Telecommunication companies should be considered as companies using the so-called subscription-based business model, where the customer pays a fixed subscription fee for access to a product or service. The level of monthly average revenues per user (ARPU) from basic service is rather low in most of the European countries. Among the countries in Europe, there is a large dispersion in ARPU per client and amount of delivered services.
A common problem in the valuation of telecommunication companies is finding comparable data and markets for valuation. The objective of the investigations presented in this paper is recognition and classification of similarities and differences among European countries related to the telecommunication market. For this purpose, taxonomic measures, especially multivariate comparative statistical analysis methods were used. The author presented a model for comparison of the markets based on cluster analysis. The study covers selected European markets. These methods can be used for comparing markets in cases of enterprise valuations in the telecommunication sector and by level of development.