Telefonica Deutschland Holdings

Telefonica Deutschland Holding is a telecommunication company. Co. offers its consumer retail and business customers postpaid and prepaid wireless communications products, along with wireless data services using Global Packet Radio Service, Universal Mobile Telecommunications System and Long Term Evolution technology as well as Digital Subscriber Line wireline telephony and high-speed internet services. Co. markets its products and its wireless and wireline communications products as well as services via the core brand O2. Co.'s secondary brands include the brands Fonic and netzclub. Co. also markets high-speed DSL internet access and wireline telephony.
  • TickerO2D
  • ISINDE000A1J5RX9
  • SectorMobile Telecommunications
  • CountryGermany
Russell Waller

New Street: W. Europe Mobile Tariff Tracker June 2020: Discounting returns to Switzerland

Average mobile package price growth in Europe declined to -2.1% YoY in June (vs. +0.2% in May), driven by the re-introduction of discounts in Switzerland, and the lapping of price rises in Italy.

James Ratzer

New Street: O2D: Move to Reduce (€1,5, -46%): Structural headwinds on the way

We downgrade Telefonica Deutschland to Reduce. We see structural headwinds from the eventual migration of the Drillisch wholesale contract which O2D is overly reliant on; rising lease payments and ongoing spectrum auctions.

ING
Alyssa Gammoudy ...
  • Hendrik Wiersma
  • Jeroen van den Broek
  • Nadège Tillier
  • Suvi Platerink Kosonen
  • Timothy Rahill

Coffee, Croissants & Credit/Telefónica

TMT: Telefónica CEO expects boom in deals for European telcos

Stephane Houri

Ageas : Digitalisation post-COVID : quelles conséquences sur nos secteurs et valeurs ?

Cette note transversale du bureau d’étude ODDO BHF a pour but d’identifier les secteurs et valeurs positivement impactés ou en risque face à une accélération de la digitalisation de la société et de l’économie post COVID-19. Nous ressortons avec 16 valeurs attractives et 12 valeurs en risque. - >Digitalisation accélérée, pas de retour en arrière - La crise du COVID-19 va sans aucun doute accélérer l’utilisation du numérique dans la société en général. Le télétravail a ...

James Ratzer

New Street: O2D: Tower sale to help liquidity - but rural drag lowers headline multiple

O2D has announced the sale of 10,100 towers to Telxius (Telefonica’s infrastructure subsidiary) for €1.5bn in cash which could help future cash returns.

Russell Waller

New Street: W. Europe Mobile Tariff Tracker June 2020: Discounting returns to Switzerland

Average mobile package price growth in Europe declined to -2.1% YoY in June (vs. +0.2% in May), driven by the re-introduction of discounts in Switzerland, and the lapping of price rises in Italy.

James Ratzer

New Street: O2D: Move to Reduce (€1,5, -46%): Structural headwinds on the way

We downgrade Telefonica Deutschland to Reduce. We see structural headwinds from the eventual migration of the Drillisch wholesale contract which O2D is overly reliant on; rising lease payments and ongoing spectrum auctions.

Stephane Houri

Ageas : Digitalisation post-COVID : quelles conséquences sur nos secteurs et valeurs ?

Cette note transversale du bureau d’étude ODDO BHF a pour but d’identifier les secteurs et valeurs positivement impactés ou en risque face à une accélération de la digitalisation de la société et de l’économie post COVID-19. Nous ressortons avec 16 valeurs attractives et 12 valeurs en risque. - >Digitalisation accélérée, pas de retour en arrière - La crise du COVID-19 va sans aucun doute accélérer l’utilisation du numérique dans la société en général. Le télétravail a ...

James Ratzer

New Street: O2D: Tower sale to help liquidity - but rural drag lowers headline multiple

O2D has announced the sale of 10,100 towers to Telxius (Telefonica’s infrastructure subsidiary) for €1.5bn in cash which could help future cash returns.

Russell Waller

W. Europe Mobile Tariff Tracker May 2020: Pricing dynamics improve in France, Germany and Italy

Average mobile package price growth in Europe recovered to +0.2% YoY in May (after declining by -3.1% YoY in April), with the recovery driven by improving YoY trends across the key markets of France, Germany and Italy.

