Telecommunication Services

China Unicom (Hong Kong) is trading at a price-to-earnings ratio of 9.4x, well below the telecom sector average of 15.3x and a broader peer group around 20.3x, according to a Simply Wall St valuation review. The stock has gained 84.9% over the past five years but now sits well below recent highs, putting its current earnings multiple in focus. The modelled fair P/E multiple reflecting China Unicom's earnings profile, scale and risk comes out higher than where the shares trade today, indicating the market is pricing the operator at a discount to what that earnings-based framework implies. A top community narrative on the stock argues it is roughly fairly valued, hinging on China Unicom successfully scaling computing power, AI and cloud services while keeping total CapEx near RMB 50 billion. The article is general commentary based on historical data and analyst forecasts and is not financial advice.

Verizon shares fell 6% in pre-market trading after SpaceX agreed to acquire private equity firm Grain Management's nationwide 800 MHz spectrum portfolio, stoking investor concerns over emerging satellite-to-cellular competition. Grain Management said in a press release that the deal covers 100% of its nationwide 800 MHz holdings, supplying up to 14 MHz of paired low-band airwaves pending Federal Communications Commission clearance. SpaceX Chief Executive Elon Musk called the agreement a very big deal that secures the spectrum required to achieve complete phone coverage across the United States without requiring specialized handsets. TD Cowen analyst John Blackledge characterized the transaction as a warning to legacy carriers that intensifies pressure to negotiate roaming partnerships, while William Blair analysts noted that established operators remain vocal skeptics of whether orbital networks can match terrestrial quality. Verizon trades on stable postpaid subscriber additions, average revenue per account growth, and the cash generation needed to service substantial debt and protect its dividend yield, and even though 14 MHz of low-band spectrum lacks the throughput to replace urban cell grids, the prospect of a nationwide direct-to-device alternative limits the multiple investors will pay for legacy cellular franchises.

AT&T shares fell 6.8% in pre-market trading after SpaceX struck a definitive agreement to acquire Grain Management's nationwide 800 MHz spectrum portfolio for an estimated $8 billion. Grain Management said the transaction covers 100% of its nationwide 800 MHz licenses, delivering up to 14 MHz of paired low-band spectrum, subject to Federal Communications Commission approval. SpaceX Chief Executive Elon Musk called the airwaves the last critical piece of the spectrum puzzle required to offer complete mobile coverage in America, noting existing smartphones already support the 800 MHz band. Morgan Stanley analysts said the deal signals SpaceX will become an aggressive spectrum acquirer, though any threat to incumbent carriers will likely materialize gradually in rural markets rather than urban centers, while Bernstein analyst Madison Rezaei noted that building a nationwide terrestrial footprint would still cost between $50 billion and $130 billion across tens of thousands of cell sites. AT&T, which relies on long-term postpaid phone contracts and bundled fiber offerings to fund heavy capital expenditures and sustain its balance-sheet deleveraging, faces a potential erosion of rural coverage premiums and a cap on future subscriber pricing power from an alternative direct-to-device network.

AT&T secured court approval for a US$177 million settlement over a major customer data breach affecting millions of users, with a federal judge signing off on the agreement in early October 2026 and resolving multiple consolidated class action lawsuits. Separately, AT&T, Verizon and T-Mobile agreed to pool spectrum and share satellite access in a new US connectivity joint venture targeting coverage gaps. The US$177 million breach settlement and the multi-carrier satellite venture are reshaping AT&T's risk profile and network ambitions. The payment is sizeable yet small next to the US$167.7b telecom group, which is already spending heavily on fiber and 5G, and the bigger issue for investors is execution on the US$6b targeted copper cost reductions and the large network build. The satellite venture is aimed at filling dead zones that fiber and towers do not reach, while the GIP and CPP Investments fiber venture pushes deeper high speed access in 16 states. The clearest test ahead is whether AT&T closes the fiber JV in the first half of 2027 as planned and starts reporting its share of JV earnings without consolidating the results, alongside progress toward the more than 60 million fiber locations target by 2030.

