New Street: Global EM Telcos Arguing against a bull market...in the middle of a bull market
We have written a series of notes laying out our thesis that EM telcos are good investments going forward. Many investors remain unconvinced. This note simply looks at the share price performance already seen which shows that those who argue against the possibility of an EM Telco bull market are doing so in the middle of a powerful EM Telco bull market; many large, liquid EM Telcos are up 40-100%+ in the last year. If this isn’t a bull market, we don’t know what is. Furthermore, performance correlates with consolidation
Bharti Airtel provides telecommunication systems and services to individuals and businesses in India with operations in 20 countries across Asia and Africa. In India, Co.'s product offerings include 2G, 3G and 4G wireless services, mobile commerce, fixed line services, high speed DSL broadband, IPTV, DTH, enterprise services including national & international long distance services to carriers. In the rest of the geographies, it offers 2G, 3G wireless services and mobile commerce. Co. had nearly 287 million customers across its operations at the end of Dec 2013.
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
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