New Street: Telenet (Buy, €37, +96%) Liberty Global (Buy, $37, +70%) Minority buy-in now makes more sense
While a number of recommendations have gone our way this year, sadly Telenet hasn’t with a weak share price performance YTD, and in the last few days it has been especially disappointing since the auction outcome. We therefore revisit our Telenet thesis based on the recent news; the impact on Liberty Global and why a buy-in might now make more sense for Liberty Global.
Telenet Group Holding is a holding company. Through its subsdiairies and its broadband network, Co. is engaged in the provision of cable television, including television services, broadband internet and telephony services to residential subscribers in Flanders and certain communes in Brussels as well as broadband internet, data and voice services in the business market throughout Belgium and parts of Luxembourg. In addition, Co. is engaged in the provision of mobile telephony services through a mobile virtual network operator partnership with Mobistar NV.
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
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We provide debt research on:
- Pan European Telecom Services and Cable
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