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the same market that took it up to 160p?? Yes we all got together and had a chat over the weekend and decided it was too expensive...
the market thinks it is expensive....
back to 117, my buy in point.....
Mention below of shenanigins and shill bidding. Very unusual for such a new company to win such a prestigous deal.
The situation was mentioned - https://nairametrics.com/2022/02/04/alhaji-musbau-mohammad-bashir-the-man-behind-mafab-communications-5g-license-winner/
Mafab Communications
Mr Bashir came to the limelight after Mafab, his telecoms company won the bid for the 5G technology spectrum auction.
Mafab was on the lips of many Nigerians as they wondered about the financial capacity of the company that beat the popular Airtel Nigeria on the 5G auction.
Mafab is one of the technological subsidiaries of Althani Group of companies.it was incorporated on July, 8, 2020 and is licensed by NCC to provide and operate Local Interconnect and International carrier services.
Next major news results 2nd Feb , thats all i can find , took a few , lowest ever paid
https://airtel.africa/#/pages/investors?tab=financial-calendar
Looks like more buys than sells yet the sp losing ground every week.
Fear this is going the way of vod i.e. lots of investment but without the ROI.
Looks like the charts are wrong , no bounce yet only the Dividends paid today......atb
The two (soon maybe 3) successful bidders have all paid (will pay) the same price, so high bidding hasn't really given businesses any advantage, apart from an early launch for MTN. The two market leaders will potentially now dominate the market even more than before, which doesn't seem great for Nigerian consumers. This kind of unpredictable government shenanigans is a discouraging aspect of operating in Africa, but AAF management and it's Indian majority owners seem to have a good grasp of the situation and of how to navigate choppy waters - parent company Airtel has faced similar challenges in India.
The recent behavior of the Nigerian govt. is what has suppressed the SP, imo, because it is their largest and fastest growing market. Despite this, a likely continuation of strong underlying growth may force the SP back to a rising trend fairly soon, imo.
I'm sure Nigeria saw this coming.
Danger this will go the way of Vod in paying out a fortune for assets with sales not covering.
It feels as though Airtel have been the victim of a shill bidding scam...
Two bidders Airtel is outbid by a $273.6 million bid.
Authority sets the minimum price and re-runs the auction
Original bidder vanishes leaving Airtel paying (quite possibly) over the odds for a licence....
Or am I the only one with this opinion?
ABUJA, Dec 7 - Airtel Africa AAF.L emerged as the sole bidder for a 5G high-speed spectrum licence in Nigeria's second round of licensing after another company failed to pay a deposit to continue with the auction, the regulator said on Wednesday.
The Nigerian Communications Commission (NCC) issued the country's first 5G licences to MTN Nigeria MTNN.LG and Mafab
Communications last year in December after the companies each paid $273.6 million.
NCC said Standard Network & Connections Limited failed to pay the required "intention to bid deposit," leaving Airtel the
only bidder. The regulator has set a reserve price of $273.6 million for the new 5G spectrum licence with a tenure of 10 years.
Stuck in 120-ish range until further news, which no doubt because I'm invested here will be to the downside. Especially if we miss out on the next 5G auction. 5G is just a load of hype of course. Why would that be of any benefit? It's just a way of the govts making money.
is this news good or bad?? i guess someone believes in the company
Yes back up....thats my interpretation of the charts...but how high?.....atb
are we on the way back up?? bought at 117 so looking good, but no reason for the recent fillip, perhaps i got lucky and it hit the bottom
Isn't that the whole idea of an auction, people pay market rate at that time..if demand increases the following year then naturally the price will likely be higher.
If there is less demand or the cou try enters a recession the bids are going to be lower.
The market sets the rate!
Utter madness.
This article states that, as of 5 days ago, only MTN and Airtel had shown any interest in this year's auction. Since there are two lots, as things stand they would both only need to bid the reserve price to get one each?
https://nairametrics.com/2022/11/17/why-mtn-nigeria-wants-to-bid-for-another-5g-spectrum-this-year/
The article cuvio linked to points out that one problem with the second auction is that MTN, who already have a license, are allowed to, and intend to, bid for another one. If they won again, they would then hold a completely dominant position in the market.
Nigerian govt. apparently can't see any problem with that. Their reasoning is that the auction must be open and 'transparent', which completely ignores the actual issue - the glaring and obvious danger of monopoly and lack of competition which would, indisputably, be bad for the industry and bad for Nigerians in the long run. It seems like the main aim of the auctions is to maximise short term govt. revenue regardless of the long term cost.
So, what happens if AAF cannot secure the 5G license?
Curious I agree. At some stage they will get 5g.
Basically airtel were outbid for first auction which went for $273.6 million, way above base of $190 million. Airtel offered $270 million.
It then tried to buy 5g at $ 273.6 million to avoid a 2nd auction for new licences. Ncc rejected this saying $273.
6 million was now new base and new licences will have to go to auction. So basically will have to bid again at higher price against lower grade telecoms. But in blind auctions who knows the price.
What I cannot get my head around is how two original winners managed to both bid $273.6 million.
Kuala, why was it rejected?
Could this drive the SP under £1 ?? The NCC rejected Airtel's bid for 5G bid
Robin, vodaphone has twice as much debt as the value of the sp. Airtel may have fell in unison, but it is not Vodaphone. Also the mobile money side must have huge potential.
So - explain the falling sp!
It's like all the long running ludicrous targets for Vodafone - complete fiction/deception.