New Street Research - TPG Telecom Limited (TPM) New Street: Initiating coverage of TPG Telecom, Merge Co: A new mobile company facing a steep road to recovery

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New Street Research

Ian Martin

New Street: Initiating coverage of TPG Telecom, Merge Co: A new mobile company facing a steep road to recovery

We initiate research coverage of TPG Merge Co (proposed ASX: TPG) following the vote by TPG (ASX:TPM) shareholders to go ahead with the VHA merger today.

24/06/2020 27 EN

Underlying

TPG Telecom Limited

TPG Telecom is a telecommunications company based in Australia. Co. has three operating segments: Consumer, which provides retail telecommunications services to residential and small business customers; Corporate, which provides telecommunications services to corporate, government, and wholesale customers; and iiNet, which provides telecommunications and technology services to residential and business customers.

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AU000000TPM6 Australia

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New Street Research

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:

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Pan European Telecom Services and Cable

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Analysts

Ian Martin

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New Street: Initiating coverage of TPG Telecom, Merge Co: A new mobile company facing a steep road to recovery

Monthly LMI Update Independent Investment Research

New Street Australian & New Zealand telecommunications: 2020 Hindsight, 2021 Insight

New Street: TPG Telecom: Vodafone wants its mojo back

Frontier / Verizon Deal - The case for a higher price

NSR Policy: Implications of Multiple Mergers at the FCC

Besi: risk of a 2025 miss; secular growth story intact. Maintain Buy rating. €160 TP.

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