Worth a read if only for an explanation of 'thembegones'. http://www.ft.com/cms/s/0/5127d432-65d0-11e4-898f-00144feabdc0.html#axzz3IU88Pxi6
8 Nov '14
By my 'simple' reckoning the market capitalisation of the enlarged CWC, based on current values, will slightly exceed the bottom two FTSE100 companies. (Wood Group and Vedanta) I think entry onto the 100 register would be no bad thing for the SP if that does happen.
7 Nov '14
Phil off the grill: Phil Bentley is inhaling the sweet, fresh breeze of freedom. He has engineered a $3 billion deal at Cable & Wireless Communications, the telecoms group he has led for just 10 months. Investors and rivals care a lot – the transaction is of the transformative sort, for good or ill. No one else will give a damn. Least of all, the TV inquisitors who gave Mr Bentley regular grillings when he ran British Gas. Mr Bentley stepped in at CWC after the U.K.-listed, Caribbean-focused group relocated to Miami. Popular predecessor Tony Rice did not fancy relocating. A witch hunt against Bosses at Centrica, Owner of British Gas, was one reason for Mr Bentley to flee the country, with the step-up from divisional Boss to top dog another. But no one gets a bargain in an auction run by JPMorgan. The multiple of trailing earnings to enterprise value is 12.3 times. That compares with 7.4 times for Vodafone and 5 times for CWC, according to S&P CIQ. The company believes the number will be nearer to 10 times when the deal closes next Easter. It is reassuring U.S. cable tycoon John Malone has elected to take shares equivalent to 13% of CWC for his stake in Columbus.
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.