Fundamentally Superloop was a wholesale provider before it was a...

Fundamentally Superloop was a wholesale provider before it was a retailer and ABB was always retail first. That's why Aussie has better customer service and reviews. On the flip side this means that Superloop has a far larger and superior network footprint (over 100,000 kilometers of fibre) and they are much better placed in the enterprise, datacentre, and wholesale market. Of late, Superloop has had fantastic momentum and increased their guidance with their largest growth on record, so that's perhaps why the valuation may seems a bit odd on paper. I would also remember that SLC was traded under book value a few years ago, so it isn't exactly a market darling either.