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No
Now thats settled can we expect a bid for CWC within days. The Dollar is strong at the momnent but sterling is likely to get stronger quicker which could force out the USA bidder
Thanks for that. Sounds like a compromise all round. Hope the Market approves. At least we know where we are. Fingers crossed and GLA
Should see an RNS about this tomorrow http://www.tribune242.com/news/2014/jan/21/trust-gets-2-of-btc-in-face-saving-deal/
Seems that 2% of BTC is to be placed into some form of trust fund with no voting rights so the Government is happy and there will be no impact on control of the company. http://www.tribune242.com/news/2014/jan/22/face-saving-deal-btc/
Thanks for view with which I entirely agree although the recent drop has made me nervous. I was not aware of Digicel and am reassured by your info on this. If JPMORGAN are that bullish good for them. We seem to be on or about the average so hopefully things will improve once Bahamas sorted out. The Market does not like uncertainty.
Digicel have a similar operating footprint in the Caribean to CWC and are probably their main competitor. This has been the position for a number of years so the announcement by the principal owner of Digicel (Denis O'brien) isn't a big surprise. Given that CWC have already embarked on their own 4G LTE network upgrades across the region Digicel had to match this or fall behind. I suspect the drop in the SP is partly attributable to the Bahamas situation but personally I am not worried by this as I do not believ CWC are going to give up management control of the company and will only give up 2% of BTC if they get something meaningful in return. There is supposed to be news of this today. QUANT, with respect I suggest you do not understand the nature of CWC, they are not in the business of manufacturing consumer electronic products. Have a read of thier last annual report. http://www.cwc.com/assets/uploads/files/CoSec/2013/CWC_Annual_Report_2013_interactive.pdf
Do CWC do anything in the residential market at all, such as HDMI cables for 4K TVs etc? I was looking for cheap hdmi cables at http://5starcables.com/ and think I have some good comparables for the best hdmi cables there but just thought if 4K as a format really takes off then these guys will make a killing especially with high quality hdmi cables, hdmi splitters and the like. If they are not in this market should they be I guess is my question. Shoud they be in the same hdmi market as companies like 5Star - not sure if that would be good or bad myself to be honest. Any thoughts are most welcome as ever.
Does this company pose a threat to CWC?
Any reason for today's drop? Or just uncertainty in the Bahamas?
Businessmen versus Politicians. They should run rings round them. I would want a healthy premium and a managment contract in return for controling interest or force them to but the lot back at the standard average 40% premium
Thanks for that. Perhaps CWC playing hardball. Wait and see I guess.
http://www.tribune242.com/news/2014/jan/15/silence-over-scheduled-btc-meeting/
Thanks a lot. It would be good to know. I have Google Alerts up and running but they only seem to report every day at 8 am! I guess the Bahamas are about 7 hours behind England so we have to be patient. Hope the deal is ok and that the Govt do not remege upon it in another year! I also agree that an RNS is more than likely.. CWC's own website is not a great deal of help either.
I have been trawling the Bahamian press sites this morning but it seems they haven't woken up yet, still showing yesterday's articles, but will look again at lunchtime. I expect a change of this nature will warrant an RNS so I will be monitoring those sources too. As soon as I see something I will post details unless someone else gets them first. GL
Any idea what has been agreed? News due about now? To a degree a pistol was held to CWC's corporate head otherwise there would have been no negotiations! Am optimistic that Phil Bentley will move CWC in the right direction. Take over of course always a possibility as presumably the Americans would prefer to control Central American telephones in their own back yard so to speak..
I suspect that Tony Rice will have previously negotiated terms that are favourable to the company, perhaps by assuring management independance for a prolonged period, thereby dlivering continuity that the 'markets' will approve with a modest SP rise.
Its a nothing issue about the Politicians wanting control. With a bit of luck they might get a reasonable premium - say 20% from the Government to buy it back 100%.
It seems that negotiations have been ongoing for some time to sell back 2pc of BTC to the local government. It seems this is what to be announced next week but the outstanding question is what are to be the terms. BTC is hardly the 'jewel in the crown' of CWC but nevertheless is an important asset. Is the terms deliver long term stability between CWC and the government without adversely affecting local control then we should she a modest SP increase. Of course if this agreement has been achieved 'with a gun to the head' of CWC then we can expect an SP fall. http://www.tribune242.com/news/2013/oct/19/pm-negotiations-may-have-played-role-cable-wireles/
That may be so, but the fact is that the Espirito Santo piece also ends with the following summary "Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of GBX 46.89 ($0.77)."
Subject header was too long sorry, source was North Fork website.
Just read this on the web.