It is easy to overlook the telecommunications infrastructure that powers modern life, but little could function without it. For decades, this asset class has been a growth opportunity, with telecommunications towers sprouting for mobile coverage, fiber networks laid for ever-faster internet, and deployment of low-Earth-orbit (LEO) satellites accelerating to reach every inch of the globe.
Yet evolving technology demands create a complicated environment for both investors and infrastructure managers. The growth of telecommunications towers and fiber networks—key underlying infrastructures supporting mobile and fixed communications, respectively—has recently slowed, leaving the industry at an inflection point. This article examines the status of towers and fiber and details opportunities for value creation, the potential for management to reinvigorate growth, and the implications for investors.
To read the full article, download the PDF here.
