Throughout 2023, European network operators have been vocal in describing difficulties when it comes to their ability to invest in network infrastructure. However, a European Commission consultation on the matter could not reach a consensus on what the problem was, nor on any potential solutions.

In any case, the starting point of their argumentation is hard to refute: European network operators suffer from low market valuation, especially compared with their counterparts in less competitive markets. This Plum Insight paper explores the reasons for that undervaluation and outlines some potential paths to improve this at industry level.