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Interlink Telecom vs Deutsche Telekom: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

Interlink Telecom Public Company Limited (ITEL.BK)

Q3 2026
▲3▼1

ITEL wins big contracts but faces near-term losses

  • Major contract wins ITEL won 3.41 billion baht in USO 3 contracts and a 266-million-baht PEA cable deal, boosting its order book and future revenue potential.

    These contract wins are a key positive development that could drive future revenue and investor optimism.

  • AI and data-centre growth story AI and data-centre demand is driving fibre and network capacity needs, with 22 data-centre projects in the Eastern Economic Corridor and hyperscaler revenue starting in 2026.

    This highlights the long-term growth narrative that could attract investors despite near-term challenges.

  • Near-term losses expected Analysts expect Q3/Q4 2026 losses due to low-margin contracts, a 33% drop in network services revenue, and rising finance costs, pressuring the stock.

    This is a significant risk that could negatively impact the stock price in the near term.

  • Upgraded 2027 profit forecast Asia Plus upgraded its 2027 profit forecast to 729 million baht, signaling confidence in ITEL's long-term earnings growth despite current losses.

    This analyst upgrade provides a positive outlook that could influence investor sentiment.

August 2026
▲4

ITEL builds order book as AI data-centre demand meets weak near-term profit

  • AI and data-centre fibre demand is the long-term engine ITEL says AI and cloud growth is lifting demand for high-speed fibre, with network capacity needs up about 330% and 22 data-centre projects seeking power in the Eastern Economic Corridor. Two to three hyperscaler customers should start paying in 2026, turning years of preparation into recurring revenue.

    This is the core demand story behind ITEL's growth and the reason investors are watching it.

  • New rules and the power plan open fresh bidding Clearer data-centre rules and Thailand's PDP 2026 power plan are opening new work. ITEL is preparing to bid for smart-grid projects, with a 3.9-billion-baht backlog and a full-year revenue target of 3.6 billion baht, while analysts see about 500 billion baht of grid investment in five years.

    It shows a new, policy-driven source of demand beyond telecom contracts.

  • Q2 profit jumped fivefold, but one revenue line fell ITEL's second-quarter net profit rose about 500% to 19.7 million baht on network installation and medical equipment work, with revenue up 7% to 710.66 million baht and a better EBITDA margin. Still, network services revenue fell 33% and finance costs rose, so the profit base is small.

    It is the period's hard earnings evidence, and the weak network-services line is the honest counterweight.

  • PEA cable contract adds steady infrastructure work ITEL won a 266-million-baht Provincial Electricity Authority contract to reorganise communication cables in the central and southern regions. It strengthens the telecom infrastructure revenue base and shows ITEL can keep winning government work, though it is a modest addition next to the 3.9-billion-baht backlog.

    It is the period's concrete new contract win and shows the order pipeline is still filling.

Latest
▲4

ITEL builds order book as AI data-centre demand meets weak near-term profit

  • AI and data-centre fibre demand is the long-term engine ITEL says AI and cloud growth is lifting demand for high-speed fibre, with network capacity needs up about 330% and 22 data-centre projects seeking power in the Eastern Economic Corridor. Two to three hyperscaler customers should start paying in 2026, turning years of preparation into recurring revenue.

    This is the core demand story behind ITEL's growth and the reason investors are watching it.

  • New rules and the power plan open fresh bidding Clearer data-centre rules and Thailand's PDP 2026 power plan are opening new work. ITEL is preparing to bid for smart-grid projects, with a 3.9-billion-baht backlog and a full-year revenue target of 3.6 billion baht, while analysts see about 500 billion baht of grid investment in five years.

    It shows a new, policy-driven source of demand beyond telecom contracts.

  • Q2 profit jumped fivefold, but one revenue line fell ITEL's second-quarter net profit rose about 500% to 19.7 million baht on network installation and medical equipment work, with revenue up 7% to 710.66 million baht and a better EBITDA margin. Still, network services revenue fell 33% and finance costs rose, so the profit base is small.

    It is the period's hard earnings evidence, and the weak network-services line is the honest counterweight.

  • PEA cable contract adds steady infrastructure work ITEL won a 266-million-baht Provincial Electricity Authority contract to reorganise communication cables in the central and southern regions. It strengthens the telecom infrastructure revenue base and shows ITEL can keep winning government work, though it is a modest addition next to the 3.9-billion-baht backlog.

    It is the period's concrete new contract win and shows the order pipeline is still filling.

September 2026
▲3

ITEL wins big USO 3 contracts, but near-term profit still weak

  • USO 3 contract wins ITEL, through joint ventures, won three USO 3 regions worth about 3.41 billion baht. This locks in long-term revenue, but the work is low-margin and revenue starts mostly in 2027, so it barely helps near-term profit.

    This is the main new event driving the stock and explains the recent price jump.

