Indian Telcos Struggle as Jio Gains More Ground. Bharti Doing Relatively Better than IDEA.

Vodafone IDEA Viability in Question. We Think They Need an $8-9bn Equity Injection..

Bharti Infratel: Cutting Forecasts as Major Customer Viability in Question.

Vodafone Adamant There Is No near Term Financing Requirement in India, but It Looks Precarious

Indian Telecoms. Vodafone/IDEA Squeezed by Jio and Needs to Raise More Capital.

Jio's Aggression Continues to Pressure Indian Telcos.

Bharti Airtel: Retroactive Outlook Revision

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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. 

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Equity Bottom-Up

<p>We wrote recently about the pressure on <a href="https://www.smartkarma.com/entities/22204" target="_blank" data-smartkarma-citation="entities:22204:1">Vodafone's (VOD LN)</a> Indian subsidiary's merger with  <a href="https://www.smartkarma.com/entities/15678" target="_blank" data-smartkarma-citation="entities:15678:1">IDEA (IDEA IN)</a>. The combined business, assuming the merger proceeds (and some doubts are starting to appear despite final approval) will remain under pressure even as synergies are delivered. It was another tough quarter for the Indian wireless operators, with revenue and profit continuing to slide, albeit at a slightly slower pace than seen in 3Q (affected by IUC cuts). Service revenues are now falling…</p>

We wrote recently about the pressure on Vodafone's (VOD LN) Indian subsidiary's merger with  IDEA (IDEA IN). The combined business, assuming the merger proceeds (and some doubts are starting to appear despite final approval) will remain under pressure even as synergies are delivered. It was another tough quarter for the Indian wireless operators, with revenue and profit continuing to slide, albeit at a slightly slower pace than seen in 3Q (affected by IUC cuts). Service revenues are now falling…

Jio Pressure Remains Intense on Incumbent Indian Telcos