MEGA (Buy, TP: MXN75, +30%) AMX (Neutral, TP: USD22, +9%) TV (Buy, TP: USD8.5, 48%) Mexican Telecoms 2023 - Cable deal / Wireless Outlook - Upgrade MEGA to Buy, keep AMX on Neutral
We think Televisa is very likely to come back and sweeten the Nov 14th offer for Megacable. And soon. Even on currently proposed terms, should the deal progress we would see 50% upside for MEGA from here, whilst improved terms could push value toward the MXN100/share level for today's shareholders.
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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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
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- Pan European Healthcare
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We provide debt research on:
- Pan European Telecom Services and Cable
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