ClearBridge Investments' Dividend Strategy added T-Mobile US as a new position in the third quarter of 2026, according to the firm's quarterly investor letter. The strategy said T-Mobile continues to gain market share and enjoys the lowest cost structure of the major carriers, allowing it to deliver superior service at lower prices while still generating attractive returns. ClearBridge also noted that T-Mobile just raised its dividend roughly 15%. T-Mobile closed at $171.31 per share on October 08, 2026, down 6.04% over the past month and 25.12% over the past year, with a market capitalization of $183.76 billion and a 52-week range of $160.81 to $231.02. The ClearBridge Dividend Strategy reported modest gains in the quarter but underperformed the S&P 500, which rose 2.3%, due to mixed stock selection and stock-specific headwinds.

AT&T will add the new iPhone Duo, including the iPhone 18 Pro and iPhone 18 Pro Max, to its lineup, with pre-orders opening Friday, Oct. 16, and general availability on Friday, Oct. 23. New and existing customers can get up to $1200 off with an eligible trade-in, and customers who switch to AT&T can get up to $800 to pay off their current device. The iPhone Duo is the first foldable iPhone, featuring a 7.6-inch inner display that closes to a 5.4-inch outer display, and it is powered by the A20 Pro chip. AT&T said the devices run on its intelligent, reliable network backed by the AT&T Guarantee, and customers can upgrade every year through AT&T Next Up Anytime or mix and match plans per line with Unlimited Your Way. Jenifer Robertson, executive vice president and general manager of AT&T Consumer, said the company is committed to delivering the best customer experience and making it simple for people to connect to what matters most.

AIS has launched the AIS Point Coupon Day campaign on the MyAIS app, letting customers use points to redeem discount coupons and privileges from leading partner stores throughout late 2026. The first round of store coupons can be redeemed from 10 to 31 October 2026, including Sizzler with a 100 baht discount coupon for just 120 points, PTT Station with a 20 baht discount coupon for just 30 points, Fuku Matcha with a free 22-ounce bubble milk tea for just 100 points, Mister Donut with one free item for just 50 points, and McDonald's with free medium french fries for just 99 points. There is also a coupon for 600 MB of internet for one day for just 20 points, limited to 50,000 redemptions. Next comes the 11.11 promotion with new deals added from 11 to 13 November 2026, with coupons available to collect on 11 November from 10:00 a.m. or until they run out. Special deals include KOI Thé with a 20 baht discount coupon for just 15 points, limited to 1,000 redemptions, and an unlimited-speed 2 Mbps internet coupon for one day for just 25 points, limited to 50,000 redemptions. Store coupons can be redeemed from 11 to 30 November 2026, including Kamu Tea, Shabushi Buffet, Potato Corner, Watsons and Major Cineplex. The campaign closes with the 12.12 promotion from 12 to 14 December 2026, with coupons available to collect on 12 December from 10:00 a.m. or until they run out, such as Starbucks with a 50 baht discount coupon for just 30 points, limited to 1,000 redemptions, and an unlimited-speed 6 Mbps internet coupon for one day for just 45 points, limited to 50,000 redemptions. Store coupons can be redeemed from 12 to 31 December 2026, including GAGA, Pizza Hut, Auntie Anne's, SF Cinema and Bonchon.

IDT Corporation reported full-year results for the period ended July 31, 2026, with sales of US$1.30 billion and net income of US$86.63 million. Alongside the earnings, the company filed a new US$5.22 million shelf registration covering 75,000 Class B shares tied to an ESOP offering. The combination of higher annual earnings per share from continuing operations and the ESOP-related share registration highlights IDT's focus on both profitability and employee ownership incentives. The ESOP registration modestly expands the share base alongside ongoing dividends and buybacks, and appears incremental rather than a material change to near-term catalysts. Investors are still weighing the company's BOSS Money working capital demands against its steady communications and payments cash flows.

AST SpaceMobile and TELUS have completed their first integration test connecting TELUS' terrestrial wireless network with AST SpaceMobile's satellite based system for direct smartphone to satellite service in Canada. The milestone comes amid a volatile stretch for AST SpaceMobile shares, which fell 6.13% over the past day, 13.90% over the past month and 31.80% year to date, closing at $56.93. The most followed narrative pegs fair value at $170 per share, framing the selloff as a valuation question, with forecast revenue rising 51.9% per year and expectations that ASTS becomes profitable within three years. Set against a current market value of about $23.60b and a reported net loss of $618.761m on $115.299m of revenue, the bull case leans on future execution, while analysts hold an average price target of $77.94, 36.9% above the last close. The story can break if satellite deployment slips or if carrier partners delay turning trials into meaningful and recurring service revenue.

