Proximus faces tough competition.
Proximus reported 2016 results in line with our projections, and we expect to maintain our fair value estimate and narrow moat rating. We believe the shares are fairly valued. The firm reported revenue of EUR 5,871 million versus our projection of EUR 5,860 million. The consumer fixed-line division grew 1.7% in the fourth quarter, driven by an 11.2% gain in its pay-TV business and 4.9% in fixed data. Proximus continues to push additional services in order to increase its triple- and quad-play cu...Proximus supplies integrated telecommunications services on the Belgian market. Co.'s activities are divided into four segments: Consumer Business Unit (CBU), which sells voice products and services, internet and television, on fixed and mobile networks, to residential customers; Enterprise Business Unit (EBU), which caters to professional customers; Service Delivery Engine and Wholesale, which centralizes all the network and IT services and costs, provides services to CBU and EBU and sells these services to other telecom and cable operators; and International Carrier Services, which focuses on international carrier activities.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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