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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

Equity Bottom-Up

<p><a href="https://www.smartkarma.com/entities/21085" target="_blank" data-smartkarma-citation="entities:21085">Naspers Ltd</a> (Naspers) is the major shareholder of leading Chinese internet firm <a href="https://www.smartkarma.com/entities/26" target="_blank" data-smartkarma-citation="entities:26">Tencent Holdings Ltd</a> (Tencent) with a 33.5% stake. It is South African listed and has a market cap of US$54bn. Naspers' stake in Tencent alone is worth nearly $60bn so the market seems to assume negative values for the rest of the businesses. This is patently unfair and we think there is a compelling investment case to hold Naspers, both as a proxy for its Tencent holding as well as its developing internet holdings globally. These are now past peak funding and starting to deliver real revenue growth.</p>

Naspers Ltd (Naspers) is the major shareholder of leading Chinese internet firm Tencent Holdings Ltd (Tencent) with a 33.5% stake. It is South African listed and has a market cap of US$54bn. Naspers' stake in Tencent alone is worth nearly $60bn so the market seems to assume negative values for the rest of the businesses. This is patently unfair and we think there is a compelling investment case to hold Naspers, both as a proxy for its Tencent holding as well as its developing internet holdings globally. These are now past peak funding and starting to deliver real revenue growth.

Naspers

Naspers. More than a Ten(Percent) Story