My back of the envelope calculations go something like this
Equity:Currently at a high P/E. However with the MVNO strategy, they stand a chance to increase profits in the medium term but lets face it, this will be no walk in the Park. They must come up with better value proposition than just lower price. This will be a challenge.
TPS: Currently undervalued on a P/B basis. Facing major challenges in the interim but the whole tourism industry seems to show much promise. This I deduce from the number of new hotels coming up. Is well run and diversified source of revenues throught East Africa.
UAP: With the expected listing (I dont know when), the price may appreciate post listing. Is also well run, making consistent profits and diversified regionally.
So, the dilemma is which of the three offers the greatest capital gains in 3 years time.
They must find it difficult....... those who have taken authority as the truth, rather than truth as the authority. -G. Massey.