Proximus (Neutral, TP: €11.2, +108%) Probably the most interesting story in the sector
Proximus had a tough 2024, with the shares down -42% vs the SXKP up +24%. Is it time to buy given the relative underperformance? Yes and no, it depends on one’s time frame.Proximus supplies integrated telecommunications services on the Belgian market. Co.'s activities are divided into four segments: Consumer Business Unit (CBU), which sells voice products and services, internet and television, on fixed and mobile networks, to residential customers; Enterprise Business Unit (EBU), which caters to professional customers; Service Delivery Engine and Wholesale, which centralizes all the network and IT services and costs, provides services to CBU and EBU and sells these services to other telecom and cable operators; and International Carrier Services, which focuses on international carrier activities.
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