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Comsman, Are you sure the 15m was not just the "uncrossing trade" marked (UT). This happens for all shares as the books are settled just after trading closes and is often mistaken for a late buy or sell. Fridays UT was 12.6M so in the same ball park. Cannot check Thursday's UT as it has scrolled off the end of the ticker by now.
Not quite +2.5% by the close yesterday but nevertheless a welcome rise Grayling. (There seemed to be an after hours trade of fifteen million shares, wonder what that was about.)
As if to answer you Comsman it has perked up to the tune of + 2.5% or so this am! Don't get me wrong, I was beginning to wonder what was going on as well having bought in recently at 65p.
Can’t help but feel the SP drop over the past weeks is disproportianate to the worries about Greece that seem to be affecting all European markets. After all, none of CWC’s income comes out of Europe. Last time I saw a protracted gradual fall in the SP like this was the months prior to the Columbus announcement. Obviously there were those ‘in the know’ rergarding that transaction well before the offcial announcement was made. Me wonders therefore if there is someting major about to happen such as another purchase in the Caribbean or, God forbid, some serious negative development affecting the company.
Cwc' big rival in Caribbean is Digicel owned by Irish tycoon Denis O'Brien. He's lost out to us on the Columbus deal and is now up to his neck in legal hassle in Ireland over his past banking arrangements. At the very least having his eye off the ball will be good for us.
Some investment analyst recently said that whilst most of tha cable industry leaders were playing chequers, John Malone is playing chess and thinking three moves ahead. With his thirteen percent stake in CWC he is a key individual to watch and a little Internet search on him earlier threw up three new developments for his Liberty Global company that suggests he is setting things up for expansion in the Caribbean. The first is the appointment of a new COO for his Latin America operations, one Betzalel Kenigsztein who is currently in charge of Liberty in Central Europe. The second is the setting up of the Latin America operations as a standalone business with a declaration that it is to be grown because of the growth opportunities in this region and the last developments is a further acquisition by Liberty in Puerto Rico. The links below go to each one of these stories. It seems to me therefore that CWC may already be a target for Mr Malone which would be good for investors if it wasn't for his reputation for always ending up with the best side of the deal! http://www.multichannel.com/news/people/kenigsztein-shifts-gears-liberty-global/391053 http://www.multichannel.com/news/news-articles/liberty-global-establish-latin-american-tracker/384978 http://www.bizjournals.com/denver/news/2015/06/04/liberty-global-completes-272-5m-puerto-rican-cable.html
Sorry, just realise they went ex div today.
Quite a big drop by cwc's standards. Anyone have any thoughts?
Thanks for posting that comsman it is a very balanced piece. I am happy to hold for the dividend at present, but obviously any capital growth that comes organically or via a takeover is welcome. I held these before when they were near the top of the FTSE250 dividend yield table for a couple of years (2013-2014), getting in when the price was in the high thirties and exiting at 56p with a nice profit. They fell back after that, but the Columbus deal and the recent rally tempted me in again.
This is a well written and objective article that provides an insight into the CEO's thinking and basically confirms a takeover is likely in the next few years.
Hi Grayling. Whilst it is great to have him 'on board' John Malone's shareholding post completion of the merger is just13% compared to the 20% for John Risely and 3% for Brendan Paddick the two people who originally set Columbus Communications up. For him, this shareholding in CWC is relatively small and as you say he has his sights on bigger things right now so I wouldn't be too worried if he sold his holdings and concentrated on bigger enterprises. On the other hand if John Risely and Brendan Paddick bailed out next year (as the terms of the takeover allow) that would be a worry to me. For now I am sticking with CWC, the dividend is fine and I do believe that in this age of telecom consolidation it is only a matter of time before one of the larger regional players (Telefonica, America Movil or even perhaps a cash rich VOD!) will make a bid for the company. Good Luck.
Comsman as the Times piece says towards the end it all depends what John Malone does with his stake post the Columbus deal. Does he hold and support the future development of CWC or cut and run? He seems a bit distracted with eyeing up Vodafone at the moment judging by recent comments. I am not complaining about that as I also hold Vod and the price has bounced very nicely after the immediate post-results drop. Mostly I feel because Malone has shown interest in a tie up.
Don't panic, stick with it for a full year under the new arrangements and the SP will be 80p plus. The enlarged company is now attracting the attention of the mainstream financial press and might even break into the FTSE100: http://www.thesundaytimes.co.uk/sto/business/Tech_and_Media/article1556815.ece
We seem to be having a bit of a wobble over the past few days with the SP falling back from its recent high of just over 71p. I hope this not a portent of bad news to come when the results are revealed on the 20th May.
or Mexican or Spanish giant aka America Movil or Telefonica, but you are dead right kenny.
Agree that all the short term news is good but I'm holding out for a long term play expecting a U.S. Telecoms giant to move in for takeover in say 12 months time.
Saw that news a couple of days ago and it seems to have filtered through to the market. Great contract. Also the various regulatory hurdles on the way to full integration with Columbus are gradually being overcome and the major ones seem to be out of the way so really it's all systems go. Phil Bentley has certainly started to prove himself to the advantage of CWC and its shareholders
Thanks ken(4).
2 possible reasons http://www.stlucianewsonline.com/cwc-announces-olympics-2016-sponsorship/ plus the Nasdaq finished on all time high yesterday
Just hit 70p! Thanks for your opinion Toonman but there must also be some news that only insiders know at the moment.
Came aboard at 49 p in November, loving it, if it makes £1 so quickly
I can see this £1+ in 3/6mts.
It seems to have just hit 69p. No real idea why other than perhaps it is a re-rating due to positive views on the effect of the Columbus acquisition plus of course the brokers recent 87p target....On reflection it could be regarded as a share that is immune from the effects of our election (Central American/Caribbean operator based in Florida) so it is being viewed as a safe haven? Just some thoughts....
....can someone explain this rise today?