New Street Research - VIRGIN MEDIA (VMED) Virgin Media O2: Q1 23 - The calm before the price rise Liberty Global (Buy), Telefonica (Buy)

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New Street Research

James Ratzer

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Virgin Media O2: Q1 23 - The calm before the price rise Liberty Global (Buy), Telefonica (Buy)

Although Liberty reported their results last night, we only get the detailed results for VMO2 this morning, and in the short note, we do a deeper dive on the key new information in advance of their April price rise.

10/05/2023 1 EN

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VIRGIN MEDIA

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New Street Research

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James Ratzer

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Virgin Media O2: Q1 23 - The calm before the price rise Liberty Global (Buy), Telefonica (Buy)

VirginMedia-O2 Detailed review - with focus on nexfibre and leverage levels

EU Towers CTIL transaction at markdown multiple

Virgin Media O2: Deeper dive on the disappointing outlook Liberty Global (Buy, $27, +35%), Telefonica (Buy, €4.9, +36%)

Alphabet (GOOGL, Buy, $213 target) Forget Chrome, 3P payments are the heart of the issue

SATS: DBS merger breaks

3Q24 Broadband Trends: FWA capacity limits; FWA demand limits

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