The Q2 numbers reflect that, with 80% of its activities in Sweden, Tele2 is becoming a mainstream telco. Does it deserve to be worth 11x its EBITDA? The key point remains probably the dividend. The group could offer SEK6-7 per share for 2019 (like the extraordinary dividend proposed for the sale in Kazakhstan and the Netherlands), corresponding to a 4.6-5.3% yield which offers a slight potential compared to the proxies of the sector. We maintain, however, our opinion at Reduce.
18 Jul 2019
An extraordinary dividend that may well prove premonitory of the ordinary one
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An extraordinary dividend that may well prove premonitory of the ordinary one
Tele2 AB Class B (NCYD:FRA) | 0 0 2.1% | Mkt Cap: 48,603m
- Published:
18 Jul 2019 -
Author:
Jean-Michel Salvador -
Pages:
3
The Q2 numbers reflect that, with 80% of its activities in Sweden, Tele2 is becoming a mainstream telco. Does it deserve to be worth 11x its EBITDA? The key point remains probably the dividend. The group could offer SEK6-7 per share for 2019 (like the extraordinary dividend proposed for the sale in Kazakhstan and the Netherlands), corresponding to a 4.6-5.3% yield which offers a slight potential compared to the proxies of the sector. We maintain, however, our opinion at Reduce.