  • Hyperscaler revenue expected in Q3 ITEL expects to start booking revenue from hyperscaler clients in Q3, with 600-700 million baht more work coming. This supports the full-year revenue target of 3.6 billion baht and shows new demand beyond government projects.

    It is a new demand source that could lift revenue and diversify away from low-margin government work.

  • Near-term earnings still weak Despite the contract wins, analysts say ITEL will likely post a loss in Q3 and Q4 2026 because the new work is low-margin and revenue recognition is delayed. The profit boost is pushed to 2027.

    It is the main counterweight: the good news does not fix current losses, so the stock may stay volatile.

  • Analyst upgrade on 2027 outlook Asia Plus Securities raised its 2027 profit forecast for ITEL from 381 million to 729 million baht and lifted its target price to 11.80 baht, citing certainty of five-year revenue from the new contracts.

    It shows professional investors see the contract wins as a real long-term value driver, not just a one-day pop.

▲3

ITEL wins big USO 3 contracts, but near-term profit still weak

  • USO 3 contract wins ITEL, through joint ventures, won three USO 3 regions worth about 3.41 billion baht. This locks in long-term revenue, but the work is low-margin and revenue starts mostly in 2027, so it barely helps near-term profit.

    This is the main new event driving the stock and explains the recent price jump.

  • Hyperscaler revenue expected in Q3 ITEL expects to start booking revenue from hyperscaler clients in Q3, with 600-700 million baht more work coming. This supports the full-year revenue target of 3.6 billion baht and shows new demand beyond government projects.

    It is a new demand source that could lift revenue and diversify away from low-margin government work.

  • Near-term earnings still weak Despite the contract wins, analysts say ITEL will likely post a loss in Q3 and Q4 2026 because the new work is low-margin and revenue recognition is delayed. The profit boost is pushed to 2027.

    It is the main counterweight: the good news does not fix current losses, so the stock may stay volatile.

  • Analyst upgrade on 2027 outlook Asia Plus Securities raised its 2027 profit forecast for ITEL from 381 million to 729 million baht and lifted its target price to 11.80 baht, citing certainty of five-year revenue from the new contracts.

    It shows professional investors see the contract wins as a real long-term value driver, not just a one-day pop.

Deutsche Telekom AG (DTE.XETRA)

Q3 2026
▲3▼1

Buybacks and T-Mobile strength offset merger doubts

  • T-Mobile raises cash flow guidance and beats profit estimates T-Mobile, Deutsche Telekom's main profit engine, raised its free cash flow guidance and beat profit estimates, supporting the parent company's financial health.

    This directly boosts Deutsche Telekom's earnings and investor confidence.

  • Deutsche Telekom expands buyback to €5bn and lifts cash flow outlook Deutsche Telekom increased its share buyback program to €5 billion and raised its 2026 cash flow outlook to about €20 billion, returning more cash to shareholders.

    Buybacks reduce share count and signal confidence, often lifting the stock price.

  • SpaceX wireless threat smaller than feared; satellite and AI initiatives advance SpaceX's Starlink wireless threat appeared less severe than feared, while Deutsche Telekom advanced satellite, IoT, Cloudflare, and AI projects, targeting €2.5bn AI savings and €800m AI revenue by 2030.

    Reduced competitive threat and new growth avenues support future earnings.

  • Merger uncertainty and competition weigh on shares T-Mobile executives and shareholders opposed a $300bn merger, while Elliott pushed buybacks instead, creating strategy uncertainty. SpaceX's Starlink and Charter talks threatened US competition, and merger doubts weighed on shares.

    This counterweight explains why the stock didn't rise more despite positive drivers.

September 2026
▲4▼1

Elliott pushes buybacks over T-Mobile merger; DT advances AI, satellite, Cloudflare

  • Elliott opposes T-Mobile merger, pushes buybacks Activist investor Elliott has built a stake in Deutsche Telekom and is pressing it to drop the planned full merger with T-Mobile US in favor of bigger share buybacks. This creates uncertainty over CEO Höttges's strategy and could weigh on the shares until resolved.

    This is the biggest new force: an activist campaign directly challenging management's core strategy, with clear implications for capital allocation and investor returns.

  • DT joins European satellite consortium talks Deutsche Telekom is in early talks with Orange, Vodafone and Telefónica to form a consortium bidding for the EU's reserved 2 GHz satellite band for direct-to-mobile services. Winning would open a new growth area and strengthen its competitive position.

    This is a new strategic opportunity that could add a new revenue stream and defend against satellite entrants, supporting the stock.

  • IoT satellite roaming milestone with Iridium Deutsche Telekom IoT completed integration and a global roaming deal with Iridium, enabling its IoT customers to roam between terrestrial networks and satellites. The first voice message was sent via satellite, with commercial service due in Q4 2026, expanding its IoT reach.

