Wireless Communications

We think Portugal Telecom made the correct decision in selling its stake in Vivo.

Launching new integrated devices such as the iPhone will surely hinder the firm's near-term profitability due to the handset subsidies necessary to drive sales.Despite good Internet traction, the wireline segment is no longer growing. With about half of the firm's revenue still coming from this

Vivendi acquired GVT in Brazil, at what we estimate was a huge overpayment. This purchase was despite the firm claiming it was not looking for acquisitions in 2009. Its history of overleveraging to make major purchases requires caution. Management may not be content with slow growth for long.Maroc

The firm is completely repositioning its brand. The new strategy will take time to implement, and things could continue to get worse before they get better.ARPU has been in free-fall of late, as lower prices have not sparked a big uptick in usage. The firm's postpaid subscriber base (as percentage

NII competes with telecom giants that are beginning to target the postpaid wireless market. America Movil is relaunching its push-to-talk service, which could affect NII's market share. These well-capitalized operators have the ability to launch a price war, which could significantly hurt NII's

SBA's underperforming site-development business continues to be a drag on gross margins, which are already the lowest of the publicly traded companies.Although the firm is lowering its debt burden, it still has the highest leverage in the industry. If interest rates begin to rise again, SBA will be

MetroPCS' network and handset lineup are not optimized to handle heavy data traffic. This is tangential to the rising popularity of smartphones and other data usage trends.The rate at which customers disconnect service, or churn, lags that of other wireless providers, in part because the firm does

America Movil's dominant scale and economic efficiency give the stock long-term upside.