Global Telecom Undervalued over 20% based on DCF

Econet Wireless Zimbabwe

Market Cap: US$26.4b

Through its subsidiaries, primarily provides mobile telecommunications and related overlay services in Zimbabwe.

América Móvil. de

Market Cap: Mex$1.4t

Provides telecommunications services in Latin America and internationally.

KDDI

Market Cap: JP¥10.5t

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

Orange

Market Cap: €47.5b

Operates as a telecommunications operator in France and internationally.

AST SpaceMobile

Market Cap: US$35.4b

Designs and develops the constellation of BlueBird satellites in the United States.

Vodafone Group

Market Cap: UK£26.6b

Provides telecommunication services in Germany, the United Kingdom, rest of Europe, Turkey, and South Africa.

Advanced Info Service

Market Cap: ฿1.1t

Operates as a telecommunications company primarily in Thailand.

Chunghwa Telecom

Market Cap: NT$1.0t

Operates as an integrated telecommunications service provider in Taiwan and internationally.

Telefônica Brasil

Market Cap: R$132.0b

Operates as a mobile telecommunications company in Brazil.

Telefónica

Market Cap: €21.7b

Provides telecommunications services in Europe and Latin America.

Cellnex Telecom

Market Cap: €19.4b

Engages in the management of terrestrial telecommunications infrastructures in France, Italy, the United Kingdom, Spain, Poland, the Netherlands, Portugal, Switzerland, Denmark, Sweden, Ireland, and Austria.

Koninklijke KPN

Market Cap: €18.5b

Provides telecommunications and information technology (IT) services in the Netherlands.

MTN Group

Market Cap: R355.8b

Provides mobile telecommunications services in South Africa, Nigeria, South and East Africa, West and Central Africa, and the Middle East and North Africa.

Telia Company

Market Cap: SEK 188.3b

Provides communication services to businesses, individuals, families, and communities in Sweden, Finland, Norway, Denmark, Lithuania, Estonia, and Latvia.

Airtel Africa

Market Cap: UK£12.9b

Provides telecommunications and mobile money services in Nigeria, East Africa, and Francophone Africa.

Telecom Italia

Market Cap: €13.9b

Engages in the fixed and mobile telecommunications services and products for individuals, households, and supports small and medium-sized enterprises in Italy and internationally.

Tele2

Market Cap: SEK 135.5b

Provides fixed and mobile connectivity and entertainment services in Sweden, Lithuania, Latvia, and Estonia.

Etihad Etisalat

Market Cap: ر.س50.7b

Through its subsidiaries, establishes and operates mobile wireless telecommunication and fiber optic networks in the Kingdom of Saudi Arabia.

Ooredoo Q.P.S.C

Market Cap: ر.ق40.7b

Provides telecommunications services in Qatar, rest of the Middle East, Asia, and North Africa region.

Far EasTone Telecommunications

Market Cap: NT$333.5b

Engages in the provision of telecommunications and digital application services in Taiwan.

Elisa Oyj

Market Cap: €6.7b

Provides telecommunications, information and communication technology (ICT), and online services in Finland, rest of Europe, and internationally.

Telekom Malaysia Berhad

Market Cap: RM 27.9b

Engages in the establishment, maintenance, and provision of telecommunications and related services in Malaysia and internationally.

Maxis Berhad

Market Cap: RM 27.8b

An investment holding company, provides a suite of converged telecommunications, digital, and related services and solutions in Malaysia and internationally.

Scancom

Market Cap: GH₵72.1b

Provides telecommunications services in Ghana.

PCCW

Market Cap: HK$45.6b

Provides telecommunications and related services in Hong Kong, Mainland and other parts of China, Singapore, and internationally.

Magyar Telekom Távközlési Nyilvánosan Müködö Részvénytársaság

Market Cap: Ft1.9t

Provides fixed-line and mobile telecommunication services for residential and business customers in Hungary, Bulgaria, Romania, and the Republic of North Macedonia.

TPG Telecom

Market Cap: AU$8.0b

Provides telecommunications services to consumer, business, enterprise, and government and wholesale customers in Australia.

Telecom Argentina

Market Cap: AR$7.6t

Provides telecommunications services in Argentina, Paraguay, Uruguay, Chile and the United States.

Zegona Communications

Market Cap: UK£3.9b

Provides integrated telecommunications services in Spain.

PLDT

Market Cap: ₱276.6b

Provides telecommunications and digital services in the Philippines.

Sunrise Communications

Market Cap: CHF 3.4b

Provides telecommunications services in Switzerland.

Array Digital Infrastructure

Market Cap: US$4.1b

Owns and operates shared wireless communications infrastructure in the United States.

Indosat Ooredoo Hutchison

Market Cap: Rp67.1t

Provides digital telecommunication services in Indonesia.

Digi Communications

Market Cap: RON 13.5b

Provides telecommunication services of cable TV, fixed internet and data, fixed-line telephony, mobile telephony and internet and direct to home television services in Romania and Spain and mobile telephony services in Italy.

Oman Telecommunications Company SAOG

Market Cap: ر.ع1.2b

Oman Telecommunications Company SAOG, together with its subsidiaries, establishes, operates, develops, and maintains telecommunication services in the Sultanate of Oman and internationally.

NetLink NBN Trust

Market Cap: S$3.8b

An investment holding company, owns, designs, builds, and operates the passive fibre network infrastructure for residential homes and non-residential premises, and non-building address point (NBAP) connections in mainland Singapore and its connected islands.