    This is a concrete technological and commercial step that broadens Deutsche Telekom's IoT offering and could drive future revenue.

  • Cloudflare partnership boosts enterprise security Deutsche Telekom and Cloudflare announced a strategic partnership to offer joint security and connectivity solutions to European enterprises, with T-Systems adding Cloudflare's platform and Deutsche Telekom providing sales and support. This strengthens its enterprise portfolio and could lift revenue.

    This is a new partnership that expands Deutsche Telekom's enterprise offerings and addresses European digital sovereignty needs, a positive for growth.

  • AI to deliver billions in savings and new revenue Deutsche Telekom forecasts about €2.5 billion in indirect AI cost savings by 2030 and €800 million in AI-related revenue by 2030, with AI already handling millions of customer calls. This supports margins and growth, though savings will be partly reinvested in fiber.

    This is a new, detailed AI plan that shows tangible financial benefits, a key driver for future profitability and the stock.

Latest
▲4▼1

Elliott pushes buybacks over T-Mobile merger; DT advances AI, satellite, Cloudflare

  • Elliott opposes T-Mobile merger, pushes buybacks Activist investor Elliott has built a stake in Deutsche Telekom and is pressing it to drop the planned full merger with T-Mobile US in favor of bigger share buybacks. This creates uncertainty over CEO Höttges's strategy and could weigh on the shares until resolved.

    This is the biggest new force: an activist campaign directly challenging management's core strategy, with clear implications for capital allocation and investor returns.

  • DT joins European satellite consortium talks Deutsche Telekom is in early talks with Orange, Vodafone and Telefónica to form a consortium bidding for the EU's reserved 2 GHz satellite band for direct-to-mobile services. Winning would open a new growth area and strengthen its competitive position.

    This is a new strategic opportunity that could add a new revenue stream and defend against satellite entrants, supporting the stock.

  • IoT satellite roaming milestone with Iridium Deutsche Telekom IoT completed integration and a global roaming deal with Iridium, enabling its IoT customers to roam between terrestrial networks and satellites. The first voice message was sent via satellite, with commercial service due in Q4 2026, expanding its IoT reach.

    This is a concrete technological and commercial step that broadens Deutsche Telekom's IoT offering and could drive future revenue.

  • Cloudflare partnership boosts enterprise security Deutsche Telekom and Cloudflare announced a strategic partnership to offer joint security and connectivity solutions to European enterprises, with T-Systems adding Cloudflare's platform and Deutsche Telekom providing sales and support. This strengthens its enterprise portfolio and could lift revenue.

    This is a new partnership that expands Deutsche Telekom's enterprise offerings and addresses European digital sovereignty needs, a positive for growth.

  • AI to deliver billions in savings and new revenue Deutsche Telekom forecasts about €2.5 billion in indirect AI cost savings by 2030 and €800 million in AI-related revenue by 2030, with AI already handling millions of customer calls. This supports margins and growth, though savings will be partly reinvested in fiber.

    This is a new, detailed AI plan that shows tangible financial benefits, a key driver for future profitability and the stock.

August 2026
▲4

Buyback boost and T-Mobile strength outweigh SpaceX threat

  • Deutsche Telekom expands buyback to €5bn and raises cash flow outlook Deutsche Telekom added €3bn to its 2026 buyback, taking it to €5bn, after Q2 core profit beat expectations and it raised its 2026 free cash flow outlook to about €20bn. Buying back more shares reduces the number in issue, which supports the share price.

    This is the main new company-specific event that directly lifts the shares.

  • T-Mobile remains the profit engine and its outlook improved T-Mobile, majority-owned by Deutsche Telekom, again raised its free cash flow outlook and is the biggest driver of group revenue and profit. A stronger T-Mobile makes Deutsche Telekom's stake more valuable, underpinning the share price.

    T-Mobile is the key value driver for DTE.XETRA and its improved outlook is new this period.

  • SpaceX's wireless threat looks smaller than feared Analysts say SpaceX would need up to 1.5 billion small cells costing about $1,000 each to match T-Mobile's coverage, and its limited spectrum makes satellite service more of a rural supplement. This eases fears of a major competitive hit to T-Mobile.

    It directly counters the main negative overhang on the shares from SpaceX.

  • Deutsche Telekom joins AST SpaceMobile European satellite tests Deutsche Telekom is testing AST SpaceMobile's space-based mobile broadband across several European countries, aiming to extend coverage using normal smartphones. If successful, it could widen service reach and open new revenue, a modest positive for the shares.

    It is a new partnership that could support future growth, though its near-term impact is limited.

▲4

Buyback boost and T-Mobile strength outweigh SpaceX threat

  • Deutsche Telekom expands buyback to €5bn and raises cash flow outlook Deutsche Telekom added €3bn to its 2026 buyback, taking it to €5bn, after Q2 core profit beat expectations and it raised its 2026 free cash flow outlook to about €20bn. Buying back more shares reduces the number in issue, which supports the share price.

