As a DTV shareholder, I was uncertain about what would happen post acquisition. This has been good so far.
I wish now that I had purchased more shares at the time.
Have you heard of "buy low sell high"? This is a buying opportunity.
This is a typical market over-reaction. Most of the news was good, and what was bad was only 2 cents off.
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 would contact Telefonica. Every time there is activity like this, the company documents how to revise the cost basis calculation. The complication here is that TEF is an ADR, so I don't know if they are required to follow the same rules. I also hold AMX, and they issue a statement every time their actions result in a change in cost basis. Maybe the transfer agent can help you find it.
I am a longtime shareholder, but I would caution you on buying based on share price alone. GSK is not considered to be in the best financial condition, and their pipeline might not be the best. (There were some recent announcements I have not analyzed yet.) Do not buy without research, your own or information from a reliable source. It's better to buy the best of the best on the dips.