Pratthana Leelapanang, Chief Executive Officer of Advanced Info Service Public Company Limited, or ADVANC, said demand for iPhones among upper-tier consumers remains so high that supply cannot keep up, even though imports rose 30-40% from a year earlier, while middle- and lower-tier consumers are tending to hold back on buying new mobile phones. The company is maintaining its operating forecast for 2026, expecting core service revenue to grow 3-5% and EBITDA to grow 2-4%, and has set a target of investing about 50 billion baht a year. That breaks down into roughly 30 billion baht a year to expand its main communications network, about 10 billion baht a year in Data Center business investment through its subsidiaries, and about 10 billion baht a year in spectrum investment, in order to drive the digital economy and Data Center, Sovereign Cloud and Sovereign AI technologies. It expects that by 2027 Intelligence and AI technology will generate as much as about 500 billion baht in added economic value, or more than 2% of GDP. As for its partners, AIS is a subsidiary of GULF and works with Singtel. The GSA project is divided into GSA01, GSA02 and GSA03, with combined power generation capacity of nearly 300 megawatts to support Data Center growth. At present, demand for investment in Thailand waiting to begin construction is no less than 2 gigawatts, and may reach 3 gigawatts, from more than 30 foreign operators.

Prathana Leelapanang, Chief Executive Officer of Advanced Info Service Public Company Limited, or ADVANC, said at the THAILAND ECONOMIC OUTLOOK 2027 NEW HORIZON BEYOND THE TRAP seminar that Thailand's economy is stepping into the Intelligent Economy era driven by artificial intelligence. By 2027, AI technology is expected to generate roughly 500 billion baht in added economic value, or more than 2% of GDP, through efficiency gains in manufacturing, services, energy, and agriculture. He also highlighted four pillars of a new digital infrastructure model under Thailand's sovereignty: energy, connectivity, Data Center and Cloud, and AI & National Model. AIS will continue investing in assets and various sectors at about 50 billion baht a year to support the Intelligent Economy, and is working with the government and partners to launch the Thailand AI Readiness project, along with a Software Portal that lets individuals and organizations assess their own AI readiness.

Bualuang Securities has upgraded its view on the telecom sector from "equal weight" to "overweight," seeing profits entering a stronger and more sustainable phase driven by a lower cost structure, more rational price competition, and reduced interest expenses. A key factor is that ARPU, or revenue per user, for both ADVANC and TRUE continues to rise even as data usage grows faster than the price per GB, reflecting that customers are willing to pay more for more data rather than the result of price-cutting competition. Meanwhile, prepaid package price increases since March are still gradually feeding through as a positive for the third quarter of 2026. On costs, TRUE's EBITDA margin rose from 50% in the first half of 2025 to 63% in the second quarter of 2026 after the end of its spectrum lease obligations with NT and the realization of roughly 7.1 billion baht per year in benefits from network consolidation, while ADVANC benefits from the merger with TTTBB and lower network costs. For the third quarter of 2026, core profit for the sector's stocks combined is expected at 20 billion baht, up 21% year on year, rising to 21.3 billion baht in the fourth quarter of 2026, which would be a new high for the sector. TRUE is expected to post a record core profit of 7.0 billion baht, up 54% year on year and 3% quarter on quarter, while ADVANC is expected to post core profit of 13 billion baht, up 8% year on year but down 5% quarter on quarter. GST is expected to remain in core loss of about 20 million baht. The research team raised its recommendation on TRUE from "trading buy" to "buy" with an unchanged target price of 15.10 baht, while maintaining a "buy" on ADVANC with a target price of 398 baht and keeping GST at avoid.

