A Senate/Legatum response to a Yahoo! poster's inquiry:
messages.finance.yahoo.com
Thank you for your interest in Legatum.
As a private investment firm, you will appreciate that we are limited in making specific comments about individual investments. However, I can give you some general thoughts on how we see Sonus Networks and the growing VoIP sector. Please note that our comments reflect only our long-term investment strategy and should not be taken as an endorsement nor recommendation to any individual investor.
Legatum Capital is a patient, value-oriented, international portfolio investor. We do not think of ourselves as simply buyers of stocks so much as investors in businesses with excellent potential, and are prepared to wait what may seem like a considerable time to realise that potential . Legatum believes that the global telecoms industry is currently undergoing a paradigm shift, as conventional circuit switches give way to patches, IP-based technology. Sonus Networks is uniquely positioned to take advantage of this transition as the leading provider of carrier-class Voice over IP (VoIP) solutions for both wireline and wireless networks, as well as for the convergence of the two.
Already supplier to the world’s five largest carriers, we expect Sonus to continue to grow steadily over the next few years as VoIP technology becomes ubiquitous in both the wireline and wireless communications markets. The planned global rollout of WiMAX networks is likely to accelerate this growth.
Sonus is at the vanguard of a movement to bring feature rich, low-cost communications to the consumer, and in the process they will pave the way for the long-promised convergence of entertainment, communications and data processing devices. While this transition may not necessarily be immediate, smooth or linear in its implementation, we believe that Sonus is building the communications platform for the future. Legatum’s investment in Sonus Networks reflects our belief in the company’s long-term future.
Kind regards,
Hamish Banks
Head of Corporate Communications |
