Cfa society research challenge for Nos SGPS - valuation analysis to assess synergies and premiums due to conglomerates

Abstract

This academic paper scrutinizes NOS SGPA S.A.'s market valuation and challenges amidst evolving strategies. It explores NOS's present trade position and the assessment suggesting a promising potential upside. NOS has navigated market turbulences predating COVID, emphasizing resilience through its telecom core's stability and dividend-yielding nature. This report argues that the pandemic-induced devaluation and shifting interest rates resulted in the market's underestimation of NOS’s true potential. It advocates for a comprehensive reassessment, considering NOS's pivotal role in Portugal's future connectivity landscape within telecommunications and audiovisuals.