Goldman Sachs Group Inc. traders are urging credit investors to reconsider some of Virgin Media O2's beaten-down bonds. This recommendation comes just months after weaker earnings and mounting competition sent the telecom companies' debt sliding. The firm specifically recommends buying the companies' shorter-dated notes: Virgin Media O2's bonds due in 2029 and Vodafone Ziggo's notes maturing in 2030.

These suggestions are based on private conversations with people familiar with the matter. The move signals a potential shift in sentiment toward telecom debt that has suffered significant pressure in recent months.