1. This is directly referred from somewhere, that needs to be mentioned fully. I noticed the references you have, but was not sure if this is all your ( group) work, it reads rather like an analyst's report.

2. Page 1, Market and Business Model: It will be helpful to be more specific about the Business model, in terms od consumers vs. business, geographical coverage and global vs. the US market, and also understanding of the product lines. It was not entirely clear to me.

3. The comment about the scale and taking away market share is good.

4. "Quality" is one factor that I did not see, which is important in this service business, coverage, connectivity, receptivity etc. are common consumer complaints and there may be differences among the providers such as VZ and others.

5. As a conclusion to this particular section, I would summarize a part which articulates the overall effect of the soft factors on the value question, in a way that should help the final stock recommendation objective.