Jefferies


Orange ‘resilient’ in face of COVID-19

Orange’s performance has been “impressively resilient” in the French and Polish markets and the company is well paced to withstand the impact of COVID-19, despite ongoing weakness in its Spanish operation, according to analysts from Jefferies. According to the analysts, conversations with management ahead of the company’s Q2 results on July 30 indicated confidence that […]

KKR and Cinven bid for MásMóvil could pave way for Spanish shake-up

Private equity groups KKR and Cinven have teamed up to make a friendly takeover bid for Spain’s fourth-ranked telecom operator MásMóvil for up to €2.963 billion, which could pave the way for a long-awaited shake up of the Spanish telecom market.   The funds are offering €22.50 a share for the operator, which has been […]

Analysts heap praise on Eutelsat as broadcast revenues hold up

Amid problems elsewhere in the satellite sector, analysts have given a strong vote of confidence in satellite operator Eutelsat after it posted solid fiscal Q3 results that showed modest quarter-to-quarter growth in the challenged broadcast segment and a stable year-on-year performance in broadcast. Analysts at Berenberg said that “Eutelsat’s Q3 revenue release once again highlighted to us that the company’s cash flows are […]

Orange Belgium slams regulator’s draft ruling on cable wholesale access

Orange Belgium has called for “material improvement” in new wholesale cable tariffs included a draft ruling by the CRC, which groups together several Belgian regulators. Orange complained that the draft, which has been submitted to the EC for approval, would undermine its strategy of offering a convergent offering. It said that the draft implies a […]

Telia takes Coronavirus hit through exposure to free TV market

While the majority of telcos are weathering the Coronavirus storm well relative to other sectors, Nordic telco Telia’s recent acquisition of TV4-owner Bonnier Broadcasting and its consequent exposure to the advertising market and the cancellation of sports events has forced an admission that it will not make its financial guidance goals this year. Telia said […]

Dutch ruling ‘unlikely’ to impact Belgian cable wholesale regulation

The rejection by a Dutch court of cable wholesale regulation is unlikely to be followed by Belgium, according to analysts at Jefferies, with the two countries’ respective regulators making different assumptions in implementing the rules governing access to cable networks. Analysing the likely performance of Belgian telcos Proximus and Orange Belgium in light of the […]

Jefferies: Sky more likely to team up with BT Openreach than Virgin Media for fibre

Sky is more likely to partner with BT Openreach to extend its fibre broadband reach in the UK than to sign a much-speculated on wholesale deal with Liberty Global-owned Virgin Media, according to analysts from Jefferies. Jefferies gave BT a ‘buy’ rating but predicted a cut in its dividend per share from next year to […]

Satellite operators cut out as FCC decides on public C-Band auction

The US FCC has unveiled plans to hold a public auction of the C-band spectrum currently used by satellite operators in a move that attracted immediate criticism from the C-band Alliance (CBA), the group comprising satellite players Intelsat, SES and Telesat that had lobbied for a private sale of spectrum.  FCC chairman Ajit Pai said […]

Bouygues Telecom turns in solid Q2

French service provider Bouygues Telecom has posted solid Q2 numbers, with growth in both its fibre and mobile bases. In the fixed segment, its FTTH base continued to grow, with 176,000 new customers added in first-half 2019, of which 82,000 were in the second quarter. The FTTH penetration rate reached 20% at end-June 2019 versus […]

Jefferies: Telefónica making ‘rational’ response to aggressive football promos

Analysts at investment bank Jefferies have given an upbeat assessment of Telefónica’s prospects and has suggested that concerns about aggressive football promotions having a detrimental impact are overstated. According to Jefferies, Telefónica’s response to intensifying competition has been rational, with less aggressive discounting in response to Orange and its low-cost brand Jazztel’s moves to acquire […]