Business Services Industry
City of London says mobile phone operator has room for growth.
Knight Ridder/Tribune Business News, December, 2004
By Tony Glover, The Business, London Knight Ridder/Tribune Business News
Dec. 12--City of London analysts admit that they may have underestimated mobile phone operator MmO2's potential for growth.
MmO2 chief Peter Erskine has spent the last few weeks on a roadshow aimed at explaining to cynical City brokers and analysts that the company's German division is still on a roll, even after its turnaround from being a 500 million euros ($665 million 350 million pounds) liability to a 2 billion euros asset.
CSFB said: "Even after a post-results upgrade to 120 pence we are still underestimating the potential for further value creation in O2 Germany."
Investec's telecoms team was even more bullish: "We believe the case for a premium...
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