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

Event-Driven

We had viewed CJ Hellovision (CJH) as a potential base for a 4th Korean telco operator. As we have seen in European markets, cable is valuable to cellular players, both to deliver data capacity and (when acquired) to remove potential competition. SK Telecom (SKT) is paying a high price but will now be able to challenge KT in fixed line offerings. The deal looks positive for CJH shareholders but this is Korea, and buying the target is fraught with danger as the acquiring company holds all the cards.&nbsp;All three operators have now reported 3Q15 results. SKT's showed some improvement and it is best positioned if tariff conditions deteriorate (least geared). The share price has been weak with the deal being seen as expensive (close to 2x market price) and potentially threatening the dividend. Our view is that the strategic benefits are significant.It will be interesting to see whether there is increased interest in the other large cable player (C&amp;M) which is PE owned and has been for sale for some time.&nbsp;

We had viewed CJ Hellovision (CJH) as a potential base for a 4th Korean telco operator. As we have seen in European markets, cable is valuable to cellular players, both to deliver data capacity and (when acquired) to remove potential competition. SK Telecom (SKT) is paying a high price but will now be able to challenge KT in fixed line offerings. The deal looks positive for CJH shareholders but this is Korea, and buying the target is fraught with danger as the acquiring company holds all the cards.&nbsp;All three operators have now reported 3Q15 results. SKT's showed some improvement and it is best positioned if tariff conditions deteriorate (least geared). The share price has been weak with the deal being seen as expensive (close to 2x market price) and potentially threatening the dividend. Our view is that the strategic benefits are significant.It will be interesting to see whether there is increased interest in the other large cable player (C&amp;M) which is PE owned and has been for sale for some time.&nbsp;

SKT's move to acquire CJ Hellovision removes a potential competitor and delivers fixed line scale

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Cross Asset Strategy

<ul>
<li>The local media have mentioned that nearly 200,000 people in Korea have invested in Terra (Luna) and TerraUSD.</li>
<li>The combined market caps of Luna and TerraUSD at their peaks were nearly $60 billion and nearly $57.4 billion has been wiped out in the past week.</li>
<li>Consequently, in the coming weeks there could be some domino effect of people in Korea that have borrowed money to invest in these risky cryptos selling other assets.</li>
</ul>


The local media have mentioned that nearly 200,000 people in Korea have invested in Terra (Luna) and TerraUSD.
The combined market caps of Luna and TerraUSD at their peaks were nearly $60 billion and nearly $57.4 billion has been wiped out in the past week.
Consequently, in the coming weeks there could be some domino effect of people in Korea that have borrowed money to invest in these risky cryptos selling other assets.


The Collapse of Luna - Big Negative Impact on 200k Investors In Korea

South Korea

SK Telecom Co., Ltd. is a Korean mobile and telecommunications operator. The Company provides cellular voice, wireless data, and wireless internet services. SK Telecom also offers fixed line services and platform services.

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SK Telecom (SKM US)

SKT's move to acquire CJ Hellovision removes a potential competitor and delivers fixed line scale

We had viewed CJ Hellovision (CJH) as a potential base for a 4th Korean telco operator. As we have seen in European markets, cable is valuable to...

New Street Research

The Collapse of Luna - Big Negative Impact on 200k Investors In Korea

The local media have mentioned that nearly 200,000 people in Korea have invested in Terra (Luna) and TerraUSD. Their combined values have collapsed...

Douglas Kim

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)