With the very high volume of share traded especially over in the USA over the past 10 days, I wouldn't be surprised if ITV receives a bid within the next 2 months, maybe the next 2 weeks. Last week in the US someone was hoovering up the ADR's and prepared to pay a premium on the UK share price, so I would guess that the potential acquirer is from the USA. Interesting times ahead.
I keep thinking about Liberty, why would they recall their 9.9% ITV shareholding from Goldman Sachs? Liberty were happy for GS to work their magic and bring down their average ITV purchase price. There is a reason behind this move. I thought that maybe LG were going to make a bid for ITV, but now with all the high volume of ITV ADR's traded over the past 8 trading days, I'm now thinking that LG have a USA buyer for their 9.9% holding. This would make sense, all the pieces are starting to fall into place. I could be wrong and often am. This feels different this time.
Rock.... "Yes I shaw similar linked trades between US and UK last week. There must be a benefit to someone accumulating in the US rather than London - I assume the difference is disclosure? None in US!"
Yes there must be a good reason why someone would buy ITV shares in the USA when they could pick them up a lot cheaper in the UK today. There was 28 million volume of share traded on LSE, and currently ADR's 1,237.266 equivalent UK 12.3 million.
Rock, I think that we all agree that on a day like today when pretty much everything's down across the board. Today apart I do think that the ITV share price is being held back and has been for a long time. Like I have said previously going back to last summer when GS were holding 21% of ITV. No doubt GS may not be on their own.
The FTSE100 is back below 7,000, down 160pts @6,964. Back to December 1999 levels, 21 years with no gain while the DOW has gone from 11,497 to 34,742...... More than trebled, while the FTSE100 done bugger all. Surly the next 21 years has to outperform the DOW???? I won't hold my breath on that one.
The FTSE100 is back below 7,000, down 160pts @6964. Back to December 1999 levels, 21 years with no gain while the DOW has gone from 11,497 to 34,742...... More than trebled, while the FTSE100 done bugger all. Surly the next 21 years has to outperform the DOW???? I won't hold my breath on that one.
Janus, you're right regarding the UK isn't reacting to the USA valuation. Why not? It's the same company, why should the USA valuation be any different to the UK valuation? I can only come to one conclusion that Goldman Sacks who have history of this kind of market manipulation are in charge of the ITV share price.
Going back to August of 2020 GS held over 21% in ITV shares, this includes the 9.9% that they loaned from Liberty Global. LG have now recalled their 9.9% holding. I still believe that GS have a lot to answer for.