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ITT Educational Services Inc. Message Board

mylots 3 posts  |  Last Activity: Oct 14, 2014 11:29 AM Member since: Feb 27, 2007
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  • DJ Altice SA in Talks With Oi Over Potential Bid For Portugal Telecom -- Update

    By Ruth Bender and Patricia Kowsmann
    PARIS-- Patrick Drahi has set his sights on a new multibillion telecommunications target even before he completes his biggest acquisition to date.
    Mr. Drahi's Altice SA in talks with Brazil's Oi SA over a possible bid for Portugal Telecom SGPS SA, said people familiar with the matter, a deal that could be worth up to EUR7 billion ($8.8 billion).
    "Altice has been eyeing the Portuguese market for some time and there have been talks for several months," said one of the people.
    Altice, the Luxembourg holding company controlled by Mr. Drahi, is on the verge of closing a EUR17 billion deal to buy Vivendi SA's phone unit SFR in cash and stock. The deal is expected to close by the end of year and France's competition authority is expected to give its green light later this month.
    If successful, an acquisition of Portugal Telecom would mark another big move by Mr. Drahi, who has made clear his ambition to expand the European telecom empire he started building from scratch in the 1990s by investing in underperforming cable companies.
    In an interview with The Wall Street Journal in May, the Franco-Israeli investor said he would like to buy more cable and mobile companies in countries where he is already present, including Portugal, Belgium and Israel as well as other markets such as Central and South America.
    "There is a big game to play in the consolidation of the European telecom market in which we could play a role," he said.
    Altice currently has a small presence in Portugal via cable operator Cabovisao but an acquisition of Portugal Telecom, which has both fixed and mobile operations, would make Altice one of the key players on the Portuguese telecoms market. If the deal goes ahead, it would be the second-largest acquisition for Altice in its history.
    Mr. Drahi sees potential for a lot of upside in the Portuguese telecoms market as the economy is recovering from a recession and the market faces less competition than in other markets such as France, said one of the people familiar with the matter. Portugal was hit by a recession in 2011, when it was forced to undertake austerity measures to cut its high deficit under a bailout program. It exited the program in May this year.
    But another large deal would come at a time when Mr. Drahi has to cope with paying down a huge debt load he took on to finance the SFR acquisition. Both Altice and its French unit Numericable Group SA will be heavily indebted. Mr. Drahi also faces the challenge of navigating between promises to preserve jobs in France and cutting costs at the merged group to make the business more profitable in a market where operators have suffered from stiff competition.
    The acquisition in question would be of PT Portugal, now a unit of Brazil's Oi that holds operations in Portugal and in Africa. Oi has announced its plan to sell the African operations, although no deal has been announced yet.
    While the merger between PT and Oi is expected to close only in early 2015, PT Portugal is already a unit of the Brazilian company. A PT Portugal spokeswoman declined to comment.
    A person familiar with Oi's strategy said it would make sense for the Brazilian company to sell Portugal Telecom assets in Africa and even Europe as proceeds could be used to reduce the group's debt load.
    "This may help us, providing more financial flexibility for Oi to participate in the ongoing consolidation process of the telecom industry here in Brazil," said the person.

    Sentiment: Strong Buy

  • 5.50 book value dirt cheap stock at this price

    Sentiment: Strong Buy

  • by mylots Sep 2, 2014 12:52 PM Flag

    Portugal Telecom ADR Repstg One Ord Shs forms bullish "Double Bottom" chart pattern
    Recognia has detected a "Double Bottom" chart pattern formed on Portugal Telecom ADR Repstg One Ord Shs (PT on NYSE). This bullish signal indicates that the price may rise from the close of 2.12 to the range of 2.20 - 2.24. The pattern formed over 16 days which is roughly the period of time in which the target price range may be achieved.
    Portugal Telecom ADR Repstg One Ord Shs has a current support price of 1.89 and a resistance level of 2.40.
    A Double Bottom is considered a bullish signal, indicating a possible reversal of the current downtrend to a new uptrend. Sometimes called a "W" formation because of the pattern it creates on the chart, a Double Bottom consists of two well-defined, sharp troughs at approximately the same price level. The technical event occurs when prices break out above the highest high of the formation, which confirms the pattern.
    This bullish pattern can be seen on the following chart and was detected by Recognia's proprietary pattern recognition technology.

    Sentiment: Hold

8.31-0.63(-7.05%)Nov 28 1:04 PMEST

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