Bualuang Securities has upgraded the telecommunications sector from market weight to overweight, viewing the group's earnings as entering a stronger and more sustainable phase, driven by a lower cost structure, more rational price competition, and reduced interest expenses. A key factor is that ARPU, or revenue per user, at both ADVANC and TRUE continues to rise even as data usage grows faster than the price per GB, reflecting that customers are willing to pay more for more data rather than the result of price-cutting competition. Meanwhile, prepaid package price adjustments since March are still gradually feeding through positively into the third quarter of 2026. On costs, structural changes are clear: TRUE's EBITDA margin rose from 50% in the first half of 2025 to 63% in the second quarter of 2026, after the end of spectrum lease obligations with NT and the realization of roughly 7.1 billion baht per year in network merger benefits. ADVANC, meanwhile, benefits from the consolidation of TTTBB and lower network costs, leaving both companies' margins likely to hold at high levels through 2027. Another tailwind is lower debt burdens and financing costs. TRUE expects its net debt to EBITDA ratio to fall to 3.0 times by the end of 2027, ahead of its earlier 2028 target, while interest costs decline and it begins paying quarterly dividends. ADVANC's average borrowing cost is just 2.6%, and its net debt to EBITDA is expected to fall below 1 time by the end of 2026. For the third quarter of 2026, combined core profit for the sector's stocks is expected at 20.0 billion baht, up 21% year on year, rising to 21.3 billion baht in the fourth quarter of 2026, which would be a new high for the group. TRUE is expected to post a record core profit of 7.0 billion baht, up 54% year on year and 3% quarter on quarter, while ADVANC is expected to report core profit of 13.0 billion baht, up 8% year on year but down 5% quarter on quarter on seasonal expenses and its share of losses at CLICX Bank. GST is still expected to post a core loss of about 20 million baht, with a clear recovery likely to be a story for 2027. TRUE is the sector's top pick, given earnings that continue to hit new highs, a cheaper valuation than ADVANC, and a lower debt burden that opens the way for higher dividends. Bualuang upgraded TRUE from trading buy to buy with an unchanged target price of 15.10 baht, while keeping ADVANC at buy with a target price of 398 baht, and maintaining an avoid rating on GST, formerly THCOM.

Verizon Communications, AT&T and T-Mobile have formed a new joint venture aimed at widening U.S. wireless coverage in underserved regions. The partnership targets the near elimination of domestic coverage gaps, focusing on rural communities and remote travel corridors, and also plans to strengthen emergency connectivity and support satellite and direct-to-device links for critical services. Verizon Communications, a telecom group valued at about $190.5b, already sells connectivity, technology and information services to consumers, enterprises and governments, so the venture fits directly into its core role supplying critical communications infrastructure worldwide. The move extends Verizon's existing 5G and satellite work into rural areas and transport routes, which can support fixed wireless access, private networks and backup links for business customers. Investors will be watching how the joint venture shows up in Verizon's disclosed 5G and satellite rollout milestones across rural and remote regions, including any quantified coverage targets or customer adoption metrics tied to the May spectrum pooling plan, as well as progress tied to the planned Fourth Quarter 2026 timing for SKYBOXE's Verizon Business powered offerings.

AT&T Inc. has agreed to form a new U.S. fiber joint venture with Global Infrastructure Partners and the Canada Pension Plan Investment Board. The venture will include AT&T's subsidiary Forged Fiber 37, which holds the fiber build engine, network assets and operations acquired from Lumen Technologies, along with Gigapower, AT&T's existing wholesale fiber joint venture with GIP. AT&T will own 50% of the joint venture, with GIP and CPP Investments collectively owning the remaining 50%, and the company plans to use the transaction proceeds to reduce debt, invest in its business and return capital to shareholders. The deal is expected to close in the first half of 2027, subject to regulatory approvals and other customary closing conditions, and supports AT&T's goal of reaching more than 60 million fiber locations by the end of 2030. The joint venture will operate as a wholesale commercial open-access fiber company supporting AT&T's network growth across major metropolitan areas in 16 states through a capital-light model.

Samart Telcoms Public Company Limited, or SAMTEL, disclosed that the SI Consortium, comprising Samart Communication Service Company Limited, a subsidiary 99.99% held by SAMTEL, and Information and Communication Networks Public Company Limited, or ICN, received a letter dated October 6, 2026 from National Telecom Public Company Limited, or NT, to proceed with a contract to expand the capacity of the Backhaul network between Data Centers and submarine cable stations in order to support one international data communication circuit, as previously quoted. The project has a total value of 363.09 million baht including value-added tax, of which ICN holds a 45.41% share of the project, worth 164.87 million baht including value-added tax, while the SAMTEL subsidiary holds 54.59%. In addition, Secure Info Company Limited, or SCI, a subsidiary indirectly held 99.99% by SAMTEL through Samart Comtech Company Limited, signed a purchase agreement for equipment and devices for the project to establish a Cyber Operations Center and a backup data center, the Digital Resilience Center, at the SMART PARK Industrial Estate office, with the Industrial Estate Authority of Thailand on September 29, 2026. The total project value is 146.20 million baht including value-added tax, with delivery scheduled for completion by April 27, 2027, and payment terms divided into five installments based on work progress.

