Altice Europe NV A

Altice Europe is a provider of cable, fiber, mobile, telecommunications, content and media in Western Europe (comprising France, Portugal, Belgium, Luxembourg1 and Switzerland), the United States of America (U.S.), Israel, the Dominican Republic and the French overseas territories (comprising Guadeloupe, Martinique, French Guiana, La Reunion and Mayotte). Through its various business operations, Co. provides fixed services, mobile telephony services (other than in the U.S.) and media and advertising services to B2C and B2B customers in all of the geographies in which it operates. In addition, Co. offers a variety of wholesale and other services.
  • TickerA14W4B
  • ISINNL0011333752
  • ExchangeEuronext Amsterdam
  • SectorFixed Line Telecommunications
  • CountryNetherlands

Analysts

Expert Corporate Governance Service (ECGS)

Altice Europe 27 June 2019

In general, Altice Europe ("Altice") is in compliance with the Dutch regulations relating to the organisation and procedures of the Annual General Meeting. Since ECGS has serious concerns regarding the governance of the company, in particular remuneration policy leading to excessive amounts with poor links with long-term performance, board composition (high number of executives), concerns about the supplier and client relations and mismanagement of related-party transactions and, last but not least, the financial condition of the Company with deteriorating negative group share equity (almost ...

ALTICE EUROPE NV sees a downgrade to Negative on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of ALTICE EUROPE NV (NL), active in the Mobile Telecommunications industry. As regards its fundamental valuation, the title now shows 1 out of 4 stars while market behaviour can be considered risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Negative. As of the analysis date June 4, 2019, the closing price was EUR 2.70 and its target price was estimated at EUR 1.78.

Alexandre Iatrides ...
  • Alfred Glaser
  • Delphine Brault
  • François Maury
  • Georges Dieng
  • Jeremy Garnier

ODDO BHF Small & MIDCAP MORNING NEWS - 05/06/2019

...

Alastair Jones ...
  • James Ratzer
  • Jonathan Chaplin
  • Pierre FerraguÊ
  • Russell Waller

Global TMT: TMUS, ERICA/NOKIA, MIC, Naspers, ATC, SCMN

Global TMT: TMUS, ERICA/NOKIA, MIC, Naspers, ATC, SCMN Alastair Jones 9

Alexandre Iatrides ...
  • Alfred Glaser
  • Charles Lepetitpas
  • Delphine Brault
  • Emmanuel Matot
  • Louis Boujard
  • Martial Descoutures
  • Nicolas David
  • Philippe Ourpatian
  • Pierre Corby
  • Pierre Tegner
  • Rémi Adam
  • Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 01/31/2019

This report assesses the consequences for BMW and Daimler of a “possible” scenario: an increase in US tariffs on imports from Europe (from 2.5% to 15%) and a decline in Chinese tariffs (from 25% to 15% irrespective of the origin). We estimate: i) the impact on EBIT at -€ 1.2bn for both, i.e. respectively 15% and 10%, and ii) the impact on the valuation at -€ 13.9bn and -€ 14.9bn, which are impressive figures but not realistic. Any increase in US tariffs would result in the relocation ...

Alexandre Iatrides ...
  • Alfred Glaser
  • Delphine Brault
  • François Maury
  • Georges Dieng
  • Jeremy Garnier

ODDO BHF Small & MIDCAP MORNING NEWS - 05/06/2019

...

Alexandre Iatrides ...
  • Rémi Adam

ODDO : Everything you always wanted to know about 5G but were afraid to ask

For the moment, 5G has generated more anxiety than real enthusiasm among investors. Our analysis suggests a smooth transition for capex, but that the incident with the spectrum auctions might weigh on sentiment. We favour the German market if the absence of a fourth player is confirmed on 26 November. Deutsche Telekom (Buy, target price € 17.7) is our Top Pick. - >What is at stake with 5G? - While operators are starting to suggest the launch of 5G packages as of 2019, ...

