• The Boris Johnson government on Tuesday confirmed that top broadband and mobile companies have agreed to help customers amid the cost-of-living crisis.
• The top executives of Vodafone, BT Group, Virgin Media O2, Three, Openreach, TalkTalk, and Sky pledged their support to customers in need.
The Boris Johnson government on Tuesday confirmed that the country's leading broadband and mobile companies have agreed to help customers amid the cost-of-living crisis. The decision comes, following, Digital Secretary Nadine Dorries's meeting with leading telecom representatives, which included the likes of Vodafone, BT Group, Virgin Media, etc.
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The top executives of Vodafone, BT Group, Virgin Media O2, Three, Openreach, TalkTalk, and Sky pledged their support to customers in need. The measures include allowing struggling customers to switch to cheaper plans without extra charge or penalty, agreeing on manageable payment plans, improving, and promoting existing low-cost deals, and exploring tariffs.
With the government's support, the mobile providers are committed to considering ways to support and protect the connectivity of customers and will raise awareness of low-cost products among those on Universal credit.
The service providers also added that the government could support the industry and customers by cutting VAT on telecoms bills to 5%. According to an official statement, the government is already on the job and negotiating social tariffs for those on Universal Credit. This means customers struggling to pay their bills can ask for support from their provider.
Here are 3 FTSE-listed telecom stocks that can be considered at present.
Vodafone Group Plc (LON: VOD)
The British multinational telecommunication company, Vodafone Group Plc, offers mobile telecommunications services, including voice and data communications, through three broad business lines, Vodafone Business, Europe Consumers, and Africa Consumers. With a market cap of £35,653.77 million as of 28 June 2022, the Earning Per Share stands at 0.07. The FTSE 100 listed company gave its shareholder a 13.94% YTD return, and its share was trading at GBX 127.92. Vodafone shares were up by 0.49% at 08:08 AM (GMT+1) as of 28 June 2022.
BT Group Plc (LON: BT.A)
One of the UK's leading telecommunication companies, BT Group Plc, operates across 180 countries. It is engaged in building, owning, and operating fixed and mobile networks in the UK. With a market cap of £18,361.02 million as of 28 June 2022, the Earning Per Share stood at 0.13. The FTSE 100 constituent has provided its shareholder with a 10.17% YTD return, while one year return stands at - 8.50%. As of 28 June 2022, BT Group's shares were trading at GBX 186.75, up by 0.97% at 08:10 AM (GMT+1).
Airtel Africa Plc (LON: AAF)
Airtel Africa Plc is a major provider of telecom services along with mobile money in 14 African countries, especially the East, Central and West zones. Its market cap is £5,178.73 million, as of 28 June 2022. The Earning Per Share stands at 0.09. The FTSE 100 constituent has provided its shareholder with one year return of 76.61%. As of 28 June 2022, Airtel Africa's shares were trading at GBX 139.80, up by 1.45% at 08:14 AM (GMT+1).
Note: The above content constitutes a very preliminary observation or view based on market trends and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.