Global EM Telcos Why are governments allowing mobile price hikes?

We note EM Governments & regulators appear to have become much more relaxed about mobile ARPU growing above inflation relative to the recent past. Why is this? This note gives one possible explanation.

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 10/02/2025

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 02/10/2025

Deutsche Telekom : Upgrade to Outperform (vs Neutral) based on four fa...

Deutsche Telekom : Opinion relevée à Surperformance (vs Neutre) sur 4 ...

Global EM Telcos & Towers First down month, AMX into the Top-10 for T...

After 8 extremely strong months, September bucked the trend. 6 of our Top Picks saw profit taking with only Airtel Africa, Millicom, Telefonica Brasil and LILAC posting positive returns. This note also includes key news & other thoughts, to try to help investors generate alpha within the EM Telco space. Having strongly outperformed we switch out Millicom for AMX which we now see as a cheaper, lower risk, way to play Latin American telcos.

CityFibre Q3: Significant customer acceleration with Sky launch & BT ...

CityFibre has just released a Q3 trading update which highlights the acceleration in customer volumes that they are seeing with Sky – and this is likely to put incremental pressure on BT, especially if momentum accelerates further in Q4 which we think could be likely.

UK Fixed Market Review: Fewer lines to go round BT back to Neutral. D...

We now think the UK physical broadband line market is shrinking for the first time due to the impact of high penetration, FWA, satellite, mobile tethering and low economic growth. It is difficult to see this structural trend changing in the foreseeable future and we therefore adjust our view of UK fixed market growth – cutting our 2030 forecast for UK wireline broadband lines by 10%.

Coffee, Croissants & Credit/Deutsche Telekom, T-Mobile US, BPPEHX, P3 ...

Telecom - Moody's upgrades Deutsche Telekom's credit rating to A3. Moody's upgrades T-Mobile US's credit rating to Baa1

Global EM Telcos Why are governments allowing mobile price hikes?

We note EM Governments & regulators appear to have become much more relaxed about mobile ARPU growing above inflation relative to the recent past. Why is this? This note gives one possible explanation.

Deutsche Telekom AG: 1 director

A director at Deutsche Telekom AG sold 42,560 shares at 28.424EUR and the significance rating of the trade was 100/100. 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 cl...

IBERIAN DAILY 24 SEPTEMBER (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: INDRA, REPSOL, TELEFÓNICA. Transitional session brings gains European stock markets rallied, spurred by optimism on the positives of AI and the expected greater economic dynamism. In the STOXX 600, the gains were led by Autos and Consumer Goods, whereas defensive sectors like Pharma and Food suffered the biggest drops. On the macro side, in the euro zone the preliminary manufacturing PMI for September fell into a zone compatible with falling activity levels (49.5), while the servi...

INFORME DIARIO 24 SEPTIEMBRE (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: INDRA, REPSOL, TELEFÓNICA. Ganancias en una sesión de transición Rebote en las bolsas europeas aupadas por el optimismo sobre las bondades de la IA y el esperado mayor dinamismo económico. En el STOXX 600 lideraron las subidas Autos y B. Consumo mientras que defensivos como Farma y Alimentación sufrieron las mayores correcciones. Por el lado macro, en la Eurozona el PMI manufacturero preliminar de septiembre retrocedió a terreno compatible con caí...

IBERIAN DAILY 19 SEPTEMBER (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: AENA, CAF, FCC, TELEFÓNICA, VISCOFAN. The Fed spurs the markets Following the expected rate cut by the Fed, European stock markets reacted with sharp rises of more than +1.5%. The IBEX lagged behind and closed with slight losses due to the lack of technology stocks. In the STOXX 600, Technology was once again the big winner, with Utilities and Basic Materials falling the most. On the macro side, in the US the Philadelphia Fed manufacturing index rose sharply in August. Weekly jobl...

INFORME DIARIO 19 SEPTIEMBRE (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: AENA, CAF, FCC, TELEFÓNICA, VISCOFAN. EUROPA: ESSILORLUXOTTICA. La Fed anima las bolsas Tras la esperada bajada de tipos por parte de la Fed, las bolsas europeas reaccionaron con fuertes avances por encima del +1,5%. El Ibex se quedó rezagado y cerró con tímidas pérdidas por la ausencia de representación tecnológica. Así, en el STOXX 600 Tecnología volvió a liderar con fuerza los avances frente a Utilities y R. Básicos que fueron los que más cayero...

TalkTalk (1st lien: From Overweight to Neutral) Update on new initiat...

In early June, we upgraded the TalkTalk 1st lien debt to Buy – and it has since rallied from 45 to 75. We have also now seen a good degree of the Consumer changes that TalkTalk highlighted were coming earlier this year and based on what we have seen, we see no reason to change our existing forecasts. In this note, we therefore run through the new initiatives, the valuation and hence, the driver of our decision to move the 1st lien bonds back to Neutral.

BT (Buy, £2.65, +33%) What the Mittal board seats mean for future shar...

BT has announced that Bharti Global’s economic stake in the company now exceeds 20%, and that Bharti Global will therefore be taking two new Board seats.

Moody's Ratings assigns Baa3 rating to Vodafone's new hybrid notes due...

Moody's Ratings (Moody's) has today assigned a Baa3 rating to the two EUR-denominated hybrid securities both with maturity in 2055 to be issued by Vodafone Group Plc (Vodafone or the company). The outlook is unchanged at stable. RATINGS RATIONALE The Baa3 rating assigned to the new hybrids is on...

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 09/12/2025

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 12/09/2025