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the average target SP is 52P.
Espirito Santo Execution Noble Buy 47.40 60.00 62.00 Reiterates JP Morgan Cazenove Neutral 47.40 43.00 43.00 Reiterates Deutsche Bank Buy 47.40 57.00 57.00 Reiterates
50p would be sweet.
I sent an email question to the panel at today's Interim Results presentation and although my question was not read out during the webcast, Tony Rice graciously sent me a personal reply a few hours later. In his reply he infers that he may not be entirely 'out of company management' and so I for one will watch with interest to see if he secures a role elsewhere. The task of rejuvenating the CWC half of the old Cable & Wireless must have been difficult. Of course, the incumbent Chairman, Sir Richard Lapthorne, is now past 70 and Tony could be being lined up for that role. He would certainly get my vote!
CWC CABLE@WIRELESS Broker Targets........ Cable & Wireless Communications Broker Views Date Broker Recommendation Price Old target price New target price Notes 31 Oct Espirito Santo Execution Noble Buy 48.34 60.00 60.00 Reiterates 21 Oct Deutsche Bank Buy 48.34 57.00 57.00 Reiterates 16 Oct Goldman Sachs Neutral 48.34 45.00 50.00 Reiterates 30 Sep Citigroup Neutral 48.34 43.00 43.00 Reiterates Expecting upgrades in next 48 hours.
Tony Rice just announced he will not be selling ANY of his shares in the immediate future and intends to remain CWC's largest private shareholder. That's gotta be good news.
Very pleased with that and looking at sp breakout,,,,,,,,,,,,,,,new ceo to boot,,,,,,,,,one to tuck away for bigger rewards ! DYOR
Hi. I will a very happy man if the take out price is 70p. There is an interim business update tomorrow, the last from Tony Rice, so fingers crossed he will leave us with good news.
Agree with everything you say except I see the bid premium in telecoms from an American purchaser at over 50% eg a take out price above 70p
Hi, from my perspective CWC will become a likely takeover target sometime next year or in 2015 once it has completed establishing its new corporate HQ in Miami and revenues start returning to or exceeding previous levels. In the past 12 months have of the group has been sold off effectively leaving the company debt free, although I suspect it will retain a moderate level of debt to fund investments in 4G networks and secure new spectrum capacity as per the recent Panama deal. It is suggested by the company that there is great scope to increase revenues based on new data services due there only being low levels of data users in the pan-Caribbean region at the moment. The recent structural changes to the company have been led by Tony Rice who is well respected by institutions and his personal holding of over 20 million shares gives us small investors a lot of confidence in him too. His recently announced departure was therefore a bit of a concern and there was a small dip in the SP. However, it is fairly understandable why he wants to leave, he is over sixty and does not want to relocate to Miami, and his replacement in Phil Bentley looks promising. CWC are operating in stable Caribbean countries and pay a sustainable 6% dividend so to me with a potential 25% takeover premium are a good share to hold. Hope this helps.
Cable & Wireless Communications PLC - Agreement to secure mobile spectrum in Panama
31 Oct 13 Cable & Wireless... Espirito Santo Execution Noble Buy 46.53 60.00 60.00 Reiterates
Looks to have broken out so in for a few........like the history of PHIL BENTLEY,,,,,,,did wonders for British Gas,,,,,,,,,,,DYOR
Just logged on to see overall return is now sitting @ 11.14%...still in
remember wnen new boss come here people sceptic he is fine gla for divi
NKOTB, hang in there pal. There's a way to go yet, don't bail out too soon.
Today's RNS has been well received by the market it seems.
My tickle is up 8.48% since 10 September.......10% and then I cut loose.
It seems that regulatory approval for the Monaco sale has not been forthcoming from the Principality of Monaco. When the deal was struck Batelco acquired a 25% shareholding in Compagnie Monegasque de Communication SAM(“CMC”)owned by CWC, which holds a 55% interest in Monaco Telecom. If approval is not forthcoming Batelco has I believe an option to sell back to CWC that 25% holding at an agreed price. Not sure if CWC can force such a sale back under those circs ie is it a 2 way or one way option (if I am right that it exists!)? The comment in the last interim management statement from CWC was terse and included the Seychelles operation - "We are continuing to progress the Seychelles and Monaco disposalsbut at this time there is no further update" I have not seen anything since then. There is also a fuss in I believ the Bahamas where the Government feels it has been hard done by and should not have sold a majority stake in its Telecoms business to CWC. Mr Bentley therefore has one or two matters of importance to iron out. If he can do so and I am optimistic that he can then we should be looking at a higher sp and a more valuable company to be taken over. I was also a shareholder in CWW and disappointed at the low TO price. I hope that Mr Bentley will do considerably better if it does come to a TO which like Comsman I think is very much on the cards . GLA; DYOR etc... ..
Managment change and IMS driving us Higher. Hope to see 50+ by Xmas
I agree with comments made. I think Mr. Bentley looks like a great hire on paper. Great track record of returning shareholder value at British Gas, looks like the right kinds of person to take us to the next level after Tony Rice did a good job simplifying the business model. I am sure Rice would have had some input In the decision, based on his long track record with the CWC & in view of his own personal investment. Question, is the Monaco sale dead in the water, I thought they just extended the deadline?
Hi Barlew. I think a TO at some point is inevitable, just hope the business/SP improves before then so unlike CWW the company is not sold on the cheap. I was initially unsettled by the news of Tony Rice leaving, I have watched him through many of his webcasts and he I stills confidence as does his personal holding of CWC shares. After doing a bit of research on Phil Bentley it's pretty obvious he is a man with a point to prove, i,e, he can perform as a CEO. He has probably done a lot of research into CWC himself and would note take on a company where he had a good chance of making significant improvements and thereby set himself up for a CEO position in the 'big league' he is used to. Consolidation in the mobile sector is a given now and if CWC starts to delivered the promised mobile data based growth would nicely fit in with all 3 of the big US carriers given the proximity to their 'home turf' and dependency on US tourists of some of CWC's turnover.
Deutsche Bank have today reiterated buy with target of 57p. Perhaps they have high hopes of Phil Bentley or of interim management statement on Nov 7 or both. I am optimistic and not being able to sell Monaco because of local objections is probably a blessing in disguise as it is such a good earner. Will be interesting to see what happens when HO moves to Florida. My guess is a TO from somebody in the States such as Columbus.
Early indications are strong results. Should head higher
Time will tell. I had some satisfaction in the fact that Tony Rice had such a large personal exposure to CWC with his many millions of shares. Us shareholders are now facing a time of some uncertainty and I think the SP is refelcecting this with today's decrease. I suspect it will drop further tomorrow. No matter how good Phil Bently has been elsewhere, that is no guarantee for what he will do at this company. The November interims are of even more importance now.