Bell today announced the launch of the ahlo 2, the next generation of its exclusive smartphone brand, offering Canadians upgraded features at exceptional value. The device features a large 6.9-inch eye-comfort display, an advanced 50 MP camera system and Android 16, along with a powerful 5,200 mAh battery that provides up to a day and a half of typical use, up to seven days in e-reader mode, and fast charging that gets users from 0% to 50% power in approximately 38 minutes. Available exclusively through Bell, Virgin Plus and participating retailers, ahlo 2 launches with a retail price of $335, with financing available from $10 per month through SmartPay. Bell also offers a custom-designed protective case and 30W fast charger bundle for just $39.99. Steve Karan, Vice President, Wireless Product & Logistics at Bell, said ahlo 2 delivers features typically associated with higher-priced smartphones at a price point accessible to more Canadians.

Samart Telcoms Public Company Limited, or SAMTEL, disclosed that Secure Info Company Limited, or SCI, a subsidiary in which the company holds a 99.99% indirect stake through Samart Comtech Company Limited, signed a purchase and sale contract for the procurement of machinery and equipment for the project to establish a cyber operations center and a data backup center, or Digital Resilience Center, at the SMART PARK Industrial Estate office with the Industrial Estate Authority of Thailand on September 29, 2026. The total project value is 146.20 million baht, including value-added tax, with delivery scheduled for completion by April 27, 2027. Payment terms are divided into five installments based on completed work progress.

AIS has announced the expansion of its 5G-ADVANCED Uplink network to 100% service coverage across Bangkok, making the Thai capital the first city in the world with citywide 5G-ADVANCED Uplink coverage. The rollout uses Uplink 2CC technology on the 2600 MHz and 700 MHz bands over a 5G Standalone, or 5G SA, network, doubling maximum upload speeds, and AIS is ready to extend the capability to the main district of all 77 provinces nationwide. AIS customers with compatible devices can experience 5G-ADVANCED without subscribing to an additional package. At the same time, AIS is pressing ahead with Downlink 3CC development by combining the 2600 MHz, 700 MHz and 2100 MHz bands to raise maximum download speeds by 1.5 times, which currently covers most of Bangkok and is targeted to cover the entire capital by the end of 2026. Kittit Ngamjettanarom, Head of Technology at AIS, said today's networks must go far beyond being mere connectivity infrastructure and must evolve into a National Intelligent Infrastructure under the WISE Framework to support the growth of the AI Economy and pave the way for Thailand to become an ASEAN AI Connectivity Hub.

True Corporation has launched an upgraded version of its eSIM GO Travel MyPlan roaming package, letting travelers on any network use it without swapping out their primary SIM. It adds two options: GO UNLIMITED for those who want continuous data, and GO FLEXY for those who want to choose the number of days and data volume to suit each trip, starting at an average of just 11 baht per day. Ms. Putthipha Chiantachakul, Head of International Business at True Corporation, said the Customized Travel Connectivity concept lets customers choose the country, number of days, and data package themselves. Both packages cover destinations on every continent worldwide through a network of more than 700 partners, support 5G, and include a free 2GB of internet for use in Thailand. There are also privileges from leading partners, such as free travel insurance from FWD Life Insurance and Allianz Ayudhya, Red Carpet service from AirAsia, a 40% discount on round-trip airport transfer service from Grab, and discount coupons from leading overseas stores. True has also appointed Jean-Ruechathorn Kittipornpanich as a Brand Ambassador under the concept GO your way, stand out just right. Customers on any network can buy, register, and install the eSIM themselves via QR Code around the clock, with the day count starting when they first connect to a network while abroad.

Samart Telcoms Public Company Limited, or SAMTEL, announced that Secure Info Company Limited, or SCI, an indirectly held subsidiary through Samart Comtech Company Limited with a 99.99% stake, signed a purchase agreement for equipment and devices for the project to establish a cyber operations center and data backup center, known as the Digital Resilience Center, or DRC, at the SMART PARK Industrial Estate office of the Industrial Estate Authority of Thailand, or IEAT, on September 29, 2026. The total project value is 146.20 million baht, including value-added tax. Delivery is scheduled for completion by April 27, 2027, with payment terms divided into five installments based on completed work progress.

