Fair value based on 119p UK close and 1.8524 $/� is $6.62-6.78.
also, the share repurchase continues... "Cable & Wireless PLC 18 November 2004 Cable and Wireless plc announces that on 18 November 2004, it purchased 5,000,000 ordinary shares from Cazenove & Co. Ltd at a price of 118.86p per ordinary share and now holds a total of 16,550,000 ordinary shares in Treasury. The total number of ordinary shares in issue (excluding shares held as Treasury shares) is 2,373,153,231.".
I won't post any more repurchases unless there is something unusual, like an extraordinary mumber of shares or such. Just assume they are happening every day at ~5M per day. At this rate it should take about 8 weeks to break the 10% level this first tranche is aimed at. After that there is still another 5% approved, but they would need to be retired (I think) instead of held as "treasury shares".
Note: first change of "seller" (CW starting to shop around so as not to attract too much prediction I suppose)
"RNS Number:0295G Cable & Wireless PLC 03 December 2004
Cable and Wireless plc announces that on 03 December 2004, it purchased 1,000,000 ordinary shares from Hoare Govett's affiliate, ABN AMRO Bank N.V., London Branch, at a price of 114.189p per ordinary share and now holds a total of 23,800,000 ordinary shares in Treasury. The total number of ordinary shares in issue (excluding shares held as Treasury shares) is 2,366,410,136.
Enquiries: Cable and Wireless Investor Relations :
Media : Lesley Smith Director Corporate Affairs +44 20 7315 4410 Steve Double Head of Media Communications +44 20 7315 6759 Peter Eustace Group Manager, Media Relations +44 20 7315 4495 Rollo Head /Julius Duncan Finsbury +44 20 7251 3801."