Report
Altice France : Positive mid-term guidance seems to be back-end loaded
We continue to like the fundamentals of Altice France, which is operating in a competitive telecoms market, but not irrational. The company has potential to 1/ upsell customers with fibre products in fixed (59% penetration at end-2021) and 5G services in the mid-term in mobile, 2/ streamline its cost base and 3/ reduce capex from 2024, after progress on fibre/5G deployments will be made. We are still confident about the mid-term deleveraging prospects of Altice France towards its...
Underlying
SFR Group SA
Provider
Oddo BHF
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Pierre François Merveille
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