Telia (Buy, TP: SEK46, +12%) Telenor (Neutral, TP: NOK150, -6%) Telia RAN sharing deal a nice support (a negative for Telenor)

Telia has announced a RAN sharing deal with ICE in Norway. We look at the impact of this deal (first derivative and second derivative effects to both Telia and Telenor) and provide some feedback from a management meeting we had this morning with Telia CEO and CFO – which also includes commentary on the outlook in Finland and Sweden M&A.

Telia Company AB: 2 directors

Two Directors at Telia Company AB bought 15,880 shares at between 39.500SEK and 40.490SEK. The significance rating of the trade was 55/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing r...

Telia/ice RAN sharing: modest upside over time

TalkTalk (Equal Weight) Post-Q3 model update: The customer growth vs. SAC trade-off

Following the Q3 results yesterday, we have updated our forecasts to reflect weaker-than-expected subscriber trends in the quarter. While FY26 revenue guidance remains intact, the deterioration in customer volumes leads us to reduce our medium-term subscriber assumptions and, in turn, our longer-term revenue expectations. We assess the impact this has on value and the potential for higher future SAC spending.

Singtel (Buy, S$6.2, +29%) STT GDC acquisition – Strategically sensible, but near term share price consolidation likely

Singtel announced it is acquiring a 25% stake in STT GDC. The deal was well flagged and we believe makes strategic sense but the detail is slightly underwhelming suggesting the stock is likely to see some profit taking near term.

The Match Group (MTCH, Neutral, $31 target) Turnaround continues but Tinder monetization inflection still not on the horizon

In this first take following tonight’s results, we focus on: 1. More progress at Tinder, Hinge humming, buying back another 7% of stock 2. Investments in marketing/user experience drive improving Tinder MAU declines 3. Could Hinge be bigger than Tinder eventually? 4. Capital return is still robust as the dividend is increased