5 FTSE telecom stocks to buy as UK implements new broadband rules

Be the First to Comment Read

5 FTSE telecom stocks to buy as UK implements new broadband rules

 5 FTSE telecom stocks to buy as UK implements new broadband rules
Image source: PopTika, Shutterstock.com

Highlights 

  • UK media regulator Ofcom introduced new broadband rules to make it simpler for customers to switch suppliers.
  • The new process, One Touch Switch, will be hassle-free and will potentially reduce the issues faced by customers.
  • By April 2023, the new process must be introduced by all suppliers.

A new service has been introduced by the UK media regulator Ofcom, which will make it simpler for customers to switch broadband suppliers and help them get better deals. According to reports, more than two-fifth of the people didn’t attempt to switching broadband suppliers because of inconvenience earlier. The new process, One Touch Switch, has been designed to help in reducing the complexities faced by people and motivating them to go for better deals.

Many customers have already switched to new users. Through the new process, people have switched to providers who use Openreach’s broadband network, like BT, Sky and TalkTalk. Nevertheless, the customers had to deal with both the new and old suppliers together in case they were trying to change networks or technologies.

According to Ofcom, around one-fourth of customers who were trying to make a switch were stopped by their providers earlier. The new process aims to do away with these issues. By April 2023, it is mandatory for all the suppliers to introduce the new simplified switching process.

ALSO READ: BT Group & Vodafone: 2 FTSE 100 telecom stocks to buy for golden years  

Let’s take a look at some of the top UK telecom stocks which may be impacted by this news.

Zegona Communications PLC (LON: ZEG)

Zegona Communications PLC is a London-headquartered company which acquires businesses in the European telecommunications, media and technology sector. Its current market capitalisation is £331.74 million, and its earning per share is 0.20 and it has given a return of 39.09% in 1 year. The previous close price of Zegona Communications PLC’s shares was GBX 151.50 as on 28 September 2021.

Bigblu Broadband PLC (LON: BBB)

Bigblu Broadband PLC is a UK-based provider of broadband services to rural homes and businesses across Europe. Its current market capitalisation of £71.87 million Its earning per share is -0.14 and it has given a return of 42.36% in 1 year. The previous close price of Bigblu Broadband PLC’s shares was GBX 124.50 as on 28 September 2021.

Airtel Africa PLC (LON: AAF)

Airtel Africa PLC is a UK-based company, with Bharti Airtel, the Indian communication services company, owning the majority shares. Its current market capitalisation is £3,799.49 million. Its earning per share is 0.09 and it has given a return of 72.72% in 1 year. The previous close price of Airtel Africa PLC’s shares was GBX 101.10 as on 28 September 2021.

ALSO READ: UK’s Fibre-Optic fund and top 5 FTSE telecom companies

Gamma Communications PLC (LON: GAMA)

Headquartered in Newbury, Gamma Communications PLC provides voice, data and mobile products and services across the UK. Its current market capitalisation is £1,778.28 million. Its earning per share is 0.37 and it has given a return of 14.31% in 1 year. The previous close price of Gamma Communications PLC’s shares was GBX 1,848.00 as on 28 September 2021.

Adept Technology Group PLC (LON: ADT)

Headquartered in Tunbridge Wells, Adept Technology Group PLC is a telecommunications company which provides specialised managed IT services and unified communications solutions across the UK. Its current market capitalisation of £71.34 million, and it is also a constituent of the FTSE AIM All-Share index. Its earning per share is 0.04 and it has given a return of 16.39% in 1 year. The previous close price of Adept Technology Group PLC’s shares was GBX 285.00 as on 28 September 2021.

Disclaimer

Speak your Mind

Featured Articles