NENT Group (Buy, TP: SEK280.00) - Our take on the Nordic satellite deal
After nearly 15 years of market speculation, the Nordic satellite pay-TV deal between Viasat (NENT) and Canal Digital (Telenor) is finally taking place. We expect the 50/50-owned JV to bring substantial cost synergies, and strengthen NENT’s remaining business (particularly the Viaplay streaming business, which should be able to upsell into the sizeable JV, which should enjoy lower churn). The deal is subject to EU regulatory approval and is set to close in H1 2020. Finally, the deal supports our view of rising consolidation trends and that NENT is well placed for it. We expect a substantial (up to c15%) positive share price reaction tomorrow.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.