- Tough competition in Spain has constituted a drag on Orange's revenues.
- A potential merger with MasMovil could change it all, through an alteration of the telecommunications competitive landscape in that country.
- However, there is also Vodafone Spain, another integrated telecom service provider to contend with.
- Looking further, Orange's strategy includes TowerCo Totem, which I value at around $5.6 million in the context of monetizing tower assets in France and Spain.
- I also consider inflationary pressures impacting the cost of operations, but Orange is a buy as it is undervalued.
For further details see:
Orange: Analyzing The Spanish Business In Light Of A Possible MasMovil Merger