This (mis)management are particularly bad... They have ruined this company. They turned down a $40/share offer a few years ago, and ran to Barclays and got this poison pill gem by way of advice on "saving" the company. Thanks guys! The best way to save this company is to be rid of this BOD and management. There cannot be any worse alternative out there. The hedgies know this and are running the PPS down to shake out all the weak hands and take out the stop losses. They are in control here, while management fiddle, worried for their own jobs. I think we will see $5+ yet.
Because it exists nowhere outside of your mind. Any stake over 5% must be reported within days, and there is now a poison pill in place - discuss...
Great recap. I think you're right though - The open bid will be around $10 / $10.50, but it'll go for about $12.50 / $13, coz there's way too many players in this pool to take it too cheap, but they sure have the numbers to roll the BOD, so it will happen before the summer. High Short interest will drive up the PPS once the first offer is announced. IMHO
A review of your posts indicates you never have anything positive to say. Says a lot about a person... Have a nice weekend!
Right. Funny that there was news in July about sale of Argentina to Slim in July, and then... = crickets =
1 July 2013:
Carlos Slim has held negotiations with Nextel to acquire its Argentinean unit, local newspaper Clarin reports, without citing sources. Also interested in the purchase is Argentine businessman Eduardo Eurnekian, who recently opened a chip plant near Buenos Aires, to tap the Latin American market for credit cards, mobile phones and electronic identification services.
Sir Richard Branson has announced plans to take on fellow billionaire Carlos Slim on his home turf in the Mexican mobile market.
26 Sep 2013:
The Virgin entrepreneur’s attack follows a change in Mexican law earlier this year designed to loosen America Movil’s stranglehold on the country’s telecoms market...
...The remainder of the Mexican mobile market not controlled by Mr Slim is currently shared between operators owned by Telefonica, Grupo Salinas and a subsidiary of the American mobile network Sprint.
Virgin Mobile plans to enter the fray next year.
Thanks very much for your thoughtful response - much appreciated.
I know the company has been selling assets - such as their Peru division, 1/2 their towers in Brazil and Mexico, and are looking at further sales. We got a bump mid-year with some talk of an Argentine deal, but nothing further. They got hammered because, as you say, they are saying they will plough the revenue into expanding Mexico and Brazil 3G network, rather than pay down debt, and that's not what WS wanted to hear... Earnings have never been good, and we consistently get beaten down on them, but having put $1.2B in in the last 6 months, surely this doesn't have to be this low right now? PPS was $4+ in March, but there have been those sales since then, so I just don't get it...
Thanks for your research, much appreciated!
Forgive me, but is your message here that NIHD long common stock holders should bail, or not? Not that I'm going to blindly take advice from a YMB, but understanding your point more clearly can't hurt. TIA!
Its a far cry from the $40 that (mis)management passed up in 2010, and ran off to Barclays in order to "protect" us (or their jobs??) from that "hostile" takeover. We can only dream of that price now... Having said that, I have traded this and taken my profits when I got them. I agree with the price range you've come up with, although I think a buyout offer may be a little longer in the works. However, there are a lotta shorts on this stock, so if a buyout offer does come, you may well more from the squeeze, unless that's whats been going on recently. Also, there are a few investment vehicles with an interest here - any first offer received may very well not be the last...