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Nice big buy
12-Feb-24 15:22:00 102.00 1,979,000 Unknown* 102.00 102.20 2m O
Price Consolidated = ready for a move back up
@swingman
As @blahblahdoh states, the CEO hasnt been sacked. He will become the chair of the groups charity arm. I understand he is very passionate about that and the company undertake many projects to support local communities.
They haven't "sacked" Olusegun Ogunsanya , he is retiring in July and becoming the head of their charity organisation. His replacement, Sunil Taldar, has already worked for the parent company for 15 years, so no real reason to expect a radical change in direction based on his appointment. The family have always owned most of the company, which is really a spinoff from their main Indian operation. They started with 100% before deciding to launch it on the London market - recent purchases may seem like a large amount of money to you, but to them it's just a small additional percentage. It's probable that they just see the SP as good value at current levels. Unless you expect the Naira to be devalued every year, the growth here remains spectacular. We should, unfortunately, expect devaluation from time to time though (-:
Yes it's. bit strange since the large buy by the family at a large discount, it has started dropping. Very little news about the company in any press. This FT100 company dropped over 10% no mention anywhere.
Thanks swingman
I was wondering what was going on with this share.
It has had a dramatic drop lately
The family members and friends now own more than 72% of the company. They have been busy buying out all major shareholders at a discount. It appears the new may be announced with the results tomorrow as they have already sacked the CEO who was a figurehead since his appointment. Now another friend is coming in on 1st July and taking it Private may happen at the same time.
May be time to fill the boots before tomorrow as the news come out with the offer to purchase remaining shares at a small premium. I guess is may around 125 -130 as they already have most.
I'd say the chances of a bid here are approximately zero. It's basically a family business executing a long-term growth strategy. Far more likely to be acquiring than divesting, imo
I'm expecting a bid here. I could be wrong as well!
Predictable as ever , Sp dropped prior for paydate for reinvested dividends up a good 10% now , paying a premium today...atb
No Evanescent, that's not quite correct. The founding Bharti family have always been overwhelming controllers of this company, they own close to 70% of it now, and it's really a offshoot of the Indian parent company. Interesting that they have been increasing their stake slightly this month though - presumably they think it is undervalued
Am I right in thinking that since "Bharti Overseas Private Limited" have crossed the 15 % threshold that they must now declare their intentions regarding Airtel Africa?
Bid coming?
I recall thes at 73p, not sure they will ever drop there again. Only in a crash of some kind. Good stock otherwise.
Yep OK results, but main point 9% increase interim dividend...atb
Excellent set of results.
Well it hasn't. That's a surprise isn't it.
Regardless, this is a pleasant surprise. Let it continue
Not sure why there has been a nice rise here. But welcome it is.
Where have all the good times gone? Quite appropriate. I prefer the Van Halen version but there you are...
Good trend indeed. Where will it top though and indeed why is it getting going now?
Where have all the posters gone (song somewhere there) solid upwards trend
.
Market seems to like the update
Adjusted P/E here is around 5.
FX issues out of their control.