U.S. Telecom Potentially Undervalued Companies

Liberty Global

Market Cap: US$3.6b

Provides broadband internet, video, fixed-line telephony, and mobile communications services to residential and business customers.

Globe Telecom

Market Cap: US$315.3b

Engages in the provision of telecommunications services to individual consumers, corporate, and small and medium enterprise clients in the Philippines.

Orange Polska

Market Cap: US$10.4b

Provides telecommunications services for individuals, businesses, and wholesale customers in Poland.

SmarTone Telecommunications Holdings

Market Cap: US$4.7b

An investment holding company, provides telecommunication services in Hong Kong.

Cogeco

Market Cap: US$582.3m

Operates in the communications and media sectors in Canada and the United States.

Liberty Latin America

Market Cap: US$1.6b

Provides fixed, mobile, and subsea telecommunications services in Puerto Rico, Panama, Costa Rica, Jamaica, Latin America and the Caribbean, the Bahamas, Trinidad and Tobago, Barbados, Curacao, Chile, and internationally.

Telecom Italia

Market Cap: US$10.9b

Engages in the fixed and mobile telecommunications services in Italy and internationally.

GCI Liberty

Market Cap: US$954.1m

Through its subsidiaries, provides a range of data, wireless, video, voice, and managed services to residential customers, businesses, governmental entities, and educational and medical institutions in Alaska.

Gogo

Market Cap: US$955.7m

Provides broadband connectivity services to the aviation industry in the United States and internationally.

Deutsche Telekom

Market Cap: US$129.8b

Provides integrated telecommunication services worldwide.

APT Satellite Holdings

Market Cap: US$1.9b

An investment holding company, maintains, operates, and provides satellite transponder capacity and related services, satellite-based broadcasting and telecommunications services, and other services.

NOS S.G.P.S

Market Cap: US$1.9b

Engages in the telecommunications and entertainment business..

GCI Liberty

Market Cap: US$1.0b

Through its subsidiaries, provides a range of data, wireless, video, voice, and managed services to residential customers, businesses, governmental entities, and educational and medical institutions in Alaska.

Hutchison Telecommunications Hong Kong Holdings

Market Cap: US$5.2b

An investment holding company, engages in mobile telecommunications business in Hong Kong and Macau.

NTT

Market Cap: US$12.4t

Operates as a telecommunications company in Japan and internationally.

GCI Liberty

Market Cap: US$954.1m

Through its subsidiaries, provides a range of data, wireless, video, voice, and managed services to residential customers, businesses, governmental entities, and educational and medical institutions in Alaska.

NTT

Market Cap: US$12.4t

Operates as a telecommunications company in Japan and internationally.

Sunrise Communications

Market Cap: US$3.9b

Provides telecommunications services to residential and business customers in Switzerland.

Anterix

Market Cap: US$390.4m

Focuses on the commercialization of spectrum assets to enable the targeted utility and critical infrastructure customers to deploy private broadband networks and solutions.

Proximus

Market Cap: US$2.2b

Provides digital services and communication solutions in Belgium and internationally.

Sunrise Communications

Market Cap: US$3.9b

Provides telecommunications services to residential and business customers in Switzerland.

CITIC Telecom International Holdings

Market Cap: US$7.7b

An investment holding company, engages in the provision of international telecommunications services in Hong Kong, China, Macau, Singapore, and internationally.

Turkcell Iletisim Hizmetleri

Market Cap: US$202.9b

Provides converged telecommunication and technology services in Turkey, Belarus, Turkish Republic of Northern Cyprus, and the Netherlands.

Vodacom Group

Market Cap: US$269.3b

Provides communications products and services.

Verizon Communications

Market Cap: US$173.3b

Through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide.

Chorus

Market Cap: US$3.9b

Engages in the provision of fixed line communications infrastructure services in New Zealand.

Vodacom Group

Market Cap: US$242.8b

Provides communications products and services.

Sarana Menara Nusantara

Market Cap: US$31.4t

Owns and operates telecommunication towers for wireless operators in Indonesia.

iQSTEL

Market Cap: US$16.5m

Provides telecommunication services as a wholesale carrier of voice, short message service (SMS), and data for other telecom companies.

freenet

Market Cap: US$3.3b

Provides telecommunications, broadcasting, and multimedia services for mobile communications/mobile internet, and digital lifestyle sectors in Germany.

Globe Telecom

Market Cap: US$230.6b

Engages in the provision of telecommunications services to individual consumers, corporate, and small and medium enterprise clients in the Philippines.

TIM

Market Cap: US$59.2b

A telecommunications company, provides mobile, fixed, long-distance, data transmission, and broadband services in Brazil.

KT

Market Cap: US$12.1t

Provides integrated telecommunications and platform services in South Korea, rest of Asia, and internationally.

KDDI

Market Cap: US$10.1t

Engages in the provision of mobile telecommunications services in Japan and internationally.

Cogeco Communications

Market Cap: US$2.8b

Operates as a telecommunications corporation in Canada and the United States.

Okinawa Cellular Telephone

Market Cap: US$196.0b

Provides telecommunication and portable phone services in Japan.