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.

SoftBank

Market Cap: JP¥10.5t

Provides mobile communications and fixed-line telecommunications and ISP services in Japan.

KDDI

Market Cap: JP¥10.0t

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

Orange

Market Cap: €47.0b

Operates as a telecommunications operator in France and internationally.

AST SpaceMobile

Market Cap: US$37.5b

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

Vodafone Group

Market Cap: UK£26.8b

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.

BT Group

Market Cap: UK£21.5b

Provides communications products and services in the United Kingdom, Europe, the Middle East, Africa, the Americas, and the Asia Pacific.

Telefônica Brasil

Market Cap: R$133.7b

Operates as a mobile telecommunications company in Brazil.

Telefónica

Market Cap: €21.3b

Provides telecommunications services in Europe and Latin America.

Cellnex Telecom

Market Cap: €19.9b

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.

MTN Group

Market Cap: R369.3b

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

Koninklijke KPN

Market Cap: €18.3b

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

Telia Company

Market Cap: SEK 189.6b

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

Airtel Africa

Market Cap: UK£13.9b

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

Telecom Italia

Market Cap: €14.6b

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 135.1b

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

Etihad Etisalat

Market Cap: ر.س51.8b

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

TIM

Market Cap: R$64.9b

Engages in the telecommunications sector in Brazil.

Indus Towers

Market Cap: ₹1.2t

A telecom infrastructure company, engages in the operation and maintenance of wireless communication towers and related infrastructures for various telecom service providers in India, Nigeria, Uganda, and Zambia.

Ooredoo Q.P.S.C

Market Cap: ر.ق42.5b

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

Far EasTone Telecommunications

Market Cap: NT$340.0b

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

Mobile Telecommunications Company K.S.C.P

Market Cap: د.ك2.5b

Provides mobile telecommunication services in Kuwait, Jordan, Iraq, Bahrain, the Kingdom of Saudi Arabia, Lebanon, Sudan, and South Sudan.

Elisa Oyj

Market Cap: €6.7b

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

Maxis Berhad

Market Cap: RM 27.6b

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

Magyar Telekom Távközlési Nyilvánosan Müködö Részvénytársaság

Market Cap: Ft2.1t

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

Telekom Malaysia Berhad

Market Cap: RM 26.9b

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

TPG Telecom

Market Cap: AU$8.4b

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

Zegona Communications

Market Cap: UK£4.1b

Provides integrated telecommunications services in Spain.

Telecom Argentina

Market Cap: AR$7.3t

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

Orange Polska

Market Cap: zł18.6b

Provides telecommunications services for individuals, small and large businesses, and corporations in Poland.

PLDT

Market Cap: ₱277.4b

Provides telecommunications and digital services in the Philippines.

Sunrise Communications

Market Cap: CHF 3.5b

Provides telecommunications services in Switzerland.

Array Digital Infrastructure

Market Cap: US$4.3b

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