Chorus sings the blues

This regulated monopoly is available on a PER of less than 5 and a yield of 10%. Gaurav Sodhi asks if it's too good to be true.

Picture a dull regulated monopoly. It owns and operates copper cables that form the backbone of telecommunications in one of the richest (and prettiest) countries in the world. The copper cables are leased to phone and broadband providers who pass the cost onto customers that hungrily devour data flowing down the wires. Regulators set the price this business can charge and determine the returns it can make.


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