AMX (Buy, TP $27, +29%) MEGA (Neutral, TP: MXN43, +2%) TV (Neutral, TP: USD5.0, +0%) Mexican Cable/FTTH Q2s - Megacable gaining share at Izzy's expense; Market review
Megacable reported Q2s after close, a few hours after TotalPlay (under our HY coverage) also reported. We now have a complete picture of the Mexican fixed market for Q2. MEGA posted strong RGU net adds (again), helped by the acceleration in its network deployment, and saw its mass market revenue growth accelerate to 10% y/y from 8% in Q1.
Megacable Holdings and its subsidiaries are engaged in the installation, operation, maintenance and exploitation of cabling network distribution, internet and telephone systems.
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