TPG Telecom Mobilises in Singapore; Fair Value Estimate Dialled Down 6% to AUD 8.00 per Share
We have cut our fair value estimate for narrow moat-rated TPG Telecom by 6% to AUD 8.00 per share, following its spectrum win in Singapore.The market appears to have taken the news largely in its stride. Perhaps it was the manageable quantum of the capital outlay required to become the fourth mobile operator in the market (SGD 105 million plus SGD 200 to 300 million in rollout costs). Maybe it was management's projection for EBITDA breakeven at a mobile market share of just 5% to 6%. Or it may ...
TPG Telecom is a telecommunications company based in Australia. Co. has three operating segments: Consumer, which provides retail telecommunications services to residential and small business customers; Corporate, which provides telecommunications services to corporate, government, and wholesale customers; and iiNet, which provides telecommunications and technology services to residential and business customers.
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