Bharti: Jio Worries Overdone. Recovery Continues
Jio has built a huge amount of wireless capacity in an Indian context, but India is a very large country, with thin incumbent networks. If Jio...
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Emerging Market Telecoms: Returns Have Bottomed. Outlook Improves.
Returns in emerging market wireless telecoms have bottomed as the sector takes a capex holiday after the 4G roll-out. We continue to like...
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Bharti Infratel: The Squeeze Is Here
When we wrote about Bharti Infratel (BHIN) in February there was considerable push back on the idea that margins would be squeezed. We believe the...
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Bharti: Some Exposure to Nigerian Devaluation, but Recovery Story Remains Intact
The Central Bank of Nigeria finally agreed to devalue the Naira and move to a ‘purely market-driven’ currency system from Monday (20th June). There...
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Indian Telcos: Optimistic Outlook as IDEA Reduces Price Competition
We recently met telecom operators in India and came away with a relatively optimistic outlook. Our top pick remains Bharti Airtel (Bharti) but we...
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