0028 GMT - TPG Telecom's fixed-fiber network will be worth a lot more in future and its sale is viewed with concern by its bears at Morgan Stanley. The MS analysts tell clients in a note that they would have liked the Australian telecommunications provider to cut debt by scrapping its dividend rather than by selling assets. They reckon that high-bandwidth networks will eventually be valued at a premium as data demand grows. They acknowledge that TPG shares could re-rate on the company's improved balance-sheet flexibility, but nonetheless prefer Telstra and Aussie Broadband. MS keeps an underweight recommendation and A$4.40 target price on TPG, which is up 0.1% at A$4.515. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
November 03, 2024 19:29 ET (00:29 GMT)
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