New Street: Telenet (Neutral, €39, +20%) Q3 results: A guidance upgrade, but Fluvius overhang will still persist
Telenet has announced decent Q3 results with a modest guidance upgrade; the official start of the process that could lead to a towers transaction; further details on the creation of a new NetCo with Fluvius – albeit we will still to wait until 2022 for more details; and a new share buyback.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.
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