Member Info for Toonman

I have to say I sense there is some sort of end game in motion here but, of course, that is only my gut feeling. I can only base it on the evidence of the (fairly radical) restructuring and a CEO buying a sh*t load of shares. Which isn't that much I guess...but at least this outfit isn't standing still and drowning in its own gravy.

Not heard anything recently. About 6 months ago the Times mentioned that America Movil might be interested in buying CWC once the restructuring was completed. And I suppose it now is as the agreements to sell of Monaco and Macau have been signed. Tony Rice's recent purchase of more than a million pounds worth of shares was certainly a confident move! What are you hearing?

Thank you for letting us have your very informative and balanced view on Cogane. I too am long on this share and have been stuffing part of my annual ISA pot into it for several years. Apart from the obvious gain to investors in PYM it would be a great achievement to get an easily available drug into the market that combats the effects of ALS and PD.

Well at least you didn't just talk to yourself on here all day. GLA.

I have a saying which has served me well: do not talk to Cable and Wireless investors about Centamin.

As far as I can tell: 1) He is happy to p*ss in his own swimming pool but draws the line at doing the same in someone else's, especially if their swimming pool has any sort of "corporate governance" about it. 2) He will sh*t on his own doorstep but again is unlikely to perform the same act on someone else's, No idea if a "corporate governance" doorstep is any different to an ordinary one in this context. 3) He appears to have a bit of a phobia about jelly. 4) The word "trouble" resonates strongly with him. 5) Sockpuppets are strictly off limits in his world. The good news is that these principles have served him well in what , we can only assume, has been a highly rewarding life to date. We are truly blessed to have him amongst us.

RNS today announcing that the merger with Metric will all be done and dusted by the month end. Also announced that the tender offer for the share buy back will be sent out by 31st Jan. That is all I can see that has happened here today.

Thanks for your reply and explanation.I understand where you are coming from now. However I find it hard to believe that Rice would shell out over a £million of his own money as an attempt to shore up the share price. If the market does not like CWC's clearly stated strategy then a director's (albeit substantial) share purchase would surely only provide a temporary brake? I am clearly of the view that he was filling his boots whilst he could in an unrestricted period! My attitude to this stock has always been to be patient and I would fully expect some dips in the sp along the way. I do think we long term holders will end up with a much better market value than we currently have. As ever playing the market as PI is very much a case of each person following their own path....

No problem with a difference of opinion and a proper debate. The problem I do have is that, to my eyes at least, you write in riddles. I'll try two questions and if I get an answer let's see where we go: 1) You talk about Rice buying a shed load of CWC shares (in a non restricted period) and firstly you suggest that he is not buying because he thinks they are cheap but you imply that he has some other motive for buying them. If he doesn't think the shares will ultimately be good value what is that motive please? 2) A little later you accuse him of p*ssing in some corporate governance swimming pool. Please explain what pool he is p*ssing in and why?

Possibly!

It seems perfectly obvious that Rice spent £1.3 million of his own money on buying the shares because the share price is at a peak and he expects it to go down. He is clearly motivated by losing a decent chunk of his personal wealth...added to which he knows that CWC is going to slash the dividend making it an even worse investment. It's what directors tend to do you know.

Yes I'm also happy to hold and will be patient. I bought at 30p so my annual yield going forward will be about 8% which is very good. In fact for anyone investing now it is still well over 6%. I disagree with observingmen and think this is now a more likely takeover target in its restructured form. I'm also not sentimental about the company's past as a British institution. But every investor is entitled to their opinion!

A good price for the business and a good call by the Sunday Times!

Sunday Times today reckons the Macau deal is as good as done and will be announced shortly - for more than $750m.

If you dimiss something as drivel you should at least say why. The figures legalandgullible has quoted as EBITBA and debt are accurately extracted from the company's latest accounts. Care to offer us some figures of your own to back up your opinion?

Apologies - typo in my last post, final sentence should read 6% not 7%.

At the last year end CWC paid a final dividend of 5.33US Cents making an annual payment of 8 US Cents, but they said at the time that in future they will maintain the dividend at 4 US Cents per annum. The next interim dividend of 1.33 USCents will be paid in January 2013 and the final of 2.67USCents will be paid next summer. So the reason the market has ignored it is because CWC are doing what they have said they will do. Its still a yield of more than 7% so not so bad!.

Thanks for posting that. The Times and The Sunday Times seem to have good sources. They called the Vodafone takeover of C&W Worlwide several months before Vod made their move.

Well, if this goes through, the value will give a fair indication of how undervalued this share is.

Seems to be chugging along pretty well today.