Samart Telcoms Public Company Limited, or SAMTEL, announced that Secure Info Company Limited, or SCI, a subsidiary held indirectly through Samart Comtech Company Limited at 99.99%, has signed a purchase agreement for machinery and equipment for the project to establish a cyber operations centre and data backup centre, known as the Digital Resilience Center or DRC, at the SMART PARK Industrial Estate office of the Industrial Estate Authority of Thailand, or IEAT, on 29 September 2026. The project has a total value of 146.20 million baht including value-added tax, with delivery scheduled for completion by 27 April 2027. Payment terms are divided into five instalments based on completed work progress. IEAT procurement data indicates that the project covers the purchase of machinery and equipment for establishing the cyber operations centre and data backup centre, DRC, at the Smart Park Industrial Estate office, with the contract drawn up on 29 September 2026.

AIS has announced the expansion of its 5G-Advanced upload network to cover 100% of its service area across Bangkok, making the Thai capital the first city in the world with citywide 5G-Advanced upload coverage. The rollout uses Uplink 2CC technology on the 2600 MHz and 700 MHz bands over a 5G Standalone, or 5G SA, network, boosting maximum upload speeds by up to two times, and the company plans to extend the capability to the main district of all 77 provinces nationwide. Kittit Ngamjettanarom, AIS's Chief Technology Officer, said the expansion is not only about speed but about preparing infrastructure to support an AI-driven economy and laying the foundation for Thailand to connect to new opportunities as an ASEAN AI Connectivity Hub. AIS customers with compatible devices can experience 5G-Advanced without signing up for an additional package. AIS is also developing Downlink 3CC by combining the 2600 MHz, 700 MHz and 2100 MHz bands to raise maximum download speeds by up to 1.5 times, which currently covers most of Bangkok, with a target of full citywide coverage by the end of 2026.

Samart Telcoms Public Company Limited, or SAMTEL, informed the Stock Exchange of Thailand that the SI Consortium, comprising Samart Communication Service Company Limited, a subsidiary 99.99% held by SAMTEL, and Information and Communication Networks Public Company Limited, or ICN, received a letter from National Telecom Public Company Limited, or NT, dated 6 October 2026, notifying the signing of a contract to expand the capacity of the Backhaul network between the Data Center and the submarine cable station to support one system of international data communication circuits. The SI Consortium won the project as per its submitted bid, with a total project value of 363.09 million baht, and NT has asked the SI Consortium to submit relevant supporting documents for the preparation and signing of the contract. The revenue split between Samart Communication Service Company Limited and Information and Communication Networks Public Company Limited stands at 54.59% to 45.41% respectively.

The SI CONSORTIUM joint venture, comprising Information and Communication Networks Public Company Limited, or ICN, and Samart Communication Service Company Limited, has received a letter from National Telecom Public Company Limited, or NT, to proceed with the preparation and signing of a contract for a project to expand the capacity of the Backhaul network between Data Centers and submarine cable stations to support one system of international data communication circuits. The project has a total value of 363.09 million baht, including value-added tax. As for the revenue split, Samart Communication Service Company Limited, a subsidiary of Samart Telcoms Public Company Limited, or SAMTEL, which holds a 99.99% stake, will receive 54.59% of the project revenue, while ICN will receive 45.41%, equivalent to approximately 164.87 million baht, including value-added tax. SI CONSORTIUM will use the relevant supporting documents to prepare and sign the contract with NT.

The SI Consortium, a joint venture between a subsidiary of Samart Telcoms Public Company Limited, or SAMTEL, and Information and Communication Networks Public Company Limited, or ICN, has received a letter from National Telecom Public Company Limited, or NT, dated 6 October 2026, notifying it to sign a contract for the expansion of backhaul network capacity between data centers and submarine cable stations. This project is being carried out to support one system of international data communication circuits, with a total project value of 363.09 million baht, including value-added tax. Revenue will be split between the SAMTEL subsidiary and ICN at a ratio of 54.59 percent to 45.41 percent, respectively. As a result, the SAMTEL subsidiary will recognize revenue of approximately 198.21 million baht, while ICN will recognize revenue of approximately 164.88 million baht. NT has asked the SI Consortium to submit the relevant supporting documents for the preparation and signing of the contract.

