They are selling at 72 cents.
I cannot figure out whether they are junior or senior.
If they are senior then they are in trouble, If it is junior then equity will recover.
But short interest is huge.
Looks we have negotiations are proceeding smoothly.
I would be happy with $5 per share.
A Blue chip company beaten down.
This is amazing that they are willing to go through with the same stratergy when they should be consolidating the industry.
This is another 3 months of dead money I guess.
africa card is the only one item which oibr can use.
All others are done, too much debt, competitors have better network and finally oibr is made to spend on unnecessary items.
The reason oibr is selling is because TIM is not going to buy it.
Vivendi new majority owners of TI wants it to get out Brazil and focus on Europe.
So it looks like a bigger player like ATT could buyout TIM.
This leaves OIBR to sink or swim on its own.
Now the wildcard is africatel, if they can sell the stake or start collecting Dividends then OIBR can get some relief. If not like Nextel Latin America, OIBR will have to file BK to get rid of its onerous debt.
OIBR will only move if they can convince Africatel to start paying Dividends and somehow get the 25 year extension back without onerous
TIM is not going to touch OIBR, it is just possible ATT or Verizon could just buy TIM since Vivendi wants TI out of Brazil.
I have followed longtime for sometime now going back to singing machine days.
He is not a dummy as you portray.
Only issue is he does not take into account bond prices, ANR was signalling BK by October of 2014.
coco was pure bad luck similar to Washington mutual.
You had a good call with talisman mainly because of icahn who had a forethought to sell the thing before the earth came shattering down.
For my side my biggest loses have come with foreign companies and commodity players. I have actively stayed away from both.