Tele2 Reported Solid 2018 Results, but Provided Weak 2019 Revenue Guidance; Shares Overvalued
Tele2 reported 2018 results that were a bit ahead of our expectations, but management’s guidance was mixed with relatively weak revenue expectations partially offset by higher planned cost savings from its acquisition of Com Hem. We don’t expect any significant change to our SEK 91 per share fair value estimate and continue to believe the company has no moat and that the stock is overvalued.Tele2 sold its Dutch operations on Jan. 2, 2019 and has exercised its right to sell its operation in Kaza...
Tele2 is engaged as a telecom operator. Co. provides mobile communication services, fixed broadband and telephony, data network services and content services. The mobile service comprises various types of subscriptions for residential and business customers as well as prepaid cards. Fixed broadband includes direct access, which is its own services based on access via copper cable and other forms of access, such as fibre networks, wireless broadband and metropolitan area networks. Fixed telephony includes resold products within fixed telephony. The product portfolio within resold fixed telephony consists of prefix telephony, pre-selection (dial the number without a prefix) and subscriptions.
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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