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Their staff are rude and lazy in the branches. The phone staff are ok . They are closing so many branches as well . No Lloyd’s are a large backward giant
No harm in taking some money off the table. Well done on a good profit.
Once this hits the 4.5 the next place to go is Lloyds. Forward pe is about 8.5 and buy backs. So in time think that can go to a quid. And then move on to Barc once they have cleared out the idiots running and ruining the investment bank.
Thanks Chancer - I still have friends who are in Virgin - and I have said stay in - I firmly believe as phoenix and others have said the offer will be around 400p eventually - if - Virgin merge - theres still a possibility they may say no completely. I actually think Virgin will be stronger without the merger.
Up North the Geordies who work at VM head quarters are all singing fog on the Tyne, or so a friend who works there tells me.
Fair point gazza and well done!
While I do agree, needs must and all, I can't sit around waiting for another offer considering Virgin will have 30 days to respond (might be wrong on that). This money has enabled me to get a mortgage at a far lower rate. I'm only 33 but don't want to be working when I am 60! I want out from the rat race and paying down debt as much as possible is what I have chosen to do. As said - I think the offer is on the low side, but I still got a return of 66% - which in my book isn't too bad - it could be more, if I had waited, but I have saved 0.30% on my mortgage for the forseeable future. If I wasn't remortgaging I would still be in Virgin.
They would be better pursuing a merger with Paragon in my opinion. I built credit card scorecards for Clydesdale back in the day. Awful systems and I'm sure their current account platform is old and scratchy too. Better VM focuses on being a savings and loans bank and forgets the current account hubris as there's no money in them anyway.
I agree with phoenix this is worth at least 4 quid ( 10 times earnings)
This is just the opening chat up line and is prodicted to go higher with negotiations as brokers are saying this offer is likely to be rejected and would only be received by shareholders as lukewarm in interest. I tend to agree. It also says CYBG wants us more than we need them and that our brand is better . We are also making great moves on our own . So 49% of company and a dividend please or get lost CYBG. I also think other bidders will come forward. £4 to £4.50 please as this is where we will be in about a year on our own in my opinion
Bye!!!!
might seem foolish to some, but I'm out taken my profit and run, bought these after brexit at about 220 a share, been waiting to bail for a while, I do think Virgin Money is a good share - but - I feel it has been a bit unloved in the past, this will probably change now I have sold and watch it rocket, but I am still happy with my profit. GLA - I do believe the offer is cheap - but I put some of my mortgage savings into virgin, and considering I am remortgaging at present, this has been a welcome boost to pay some mortgage off.
I have read about this in evening standard few days ago.
Looks like banks are in a takeover frenzy
In my opinion . We are too good a target to go this cheap to a competitor in my opinion . Let a bidding war begin
Get lost CYBG . We are on the up and with you we would be on the way down . Give us 49 percent of company and massive dividend and possibly think about it . Branson will say no, as he is not a fool . Sold virgin records at a high at perfect moment. He knows this bank is going places. I own about 180000 shares in this company and this won’t get y vote at this deal
Simple thats not good enough......I think it should be straight cash (not going to happen) as it always gets messy when its shares, generally the shares would drop as loads would sell and in the end we wouldnt gain that much....VM are worth more than that as a stand alone Bank.
And they have ppi and other insurance Mia selling debts . I think it’s too early to be taken over , too cheap and the merger partner has too much bad baggage. I say no to a merger at this price with this partner .
CYBG need it . We don’t . So they should pay a lot more or we should tell them to walk on . Their share has been dropping and ours has been rising . We should be £4 to £4.50 early next year . I also think another suitor might make an appearance who could have been waiting and watching for the correct time to pounce
And take us over . Personally I would like to see at least £4 a share
This share was never going to languish at a peak of 8 forever and a day. EPS are gonna be 40p mark. TNAV be north of 3 quid. Forward pe is still therefore below 8. The £2.60 valuation was always nonsense and I don't think its about to go back there.
Another good day for VM.....lets hope it holds.....that 1 year chart makes it very tempting to sell....
...have broken 3 quid so should be pretty speedy up to 4 quid.
Hopefully today we will have a nice fill your boots pullback, so everyone can have a nice opportunity to buy loads more of these lovely shares . Hear’s hoping
Don't worry compass at least you have skin in the game, had things gone the other way you'd have looked a genius. Just enjoy the ride up from here I still then this can be at £4 by around August time.