Global Telecom Low Leverage High Rewards

Forval TelecomInc

Market Cap: JP¥9.5b

Provides various telecommunications carrier services in Japan.

Hellenic Telecommunications Organization

Market Cap: €6.5b

Engages in the provision of telecommunications and related services to residential and businesses in Greece and Romania.

freenet

Market Cap: €3.8b

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

Telekom Austria

Market Cap: €6.3b

Provides fixed-line and mobile communications solutions to individuals, commercial and non-commercial organizations, and other national and foreign carriers in Austria, Belarus, Bulgaria, Croatia, North Macedonia, Serbia, and Slovenia.

Gamma Communications

Market Cap: UK£833.1m

Provides technology-based communications and software services to small, medium, and large-sized organizations in the United Kingdom, rest of Europe, and internationally.

China United Network Communications

Market Cap: CN¥151.3b

Provides telecommunication services in the People’s Republic of China.

Zain Bahrain B.S.C

Market Cap: ب.د44.8m

Zain Bahrain B.S.C. principally engages in the provision of public telecommunications and related products and services in the Kingdom of Bahrain.

Bredband2 i Skandinavien

Market Cap: SEK 3.1b

Provides data communication and security solutions to individuals and companies in Sweden.

CITIC Telecom International Holdings

Market Cap: HK$9.5b

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

China Mobile

Market Cap: HK$1.8t

Provides telecommunications and information related services in Mainland China and Hong Kong.

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia

Market Cap: Rp334.8t

Provides information and communications technology, and telecommunications network services worldwide.

REDtone Digital Berhad

Market Cap: RM 274.4m

An investment holding company, provides integrated telecommunications and digital infrastructure services in Malaysia.

Hrvatski Telekom d.d

Market Cap: €3.1b

Provides telecommunication services in Republic of Croatia and internationally.

BENEFIT JAPAN

Market Cap: JP¥11.8b

Engages in the internet telecommunication business in Japan.

TIME dotCom Berhad

Market Cap: RM 10.9b

An investment holding company, provides telecommunications services in Malaysia and internationally.

Magyar Telekom Távközlési Nyilvánosan Müködö Részvénytársaság

Market Cap: Ft1.8t

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

Saudi Telecom

Market Cap: ر.س220.9b

Provides telecommunications, information, media, and digital payment services in the Kingdom of Saudi Arabia and internationally.

China Unicom (Hong Kong)

Market Cap: HK$223.4b

An investment holding company, provides telecommunications and related value-added services in the People’s Republic of China.

Chunghwa Telecom

Market Cap: NT$1.0t

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

Ooredoo Q.P.S.C

Market Cap: ر.ق45.3b

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

Spok Holdings

Market Cap: US$274.2m

Through its subsidiary, Spok, Inc., provides healthcare communication solutions in the United States, Europe, Canada, Australia, Asia, and the Middle East.

Airtel Networks Zambia

Market Cap: K14.5b

Provides cellular radio telecommunication services for individual and business customers in Zambia.

TIM

Market Cap: R$61.1b

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

Robi Axiata

Market Cap: ৳157.1b

Operates as mobile network operator in Bangladesh.

Scancom

Market Cap: GH₵55.6b

Provides telecommunications services in Ghana.

Telekom Slovenije d.d

Market Cap: €630.4m

Provides integrated communication and technology services and solutions in Slovenia, Kosovo, Bosnia and Herzegovina, Croatia, Serbia, Montenegro, and North Macedonia.

National Mobile Telecommunications Company K.S.C.P

Market Cap: د.ك825.4m

Provides telecommunications services and related products in Kuwait, Algeria, Tunisia, Maldives, and Palestine.

Telia Lietuva

Market Cap: €1.2b

Provides telecommunications, information technology (IT), and television (TV) services to business and residential customers in the Republic of Lithuania, Sweden, Norway, Finland, Estonia, and Latvia.

Egyptian Satellite Company Nilesat

Market Cap: US$251.9m

Provides direct-to-home (DTH) broadcasting, satellite broadband, and other communication services in Egypt, the Middle East, and North Africa.

Vodafone Qatar P.Q.S.C

Market Cap: ر.ق10.9b

Provides cellular mobile telecommunication, and fixed-line and broadband services in Qatar.

Telekom Malaysia Berhad

Market Cap: RM 30.3b

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