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Got in yesterday & topped up today.
It seems that CWC are stuck with these but Monaco makes good money. Not sure about Seychelles. Monaco is a tax haven and that must create a lot of internet and telephone traffic as in many of the Caribbean islands/places. Presumably if CWC were taken over as a unit then Monaco and Seychelles would not be a problem. Divestment as separate entities does not seem so easy!. My hope is that CWC will do what it says by developing the Caribbean network into the best local operator. Mr Bentley seems confident having apparently matched his golden hello with an equal amount of shares from his own resources. Mark Wilson the incoming CEO of Aviva bought a bundle of shares in the company as did the Directors of Thomas Cook which always instills confidence. I think that every effort will be made to make CWC the prime force in the Caribbean and hopefully this will lead onwards and upwards. The dividend has been generous recently and the sp is back to somwewhere near its price at the demerger with Cable and Wireless. I am cautiously optimistic and have bought more shares but DYOR. GLA
CWC just sold out of mainland China (Macau) and the comapny's declared strategy is to now become the leading full service telecom provider in the Caribbean. Don't think China is particulary close to the Caribbean. :)
Just noted that the new CEO has worked in China before. China is opening up some of it's telecoms to private companies. Conspire away guys and gals but I think that this might just be an ace in the hole if CWC is thinking about China as an opportunity.
http://uk.finance.yahoo.com/news/cable-wireless-ceo-spends-almost-165600507.html
Top Director Buys Cable & Wireless Communications (CWC) Director name: Mr Phillip Bentley Amount purchased: 4,300,000 @ 56.91p Value: £2,447,130
have crossed 5%...interesting.......
4,300,000 £2,447,215.96
"Vodafone, flush with cash from the $130bn (£79bn) sale of its stake in US mobile operator Verizon Wireless, is looking to expand in its European and emerging markets by offering a bundle of services including broadband and pay television in addition to its core mobile business." http://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/telecoms/10548542/Vodafone-eyes-deal-to-become-Indias-biggest-operator.html
i think there is enough positive feedback/confidence around this company at the moment to take it easily through & beyond the 60p level, imho...
60p was my target 6 weeks ago. Too sell now or not? If the t/o rumours dwindle the sp is bound to return to 40p. What to do, what to do!!
looks as though we are on the way to breaching the 60p level soon......
Well i've fired my arrow, i'm going to start looking at where to put the cash. I'm a long way off retirement and i don't like paying a lot for my shares and some of the banks look interesting, so i'll have to put my thinking cap on. Good luck everyone and have a happy new trading year..
The on-going increase in the SP has little if anything to do with Phil Bentley but is rather related to the TO rumours that publicly surfaced earlier this month. Looking at the value of trading in CWC for the month of November I noticed that is was three times the norm and for December it is going to be four times the norm. (Source - the Stock Exchange) I suspect the Market knows a lot more about the TO rumours than small private investors do and it is because there is some substance to the TO talk that we are seeing this amazing SP increase. As foggy says, when first demerged the SP was about 60p so there is a way to go yet. Happy New Year all and good luck.
Each day there is a large (ish ) purchase and has been for some days now Let us not forget that when CWC first split from CWW , it was 60p. This does not look expensive to me by some margim . Tomorrow it opens at 56.95
Without the use of a crystal ball knowing when to take profits is like trying to ht a target 15 yards away, with a blindfold on, after being spun around several times, you just have make your own decision when to let the arrow go. I have to say i'm surprised the share price has lifted as much as it has. The share price seemed to gradually start climbing from around 40p to the 47/48p area after the announcement about Phil Bentley. Along the way, looking at volumes, it seemed to get a few pushes 30/10/13 with an announcement about spectrum in Panama, then on the 7th Nov with the release of the interim results it got the nudge that took it up to the 48p mark. Then on the 4th Dec i think the the Seychelles announcement nudged it down to just under 47p and it hovered around 47p until the 16th Dec when, i presume, the TO rumors started. Volumes stayed higher that normal up to the 20th Dec closing just under 55p. Since then the share price has drifted up on low to average volumes.
You could be correct fleccy. I was very happy that the CWC BOD hired him, looks to have a great track record of returning value to shareholders at British Gas. SP was stuck around 40p for a long time, was happy to pick up the good yield however is tempting to take some profits now I must say.
I've been a bit bored waiting for my dinner so i looked at the weekly share price, going back to the week where noticeable increases stared occurring and it does seem to coincide with the announcement that Phil Bentley is taking over. Select 3M and weekly. http://performance.morningstar.com/stock/performance-return.action?p=price_history_page&t=CWC®ion=gbr&culture=en-US&ownerCountry=USA
I've been looking at this website and hopefully it's up to date, it says "Data displayed as of 11/30/2013" It gives info on share ownership in CWC and other useful information. http://investors.morningstar.com/ownership/shareholders-overview.html?t=CWC®ion=gbr&culture=en-US&ownerCountry=USA
There seems to be a lot of low volume trades going through today and it' seems to be working to lift the share price. Things will get more interesting January through to March. i suspect that CWC is attracting a lot of private shareholders willing to take a punt, on the back of the T/O rumours, due to the lower price of the shares compared to some other companies. Anyone that bought at 50p has already made over 10% on the current share price and private shareholders would be more likely to hold than the professionals. I don't know if there are any big shareholders in CWC, but i suppose they would be the ones who'll decide the future direction of the shares. If they decide to unload a big stake, then that could change things dramatically, if they decide to hold then the share price may hold, or increase.
Cable & Wireless Communications Plc ("CWC") today announces that it has agreed with Batelco to unwind the previous transfer of a 25% shareholding in Compagnie Monegasque de Communication SAM ("CMC") from CWC to Batelco. CWC has re-paid to Batelco the US$100 million paid by Batelco to CWC upon completion of the Islands disposal and Batelco has re-transferred to CWC the 25% shareholding in CMC. All option arrangements between CWC and Batelco in relation to CMC have terminated
Good info Fleccy
Yes, upwards again whilst the FTSE is generally down a bit including some losses on VOD and BSY where there have also been TO rumours. I have been scouring the web for more news but can't find anything new for CWC anywhere. The on-going increase has to be justified by something solid.
Still cracking on upwards today with no apparent sign of profit taking yet.
I suspect a takeover of CWC wouldn't be straightforward. BTC is 51% owned by CWC with the other 49% owned by the Bahamas government, CW Panama is 49% owned by CWC, 49% by the Panama Government 2% by the employees, TSTT 49% owned by CWC. From Wiki " Monaco Telecom is 55% owned by Compagnie Monagasque de Communications SAM (CMC) which is 75% owned by Cable & Wireless Communications and 25% by Batelco Group. 6% of CMC's shares are held in Trust. The rest of the 45% of Monaco Telecom's shares are owned by the Principality. CWC has management control." Lime which is wholly run by CWC is'n't as much of a problem, me thinks. I think you can see where i'm going with this, because a large part of CWC is made up different companies not wholly owned by CWC it's may be a problem for a takeover, due to the due diligence required and all the agreements that would need to be sorted out with various different parties, you've only need to look at the recent problems with the Batelco deal falling apart in relation to Monaco Telecom and the Seychelles. One way forward may be for CWC to acquire full ownership of these companies, much the same as Verizon Communication have, by agreeing to a deal that will give them full ownership of Verizon Wireless. I think CWC is a good growth prospect, but a takeover may be difficult. If anything i've stated is incorrect, apologies in advance and i'll happily stand corrected.