Asia Plus Securities assesses that heavy rain and severe flooding in the final week of September 2026 drove a sharp rise in voice call volumes, especially in Bangkok and its surrounding provinces, up 51% to 60% from the previous week. This contrasts with the usual pattern, in which people favour data usage. The LINE application saw the largest increase in usage because it supports voice calls. On the data side, uploads from mobile phones also rose substantially, particularly in the Rom Klao and Khlong Chan housing areas. The research team views this shift in usage behaviour as positive for sentiment on both ADVANC and TRUE, but expects it will not add much to overall revenue, because the severe flooding was confined to limited areas and had already begun to ease in early October 2026. The team expects operating trends in the third quarter of 2026 for both ADVANC and TRUE to still grow well year on year, helped by higher gross margins than in the third quarter of 2025, which was still weighed down by the roaming service agreement with NT that ended in early August 2025. For the fourth quarter of 2026, profits at both companies are expected to benefit from the year-end festive season, which will support both service revenue and handset sales, with the iPhone 18 entering its first full quarter. The research team maintains an overweight stance on the ICT sector relative to the market, because it expects the operating results of ADVANC and TRUE, the key drivers of sector profit, to keep improving both half on half and year on year in the second half of 2026, which should lift the sector's normalised profit overall by about 20% year on year in 2026 and by a further 12% year on year in 2027. It picks TRUE as its top pick because it has stronger short-term catalysts, and expects TRUE's third-quarter 2026 profit to grow better than ADVANC's both quarter on quarter and year on year. It also expects an interim dividend for the third-quarter 2026 period of 0.15 baht, a yield of 1.2%.

The joint venture SI, or SI CONSORTIUM, comprising Samart Communication Service Company Limited, a subsidiary 99.99% held by SAMART, and Information and Communication Networks Public Company Limited, or ICN, has received a letter from National Telecom Public Company Limited, or NT, dated 6 October 2026, instructing it to proceed with the drafting of a contract to expand the capacity of the Backhaul network between Data Centers and submarine cable stations in order to support one system of international data communication circuits, as quoted by SI CONSORTIUM. The project has a total value of 363.09 million baht, including value-added tax. NT has asked SI CONSORTIUM to submit the relevant supporting documents for the preparation and signing of the contract. The revenue split between SAMART's subsidiary and Information and Communication Networks Public Company Limited stands at 54.59% to 45.41% respectively.

Samart Telcoms, or SAMTEL, announced that the SI Consortium joint venture has received a letter from National Telecom awarding it a contract to expand backhaul network capacity between data centers and submarine cable stations to support international data communication circuits, for one system, as proposed by SI Consortium, with a project value of 363.09 million baht including value-added tax. National Telecom has asked SI Consortium to submit the relevant supporting documents for the preparation and signing of the contract. SI Consortium comprises Samart Communication Services, a subsidiary 99.99 percent held by SAMTEL, and Information and Communication Networks. The revenue split between the subsidiary and Information and Communication Networks stands at 54.59 percent to 45.41 percent respectively.

AT&T Inc. affiliates, affiliates of Global Infrastructure Partners, a part of BlackRock, and Canada Pension Plan Investment Board have agreed to form a new U.S. fiber joint venture that will operate as a leading wholesale fiber commercial open access company. The joint venture will combine Forged Fiber 37, the newly created subsidiary holding the fiber build engine, network assets and operations AT&T recently acquired from Lumen, with Gigapower, AT&T's existing wholesale fiber joint venture with GIP. Under the agreement, AT&T will hold 50% ownership of the joint venture, with GIP and CPP Investments collectively owning 50%, and AT&T expects to receive proceeds at closing that it intends to use consistent with its capital allocation priorities, including helping achieve its net-debt-to-adjusted EBITDA ratio target in the 2.5x range within approximately three years. The transaction is expected to close in the first half of 2027, subject to customary closing conditions and regulatory approvals, and supports AT&T's plans to reach more than 60 million fiber locations by the end of 2030. Until close, AT&T expects to continue to report Forged Fiber 37 as held-for-sale and discontinued operations, and after close it does not expect to consolidate the joint venture's financial results but plans to report its share of equity income or loss in earnings.

