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Ok I note the optimism of others but I'm out of here. FTSE250 down another 2% today and CWC 2p off. LG is now at a 52 week low and the world is either in a bear market or a state of collective panic re oil, minerals China etc. Would rather hold cash at this time. GLA.
Ok panic selling is happening as people realize a takeover at these prices is a rip off for current shareholders. Anything less than 70p is nonsense. Someone needs to pull the plug now and allow cwc to continue trading through this current weakness in share prices and hold out for better value in the future IMHO
Now down 5% today. Is something amiss with the Liberty t/o offer? What is the last date we can sell before having to commit to accepting the offer?
Thanks Whitespirit. My account is with Stocktrade so hopefully they'll offer a solution. As an Irish resident I don't have access to the range of options UK stockholders do.
Thanks Grayling that was helpful. I nite your willingness to hold onto US paper, but think most of us will want to cash out. Let's hope a cheap broker comes along!
What's the difference between the two? Are they equally tradable? Does anyone know the tax implications of holding US paper?
In anticipation of part of the takeover proceeds being in shares in Liberty Global, I've got Equiniti to amalgamate my various holdings into one certificate. I don't want a multitude of cheques or small shareholding certificates floating about.
Hence fall in sp.
A lot of people seem to be selling now. Assuming Liberty and their agents are mopping these up I wonder if they won't have to go as high as 85p to pick up the rest if us?
Dividend announcement soon. Any thoughts?
Denis O'Brien the awful man who owns it had to pull the IPO citing market conditions. More like investors balked at Digicel's £6bn debt and the fact OBrien would keep 94% of voting rights. He was also going to trouser millions for arranging the IPO! CWC winning screen rights for Premiership football in Carib is great for us and bad for him too.
Keep an eye on Digicel's IPO on NYSE. Interesting observations on competitor position against CWC. Seem to acknowledge high competition risks allegedly through cwc!s better technology.
Somebody bought 8.5 million shares at 4.39pm today. A one off by an institution or a stake build? The timing makes me think the latter.
Only thing I can suggest is that many buy/hold cwc for the dividend and we've just had the final so some people may be selling to reinvest elsewhere for short term gain.
I'm holding mine. Although the share price is near its 52 week high so you can justify selling, this share gives good dividends of 3.5% and might be a takeover target in about a year. If you want the money to invest elsewhere just check that you can get >4%
Down
This is crazy. Barely any difference between sells and buys yet the share price is fun 10%. Who is messing with this share?
As Robert Peston points out a Greek default and even a Grexit doesn't make the problem of Greek insolvency go away. A devaluation through reversion to the drachma will instantly cause a 20% rise in the cost of debts to the euro zone making it even less likely they will be repaid.
I hold this share but worry about future dividends which are now being paid out of capital. A P/E ratio of minus 43 is not sustainable. Company needs to generate quality and sustainable earnings soon. I appreciate debt is now way down but it's cash flow we need to see rise IMHO.
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.