Singtel announced that it has secured the broadcast rights for Euro 2016 soccer tournament to be held from 10 Jun to 10 Jul in France. For Singtel TV subscribers who sign up or renew their Trio (from S$52.90 monthly), Variety (from S$62.90) or Value (from S$69.90) packs for 24 months from now will be able to watch it for free. Otherwise, the month-long tournament (with a total of 51 matches) will be available for a one-time charge of S$88 (with GST).

And those who sign up or renew their mio Stadium+ pack, including cross-carriage customers, will have access to the matches only through the Singtel TV GO app. In addition, anyone who downloads the Singtel TV GO app can watch the opening, one semi-final and the final matches for free.

Meanwhile, we are placing our Buy call and S$3.96 fair value under review after the recent strong run-up in share price.

Source: OCBC Research - 22 Apr 2016