KT Corp.: Buy At 33%+ Discount Before Free Cash Flow Normalizes
- New CEO announced "crisis-mode" and returned 30% of salary.
- Over the past 5 years the company has underperformed the MSCI South Korea by over 90%.
- KT trades at a 34% - 150% discount to global competitors.
- It is likely the bottom line numbers will improve much in the next few years.
- Downside limited with company trading at only 1.1 times tangible book value.