Report

New Street: Are Emerging Market Telcos bad businesses?

One of the commonest received wisdoms one hears as a telecom analyst in emerging markets is that telcos are “bad businesses”.
Underlyings
Advanced Info Service Public Co. Ltd.

Advanced Info Service Public Co., via its subsidiaries, is engaged in the operation of a 900 MHz cellular telephone system, the acting as a service provider of online data communications service via telephone land lineand optical fiber and service provider of call center and service provider of digital mobile phone network; distributor of cash card business; service provider of electronic payment and cash card; service provider of international telephone service/gateway; andservice provider of cellular telephone network in 2.1-GHz and 1800MHz frequency. As of Dec 31 2015, Co. had three segments: mobile phone and call center services; mobile phone sales; and datanet and broadband services.

America Movil S.A.B. de C.V. ADS

CHINA TELECOM CORP LTD-H

Telekomunikasi Indonesia Tbk PT (ADR)

Provider
New Street Research
New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

  • Pan European Telecom Services and Cable
  • US Telecoms, Cable, Satellite and Towers
  • Global Emerging Market Telecoms
  • Japan Telecoms
  • Asian Internet
  • Pan European Healthcare
  • Global healthcare thematic research

We provide debt research on:

  • Pan European Telecom Services and Cable


Analysts
Chris Hoare

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