(Tlssf) jumped from $0.57(57 cents) to 61 cents today. Still no news to show any reason for this jump in share price. ANY INSIGHTS WILL BE APPRECIATED !
I received the cash around 3/22. I am really confused about the tax consequences. Can anyone help to clarify?
If the broker made a mistake, they are obligated t correct that mistake. Just be sure if you really want those shares. I view Telesites as a pig in a poke with a likelihood of being assessed more fees.
I have been given to understand that the people who got shares will also have a tax bill. There is a "tax" amount mentioned in the letter that came with the check I received. But on the check stub it is listed as a "fee". I called the transfer agent, and it is a fee and not a tax. This means that there is not way to recoup any of it, which benefits the U.S. government. The Mexicans would get their money either way.
If you are looking at the share price online, you need to remember that the shares are traded in Mexico only and are denominated in pesos, not dollars. You got the cash if you didn't submit a request to receive shares of Telesites or if you don't have a brokerage account that permits holding shares traded on the Mexican exchange or if your request to receive shares was deemed to have an error in it.
I also received the money but didn't request it I got .58 cents per share which I don't understand when it's selling for about 10.00 per share anyone have similar experience?
I am a US citizen, and called my account with Merrill Lynch and instructed them not to take the cash, but take telesites shares instead, which they did, and I now have the shares in my account
decoy-I have the documentation that I elected for spinoff shares. Got a call today and send they are definitely going to reverse the transaction and dividend will be negated so does not represent a taxable event. We shall see...
tpass, I went through similar situation with Wells Fargo. WF also agreed to my request to take shares instead of cash. Turned out that WF thought I was talking about the regular dividend paid by AMX, not the special dividend coming as a result of the spin-off. As a holder of AMX Adrs, we had no choice in this matter.
We had the option, and I took the shares hoping they will take off for the need of many many more cell towers needed... I'm sticking with Slim...