Lleida.net said its SMS traffic delivered to Spanish operators has risen 40% since January, driven by mandatory sender registration. The growth accelerated with the first steps of the regulation and soared after it took full effect on 15 September, with Spain the main destination for the company's SMS traffic. Lleida.net estimates its market share at between 20% and 25% of quality SMS traffic in Spain, the transactional, non-advertising traffic such as two-step verification codes and notifications, a share it was able to calculate thanks to sender registration. Under Order TDF/149/2025 and CNMC Circular 1/2026, operators must since 15 September block SMS, MMS and RCS messages whose sender is a trade name or alias not entered in the CNMC's Alias Register, or that arrive through a provider not authorised in that register, a measure aimed at curbing smishing. CEO and founder Sisco Sapena said requiring every sender to be identified restores trust in the channel and rewards companies that operate legitimately. Lleida.net, a telecommunications operator with its own CNMC-assigned numbering that it can assign to clients, said the register has also boosted activity among its clients, who increased their traffic with the company after registering their senders.

Optimum Communications shares jumped 6% in the afternoon session after the company announced network upgrades in Lake Charles, Louisiana, expanding broadband availability with internet speeds of up to 2 Gbps while also investing in local community organizations. According to the company's press release, the week-long initiative included network enhancements across the Lake Charles area designed to improve connectivity for households and businesses. The shares closed the day at $0.99, up 7.6% from the previous close. Optimum Communications is down 44.1% since the beginning of the year, and at $0.96 per share, it is trading 64.3% below its 52-week high of $2.69 from October 2025.

Verizon Communications has entered into a joint venture with AT&T Inc. and T-Mobile US, Inc. to expand wireless coverage and reduce mobile dead zones across the United States using satellite connectivity. The venture will complement Verizon's existing network with direct-to-device services, letting compatible devices connect to satellite networks and providing backup connectivity during natural disasters or other network disruptions. The partnership is expected to reduce coverage gaps, improve reliability and provide more satellite service options, while helping Verizon adopt common technical standards that improve compatibility among devices, operating systems and satellite networks. Existing carrier-satellite agreements will remain in place, allowing Verizon to continue its independent connectivity initiatives alongside the new venture. Verizon shares have gained 10.8% over the past year compared with the industry's growth of 119.6%, and the stock trades at a forward price-to-earnings ratio of 8.77 versus the industry average of 37.6. Earnings estimates for 2026 have remained static at $5.03 per share, while estimates for 2027 have increased 0.2% to $5.30 over the past 60 days.

TELUS and AST SpaceMobile have successfully completed their first integration test between TELUS' wireless network and AST SpaceMobile's space-based network, a milestone toward delivering broadband data, voice calls and text messages directly between smartphones and satellites. The service is expected to be available to TELUS customers within the next year, letting eligible smartphones connect beyond the reach of traditional cell towers. AST SpaceMobile's constellation features the largest communication arrays ever deployed in Low Earth Orbit. Nazim Benhadid, Executive Vice-President and Chief Technology Officer at TELUS, called the milestone a major step forward in extending cellular coverage to places where service isn't available today, while AST SpaceMobile Chief Commercial Officer Chris Ivory said the test reflects the strength and maturity of the company's technology. The partnership builds on TELUS' ongoing investments in its wireless network, including faster 5G+ and LTE speeds and expanded coverage across Canada.

PROEN Corp, or PROEN, has received an investment promotion card from the Board of Investment, or BOI, for its Cloud Service business, granting an exemption from corporate income tax on net profits from the promoted business for up to 8 years, with the total exempted tax amount not exceeding 100% of the investment, excluding land costs and working capital, along with import duty benefits on machinery under specified conditions. Chief Executive Officer Kittiphun Sribua-iam disclosed that this BOI privilege extends the company's digital infrastructure business and opens the opportunity to generate increased revenue from Cloud services in the future. The promotion card requires the project to have an investment of no less than 282.86 million baht, excluding land costs and working capital, and to commence operations within 36 months from the date the promotion card is issued. The project scope covers Cloud Service offerings including Infrastructure as a Service, or IaaS, and Platform as a Service, or PaaS, along with conditions regarding the Data Center, connectivity systems, and standards for security and service provision. The company also plans to organize training to develop knowledge and skills in using Cloud Service continuously every quarter for a period of 3 years from the date the promotion card is received. The Cloud business is expected to help create a new revenue base and support the recovery of operating results in the period ahead.