs not just in the telecoms sector, but in the media, entertainment and applications developer sectors. Ralph de la Vega, chief executive of Vodafone's US counterpart AT&T, echoed his comments, claiming that regulation was stifling innovation. However, Ms Kroes did not take kindly to the public outburst. She issued a strongly-worded statement warning Vodafone off and underscoring her allegiance to consumer interests. "Message to Vittorio and Vodafone: I call your bluff, and indeed do not respond well to threats," she said. I remind everyone that we want to get the mobile sector more spectrum and a bigger market.