ING
Alyssa Gammoudy ...
  • Hendrik Wiersma
  • Jeroen van den Broek
  • Nadège Tillier
  • Suvi Platerink Kosonen
  • Timothy Rahill

Coffee, Croissants & Credit/Telefónica

TMT: Telefónica CEO expects boom in deals for European telcos

ING
Alyssa Gammoudy ...
  • Hendrik Wiersma
  • Jeroen van den Broek
  • Nadège Tillier
  • Suvi Platerink Kosonen
  • Timothy Rahill

Coffee, Croissants & Credit/ Bank dividends, Telefónica & BP

Financials: The ESRB to recommend no dividends to be paid by EU banks or insurers until the end of 2020

ING
Alyssa Gammoudy ...
  • Hendrik Wiersma
  • Jeroen van den Broek
  • Nadège Tillier
  • Suvi Platerink Kosonen
  • Timothy Rahill

Coffee, Croissants & Credit/PEPP, Telefónica, ENI & European Utilities

Strategy: PEPP expanded and extended but no sign of high yield support

ING
Alyssa Gammoudy ...
  • Hendrik Wiersma
  • Jeroen van den Broek
  • Nadège Tillier
  • Suvi Platerink Kosonen
  • Timothy Rahill

Coffee, Croissants & Credit/Société Générale and Telefónica

Financials Fitch downgrades Société Générale with execution risks and Covid-19 effects TMT EC's decision to block Hutchison's acquisition of Telefónica's O2 UK annulled

ING
Hendrik Wiersma

Telefónica/UK joint venture supports further deleveraging

Telefónica and Virgin Media will merge their operations in the UK into a 50/50 joint venture. Following this transaction, Telefónica expects to reduce its net debt by £5.5-5.8bn, thus supporting further deleveraging of the balance sheet. Telefónica now trades significantly outside Vodafone. Based on the creation of the joint venture and the 1Q20 report card, we see room for outperformance for Telefónica versus Vodafone.

Ahmed Ben Salem ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Benoit Valleaux
  • Bruno Cavalier
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emmanuel Matot
  • Geoffroy Michalet
  • Jerôme Bodin
  • Laurence Hofmann
  • Stephane Houri
  • Sven Edelfelt
  • Virginie Rousseau
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/28/2019

...

Ahmed Ben Salem ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Benoit Valleaux
  • Bruno Cavalier
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emmanuel Matot
  • Geoffroy Michalet
  • Jerôme Bodin
  • Laurence Hofmann
  • Stephane Houri
  • Sven Edelfelt
  • Virginie Rousseau
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 28/10/2019

...

Alexandre Iatrides ...
  • Aurelien Sivignon
  • Baptiste Lebacq
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Hela Zarrouk
  • Jean-François Granjon
  • Jeremy Garnier
  • Jerôme Bodin

ODDO BHF Small & MIDCAP MORNING NEWS - 10/25/2019

...

Alain William ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Baptiste Lebacq
  • Benoit Valleaux
  • Charles Lepetitpas
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Khaled Ben Amor
  • Louis Boujard, CFA
  • Matthias Desmarais
  • Michael Foundoukidis
  • Nicolas David
  • Philippe Ourpatian
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/25/2019

...

Alexandre Iatrides ...
  • Aurelien Sivignon
  • Baptiste Lebacq
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Hela Zarrouk
  • Jean-François Granjon
  • Jeremy Garnier
  • Jerôme Bodin

ODDO BHF Small & MIDCAP MORNING NEWS - 25/10/2019

...

TELEFONICA DTL.HLDG.AG sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of TELEFONICA DTL.HLDG.AG (DE), a company active in the Integrated Telecommunications industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 4 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date February 4, 2020, the closing price was EUR 2.74 and its potential was estimated at EUR 3.06.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Expert Corporate Governance Service (ECGS)

Telefónica Deutschland – AGM 20 May 2020

General: The AGM is to be held in the form of a virtual AGM in accordance with the German Law to Mitigate the Consequences of the COVID-19 Pandemic. The physical presence of shareholders or their authorised proxies is not possible. The voting rights may therefore be exercised solely by postal vote or by granting authority to the proxies designated by the Company.   Item 2: We recommend to oppose the dividend proposal as the Company does not provide any justification why the dividend payment exceeds consolidated earnings for the eighth consecutive year.   Item 4: The remuneration system for...

Telefonica Deutschland – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS)

Etude de l'AG du 9/05/2017

General: The Company has chosen the legal option to opt-out from individual disclosure of Management Board members' remuneration. The AGM 2012 (before the Company's IPO) approved this resolution with an undisclosed majority of votes FOR. The approval is valid for a period of five years and then needs to be renewed. As the Company has not put forth a respective proposal again at this year's AGM, from financial year 2017 onwards Management Board members' remuneration will therefore have to be disclosed individually.Item 2: We recommend opposing the dividend proposal. ECGS believes that dividends...

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