Alexandre Iatrides ...
  • Rémi Adam

ODDO : Tout ce que vous avez toujours voulu savoir sur la 5G (sans jamais oser le demander)

La 5G génère pour l’heure plus d’anxiété qu’un réel engouement auprès des investisseurs. Notre analyse nous conduit à penser que la transition se fera en douceur sur les Capex mais que l’épisode des enchères de spectre risque de peser sur le sentiment. Nous privilégions l’Allemagne si le 26/11 confirme l'absence de 4e acteur. Deutsche Telekom (Achat, OC 17.7 €) est notre top pick. - >Les enjeux de la 5G - Alors que les opérateurs commencent à suggérer des lancements d’...

Alexandre Iatrides ...
  • Vincent Maulay

Bouygues : Already over € 6bn for 5G spectrum and EV of under € 30bn

>5G auctions spiralling out of control - The spectrum auctions in Italy were designed to maximise the contribution to the Italian budget, even if it caused a bloodbath. And this is indeed what is taking place. There were several auction lots: five blocks in 700Mhz including a 2x10 block reserved for Iliad for € 676m, four blocks in 3600Mhz and 5 blocks in 26Ghz. Surprisingly, the golden frequencies (700MHz) available in 2022 were not what gave rise to the fiercest bat...

Alastair Jones ...
  • James Ratzer
  • Jonathan Chaplin
  • Pierre FerraguÊ
  • Russell Waller

Global TMT: TMUS, ERICA/NOKIA, MIC, Naspers, ATC, SCMN

Global TMT: TMUS, ERICA/NOKIA, MIC, Naspers, ATC, SCMN Alastair Jones 9

Alexandre Iatrides ...
  • Alfred Glaser
  • Charles Lepetitpas
  • Delphine Brault
  • Emmanuel Matot
  • Louis Boujard
  • Martial Descoutures
  • Nicolas David
  • Philippe Ourpatian
  • Pierre Corby
  • Pierre Tegner
  • Rémi Adam
  • Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 01/31/2019

This report assesses the consequences for BMW and Daimler of a “possible” scenario: an increase in US tariffs on imports from Europe (from 2.5% to 15%) and a decline in Chinese tariffs (from 25% to 15% irrespective of the origin). We estimate: i) the impact on EBIT at -€ 1.2bn for both, i.e. respectively 15% and 10%, and ii) the impact on the valuation at -€ 13.9bn and -€ 14.9bn, which are impressive figures but not realistic. Any increase in US tariffs would result in the relocation ...

Global TMT: TSLA, AVGO, T, VZ, CMCSA, TMUS, ATUS, TNET, ILD, Indonesia

Global TMT: TSLA, AVGO, T, VZ, CMCSA, TMUS, ATUS, TNET, ILD, Indonesia Chris Hoare 0 chris @newstreetresearch.com

James Ratzer

Global TMT: TSLA, AVGO, Italy, S, CHTR, LBTY, ATC, BT

Global TMT: TSLA, AVGO, Italy, S, CHTR, LBTY, ATC, BT James Ratzer 5

ALTICE EUROPE NV sees a downgrade to Negative on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of ALTICE EUROPE NV (NL), active in the Mobile Telecommunications industry. As regards its fundamental valuation, the title now shows 1 out of 4 stars while market behaviour can be considered risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Negative. As of the analysis date June 4, 2019, the closing price was EUR 2.70 and its target price was estimated at EUR 1.78.

Expert Corporate Governance Service (ECGS)

Altice Europe 27 June 2019

In general, Altice Europe ("Altice") is in compliance with the Dutch regulations relating to the organisation and procedures of the Annual General Meeting. Since ECGS has serious concerns regarding the governance of the company, in particular remuneration policy leading to excessive amounts with poor links with long-term performance, board composition (high number of executives), concerns about the supplier and client relations and mismanagement of related-party transactions and, last but not least, the financial condition of the Company with deteriorating negative group share equity (almost ...

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