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<Research>CLSA: Sale of CKH HOLDINGS (00001.HK) Irish Telecom Biz to Be Positive w/ Ideal Valuation
Recommend 8 Positive 34 Negative 11 |
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CKH HOLDINGS (00001.HK) is in discussions with Liberty Global to sell its Irish telecom business for EUR1.5 billion, according to CLSA's research report. If true, this should be positive for CKH HOLDINGS, as the Group would be exiting the business at an ideal valuation, with the price equivalent to an EV/ EBITDA multiple of 11.4x for 2026/ 2027, compared to the industry peer average of only 5.9x. Meanwhile, the transaction implies that the Company can exit the stressed telecom business. CLSA estimated that the above selling price would boost CKH HOLDINGS' overall net asset value by approx. 3% in 2026, although the impact on earnings would be minimal. Therefore, the broker rated CKH HOLDINGS at Outperform, and continued to list it as one of its top picks for 2026, with a target price of $61. AASTOCKS Financial News Website: www.aastocks.com |
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