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Wait till 16:00 and it will go back again. Normal "full time" trading will be resumed in a week's time. Then imo today's sp will be a bargain.
no news and SP drifting. Will it hold above 50p if nothing emerges or denials made by CWC. Flip of a coin I guess but the company seems to be doing well in its own right and the new boss starts soon and he will want to prove himself
Yesterdays rise was in line with other stocks, Vodafone rose 2.5% yesterday. There's nothing in the press to suggest any bidders since the original stories around the 16th/17th Dec, It's interesting to watch. If a bidder doesn't materialise,, i wonder if the share price will hold. My personal opinion is that there isn't a bidder hiding in the wings, but i'm quite often wrong, time will tell.
The SP has risen by a significant percentage for 4 straight days and all based on TO rumours, the Company has not released any new financial figures recently that would justify the SP increase. I think if the SP goes up significantly again today a potential bidder, or bidders, will be revealed. This could either come from the Company as Foggy suggests or new revelations in the media and probably late in the day if it comes from the Company. Of course the SP could plummet today rendering all the above just a load of 'Horlicks'! In any event, me thinks Today's the Day!
Given recent volumes and rise in SP something may be afoot. This would seem rather a small fish for VOD or AT&T but who knows. ? Liberty Global alledgedly denied an interest but that could change. What a Company says yesterday is not necessarily valid today. Sooner or later I would think CW would have to issue a statement themselves
Hope it's not VOD as their t/o of Cable and Wireless was on very shabby terms. Could also be Tata who had a go at CW but failed to raise the steam. Perhaps they are better organised this time. Hope somebody comes clean soon! The 64000 dollar question is if no bidder materialises will the price remain in the 50s or higher as by now the market must be more aware of the potential of CWC. My inclination is to hold on and see what happens. I have already sold some at the beginning of the rise - too early as it transpires so keeping the remainder pro tem. DYR and GLA
AT&T, Liberty Global, VOD or America Movil. Take your pick, could be any of them as they are all large enough to buy up CWC from petty cash and are out to expand.
After morning small drop uptrend on relatively higher volume continues. AT&T?
Still rising on huge volumes again today, if this is all based on "rumour" then it must be from a fairly credible source.
fleccy, On Monday, Tuesday and Wednesday the volume of trading was far higher thasn normal in CWC shares, by my reckoning 3 or 4 times the normal avaerage. The first press report I saw suggested AT&T were the principal suspects to buy CWC but there were others. What is left of CWC is of course in AT&T's backyard whereas CWC's cable capablities, including a juicy morsal in Monaco, compliment Liberty Global's portfolio. It's not surprising that LG refuted any interest in CWC (they would say that wouldn't they?) but even if they are really not interested then I think a number of other telcos have now woken up to the attractiveness of CWC. The best indicator for the immediate future at the moment may be the volume of trading in CWC shares, if it remains 'up' and we witness large deals then someone somewhere knows something. Good Luck.
Can anyone explain why the share price is holding since it was lifted by bid speculation? Liberty have already said they're not interested to the DM and most of the press speculation for att seems to be centered around them buying mobile carriers in Europe. Is it possible that someone else may be building a stake?
Me & Buffett think it's a good move. Good defensive FTSE100 stock, attractive price, IMO. My largest holding 20% of my PF.
Sold 1/3 CWC and bought into TSCO. Hope I don't regret it too much.
Well it must be AT & T who are causing the SP rise, it's risen steadily today.
Yep, read that too, in the DM this am.
Tucked away in this article it says Liberty aren't interested in making an offer, i haven't seen it anywhere else. http://www.thisismoney.co.uk/money/markets/article-2525550/MARKET-REPORT-Watchdog-study-stuns-Admiral.html
Been looking across the net for further rumours but unable to find any as yet so would be pleased to see others post something if they know more.
Nice one Robbo. A price of 74p is not unrealistic given the balance sheet, increasing revenues and multiples that were secured when the other bits of the business were sold off. Of course my earlier post identified AT&T as the potential buyer so a bit of a bidding war ain't impossible. Me thinks CWC's last days as a stand alone company are fast approaching and it isn't too late to make a profit here. GLA.
MARKET REPORT: City gets excited as media giant Liberty Global mulls C&W bid By GEOFF FOSTER PUBLISHED: 22:28, 16 December 2013 | UPDATED: 22:28, 16 December 2013 0 View comments As shares of Cable & Wireless Communications closed 1.77p or 4 per cent up at a two-and-a-half year high of 49p on well above average turnover, the constant buzz in dealing rooms was that John C Malone’s media giant Liberty Global is lurking. He has been running a slide rule over the company for the past couple of months and is now lining up a £1.87billion cash bid worth 74p a share. Moneybags Malone bought British cable operator and TV firm Virgin Media for around £15billion earlier this year and there has been much speculation of late that he had also approached Dutch cable operator Ziggo with a view to acquiring the remaining stake that he does not already own. But Liberty Global owns UPC Netherlands, the country’s second-largest operator, and the company may face regulatory issues if it buys Ziggo. Excited speculators are therefore convinced that Cable & Wireless Communication’s days of indepence are numbered. This year it has sold two of its four businesses for good prices, including the Macau and Islands business units as part of its strategy to focus on business on the pan American (Caribbean and Central America) region. Market report A successful bid for the group, which is moving headquarters from Holborn in London to Miami, could leave new chief executive Phil Bentley in limbo. The former British Gas chief, who made himself extremely unpopular when he oversaw a doubling in household bills while in charge of the energy giant, takes charge of the telecoms group in the New Year. Bentley apparently starts on a basic salary of £800,000 a year with a bonus worth up to £1.2million and other share awards worth north of £1million, based on performance. More... Share dealing: £12.50 flat-fee with low cost dividend reinvestment. Find out more What are the odds on there being another clause in his contract which gives him a tasty lump sum pay-out in the event of a takeover and if his services are no longer required? Remember, he is believed to have received pay, perks and pension worth up to £13million when he quit British Gas earlier this year after failing to get the top chief executive job. Read more: http://www.dailymail.co.uk/money/markets/article-2524913/MARKET-REPORT-City-gets-excited-media-giant-Liberty-Global-mulls-C-W-bid.html#ixzz2ngWnUm7e Follow us: @MailOnline on Twitter | DailyMail on Facebook
Yeah, I'll take 60p a share :)
Anyone know what sent the SP up this moring? I trawled the net but could not find any 'good news'.
Was surprised to see this board lit up light a Xmas when I looked, all down the Seychelles deal not completing. Don't think this amounts to much in itself but may suggest a TO of the rest of the company some time in the future may not be easy. The Caribbean operation is just as diverse as Monaco and Islands.
has made this more intresting gla