Goldman Sachs Sees Value in Beaten-Down Telecom Bonds

Goldman Sachs is urging investors to take another look at Virgin Media O2 and VodafoneZiggo's beaten-down bonds. The investment bank's traders have recommended buying shorter-dated notes from these telecom companies, specifically Virgin Media O2's bonds due in 2029 and VodafoneZiggo's notes maturing in 2030.

The move comes just months after weaker earnings and mounting competition sent the debt of these companies sliding. Despite this, Goldman Sachs believes that some of their bonds are a buy opportunity for credit investors.