    This is the main new company-specific event that directly lifts the shares.

  • T-Mobile remains the profit engine and its outlook improved T-Mobile, majority-owned by Deutsche Telekom, again raised its free cash flow outlook and is the biggest driver of group revenue and profit. A stronger T-Mobile makes Deutsche Telekom's stake more valuable, underpinning the share price.

    T-Mobile is the key value driver for DTE.XETRA and its improved outlook is new this period.

  • SpaceX's wireless threat looks smaller than feared Analysts say SpaceX would need up to 1.5 billion small cells costing about $1,000 each to match T-Mobile's coverage, and its limited spectrum makes satellite service more of a rural supplement. This eases fears of a major competitive hit to T-Mobile.

    It directly counters the main negative overhang on the shares from SpaceX.

  • Deutsche Telekom joins AST SpaceMobile European satellite tests Deutsche Telekom is testing AST SpaceMobile's space-based mobile broadband across several European countries, aiming to extend coverage using normal smartphones. If successful, it could widen service reach and open new revenue, a modest positive for the shares.

    It is a new partnership that could support future growth, though its near-term impact is limited.

July 2026
▼3▲1

T-Mobile merger push meets resistance; T-Mobile raises cash flow outlook

  • T-Mobile executives and shareholders oppose $300B merger T-Mobile US executives told Deutsche Telekom they no longer support a proposed $300 billion merger, citing shareholder concerns and likely US regulatory hurdles. Large institutional investors also oppose the deal. This reduces the chance of a tie-up that could unlock value, pushing DTE.XETRA shares down.

    This is the latest major development on the merger and directly explains negative pressure on DTE.XETRA.

  • T-Mobile raises free cash flow forecast and beats profit estimates T-Mobile, majority-owned by Deutsche Telekom, raised its annual free cash flow forecast to $18.4–18.8 billion and beat quarterly profit estimates. Customers are upgrading to premium plans, boosting revenue per account. This strengthens the value of Deutsche Telekom's stake and supports its share price.

    T-Mobile's strong results directly benefit Deutsche Telekom as its majority owner, providing a positive counterweight.

  • SpaceX and Charter discuss US mobile partnership SpaceX and Charter held talks about a consumer mobile offering in the US, which could let SpaceX route phone traffic through Charter's ground-based internet. This would make SpaceX a more direct competitor to T-Mobile, Deutsche Telekom's key profit engine, weighing on its shares.

    This new competitive threat could pressure T-Mobile's market position and thus DTE.XETRA's valuation.

  • SpaceX weighs Starlink retail mobile service in US SpaceX is considering a Starlink retail mobile internet service in the US, directly competing with T-Mobile, Verizon, and AT&T. Starlink's satellite network could appeal in rural areas with poor coverage. This adds another competitor to the crowded US wireless market, a negative for T-Mobile and Deutsche Telekom.

    This is a separate but related competitive threat that could erode T-Mobile's subscriber base and margins.

▼3▲1

T-Mobile merger push meets resistance; T-Mobile raises cash flow outlook

  • T-Mobile executives and shareholders oppose $300B merger T-Mobile US executives told Deutsche Telekom they no longer support a proposed $300 billion merger, citing shareholder concerns and likely US regulatory hurdles. Large institutional investors also oppose the deal. This reduces the chance of a tie-up that could unlock value, pushing DTE.XETRA shares down.

    This is the latest major development on the merger and directly explains negative pressure on DTE.XETRA.

  • T-Mobile raises free cash flow forecast and beats profit estimates T-Mobile, majority-owned by Deutsche Telekom, raised its annual free cash flow forecast to $18.4–18.8 billion and beat quarterly profit estimates. Customers are upgrading to premium plans, boosting revenue per account. This strengthens the value of Deutsche Telekom's stake and supports its share price.

    T-Mobile's strong results directly benefit Deutsche Telekom as its majority owner, providing a positive counterweight.

  • SpaceX and Charter discuss US mobile partnership SpaceX and Charter held talks about a consumer mobile offering in the US, which could let SpaceX route phone traffic through Charter's ground-based internet. This would make SpaceX a more direct competitor to T-Mobile, Deutsche Telekom's key profit engine, weighing on its shares.

    This new competitive threat could pressure T-Mobile's market position and thus DTE.XETRA's valuation.

  • SpaceX weighs Starlink retail mobile service in US SpaceX is considering a Starlink retail mobile internet service in the US, directly competing with T-Mobile, Verizon, and AT&T. Starlink's satellite network could appeal in rural areas with poor coverage. This adds another competitor to the crowded US wireless market, a negative for T-Mobile and Deutsche Telekom.

    This is a separate but related competitive threat that could erode T-Mobile's subscriber base and margins.