Differentiated global TMT & Internet Research

New Street Research Insights

New Street Research

Research is provided by our team of experienced analysts. Our work is idea driven, based on independence of thought, sector expertise, and firmly focused on fundamentals and valuation of telecoms and internet names globally. New Street is headquartered in London with offices in New York, Singapore and Australia. 

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

Pan European Telecom Services and Cable
US Telecoms, Cable, Satellite and Towers
Global Emerging Market Telecoms
Japan Telecoms
Asian Internet
Pan European Healthcare
US Healthcare
Japanese Healthcare

We also provide debt research on:
Pan European Telecom Services and Cable

Thematic (Sector/Industry)

<p>The rise of data usage in Emerging Markets delivers increased benefits of scale to operators. Capex and spectrum holdings become key weapons to gain market share. This tends to play well for large incumbents; large dominant telcos are increasing their dominance. With increased share of profits flowing to a dominant player, returns for the smaller players can fall to unsustainable levels. &nbsp;A number of outcomes are possible.</p><ol><li>If the government does not own a large stake in the dominant player then asymmetric regulation is likely to benefit the smaller players.&nbsp;</li><li>Where the government owns a stake in the dominant player, asymmetric regulation is less likely and instead a deeper consolidation of smaller players may be allowed.&nbsp;</li><li>In markets where existing players generate high returns we see a risk of new entry to erode returns. Small cell challengers are likely to be part of this picture.&nbsp;</li></ol><p>&nbsp;</p>

The rise of data usage in Emerging Markets delivers increased benefits of scale to operators. Capex and spectrum holdings become key weapons to gain market share. This tends to play well for large incumbents; large dominant telcos are increasing their dominance. With increased share of profits flowing to a dominant player, returns for the smaller players can fall to unsustainable levels. &nbsp;A number of outcomes are possible.If the government does not own a large stake in the dominant player then asymmetric regulation is likely to benefit the smaller players.&nbsp;Where the government owns a stake in the dominant player, asymmetric regulation is less likely and instead a deeper consolidation of smaller players may be allowed.&nbsp;In markets where existing players generate high returns we see a risk of new entry to erode returns. Small cell challengers are likely to be part of this picture.&nbsp;&nbsp;

The Urge to Merge - EM Telcos Look at Consolidation

Pakistan

Pakistan Telecommunication Company Limited provides fixed line domestic and international telephone services, telex, telegraph, fax and leased circuit services in Pakistan. The Company owns all public exchanges, the nationwide network of local telephone lines, principal long distance transmission facilities and international telephone gateways in Pakistan.

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Pakistan Telecom (PTC PA)

The Urge to Merge - EM Telcos Look at Consolidation

The rise of data usage in Emerging Markets delivers increased benefits of scale to operators. Capex and spectrum holdings become key weapons to...

New Street Research

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