Goldman Sees Buying Opportunity in Beaten-Down Telecom Bonds

Goldman Sachs traders are advising investors to take another look at some of Virgin Media O2's and VodafoneZiggo's beaten-down bonds. The recommendation comes just months after weaker earnings and increased competition sent these telecom companies' debt sliding.

The bonds in question are shorter-dated notes, specifically Virgin Media O2's 2029 maturities and VodafoneZiggo's 2030 notes. According to sources familiar with the matter, Goldman Sachs is urging investors to consider buying these bonds, despite their recent decline in value.

It remains unclear what specific factors led Goldman Sachs to revise its opinion on these bonds. However, it is evident that the investment bank sees potential in these companies' debt, particularly among shorter-dated notes.