Telco Daily ASTS, TMT Classroom, UK fibre war: We highlight latest research, news flow and significant observations relevant to our stock coverage across European/ CEEMEA Telecoms, and Global Towers/Satellites.

Research evidence excerpt

Equity Research

11 August 2026

Telco Daily

ASTS, TMT Classroom, UK fibre war

We highlight latest research, news flow and significant

observations relevant to our stock coverage across European/

CEEMEA Telecoms, and Global Towers/Satellites.

Emerging Markets Telecoms

NEUTRAL

European Telecom Services

• AST SpaceMobile 2Q26 results - Satellite launch in progress, outlook confirmed

NEUTRAL

• TMT Classroom - A first-principles view of why satellite D2D could be complementary to

European Telecom Services

terrestrial wireless rather than a replacement

• UK fibre war – Altnet fibre build slowed last month – Thinkbroadband

Mathieu Robilliard

BBI, Paris

Detailed stories

Freenet Roadshow – 13 August 2026 (Virtual)

We are pleased to be hosting a virtual roadshow with company management on Thursday, 13

August 2026 (Virtual). Please let us know if you like to participate.

Media and Telecom Forum 2026 (Virtual)

Registration is now open for our Media and Telecom Forum taking place virtually on 1 and 2

September. The forum will offer the opportunity to attend virtual meetings and fireside chats

with senior management from a wide range of global media and telecom companies. Please see

the link for registration and details on confirmed companies.

Barclays Infrastructure Insights Dinner

We are pleased to invite investors to an evening hosted by the Barclays Research European

Infrastructure Insights team on 29 September at 7.00pm in South Kensington, London. Please

see the link for registration.

TMT Classroom - A first-principles view of why satellite D2D could be complementary to

terrestrial wireless rather than a replacement

Terrestrial networks can deliver capacity per unit of area that is hundreds of times more than

satellite, even using optimistic assumptions for satellite capacity, and this gap is defined largely

by physics. There has been a lot of debate in recent months about satellite operators potentially

Barclays Capital Inc. and/or one of its affiliates does and seeks to do business with companies

covered in its research reports. As a result, investors should be aware that the firm may have a

conflict of interest that could affect the objectivity of this report.…