Elevator Pitch
Thailand-listed telecommunications company, True Corporation Public Company Limited (OTC:TCPFF) [TRUE:TB], is the second-largest mobile operator in Thailand. Peers Advanced Info Service Public Company Limited (OTCPK:AVIFY) (OTCPK:AVIVF) [ADVANC:TB] and Total Access Communication Public Company Limited (OTCPK:TACYY) (OTC:TACJF) (OTC:TCCMF) [DTAC:TB] or DTAC are the largest and third largest mobile companies in the country respectively.
True Corporation trades at 8.1 times consensus forward next twelve months EV/EBITDA, which represents a significant discount to the stock's historical five-year forward EV/EBITDA of approximately 12 times. In