TPG Telecom's Unwelcome Easter Present to Mobile Incumbents; Fair Value Estimate Cut to AUD 6.60
We reduce our fair value estimate for narrow-moat TPG Telecom by 18% to AUD 6.60 per share. Around 8% of the cut is attributable to the dilutive effect of the AUD 400 million share issue, at AUD 5.25 per share, to partly fund the blitzkrieg plan to become the fourth mobile network operator in Australia. The rest reflects the negative impact of the AUD 2 billion upfront capital cost and the likely operating losses before the venture turns profitable in four years' time.We are surprised by the AU...
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.
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.
We have operations in 27 countries.
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.