Cable&Wire Com Share Discussion Threads

[loganair] 19/11/2015 19:33

IC VIEW: The deal promises to strengthen the pair's positions in markets such as Chile and Puerto Rico and generate significant cost savings. At 77p, CWC's shares still trade at a small discount to the implied value of about 81p a share - but the deal value will ultimately depend on which offers are chosen by shareholders. Await documents.

[brancho] 18/11/2015 16:45

loganair,
Did the same thing but then adjusted and got out at just above 79p. The offer on the table is about 81p and it won't close until next year so there are only three reasons to stay in:

dividends
Possible counter offer from another party (like who?)
to acquire Liberty shares

This is going nowhere now(IMHO)and I have never tried to hold out for the max in any share - always leave a bit for the next man. Use the money to go to the next opportunity

[djwr100] 18/11/2015 16:33

Because of the complexity of this, and the history of not doing well with this company over decades, I sold yesterday at 77.7. All gone now! It's been a long wait. Many sales and buys, historically, within short times frames, and the change of company etc. So where do I get information in order to carry forward my huge losses against this 'so called' profit?

[loganair] 18/11/2015 10:41

I hope I haven't missed the boat, as I was out yesterday morning I put a 'Limit' Sell of 80p. The price reached 79.8p which I would have been extremely happy to have sold out at. I can only keep my fingers crossed there will be a spike up in the share price for me to get out as well.

[dozey3] 17/11/2015 21:21

Call-logger, you're right. I'm out.

[call-logger] 17/11/2015 20:50

Looks like they don't normally pay dividends though there was a bonus share issue for last year. From their reports, it looks like hell would freeze over before they paid out any cash

[call-logger] 17/11/2015 20:17

Blimey

Liberty Global plc is a public company with six classes of shares, which are separated into two groups:

Liberty Global Group, which includes our European operations, is traded on the NASDAQ Global Select Market under the symbols “LBTYA”, “LBTYB”, and “LBTYK”

Liberty Latin America and Caribbean Group (“LiLAC Group”), which includes our operations in that region, are traded under the symbols ”LILA”, ”LILAB”, and “LILAK”. LILA and LILAK are traded on the NASDAQ Global Select Market and LILAB is traded on the OTC link.

[darias] 17/11/2015 08:38

Out

A bird in the hand etc.

The 3p is a sweetener in order for major holders to keep the shares until the effective date. It appears that I have "lost" 2.33p a share if Liberty Global price is maintained. I can live with that.

Regards

[loganair] 17/11/2015 08:09

Currently the CWC share price is the take-over price without the 3p Special Dividend.

[sharw] 17/11/2015 00:05

This is going to get complicated folks:

"Under the Recommended Offer, which shall be subject to the Conditions and certain further terms set out in Appendix I to this announcement and to be set out in the Scheme Document, CWC Shareholders shall be entitled to receive, for each CWC Share:
• a number of New Liberty Global Class A Ordinary Shares as determined by the Exchange
Ratio, such number not to be lower than 0.007921 and not to exceed 0.008301; and
• a number of New Liberty Global Class C Ordinary Shares as determined by the Exchange
Ratio, such number not to be lower than 0.019391 and not to exceed 0.020321.
CWC Shareholders who validly elect to receive the Recommended Offer and who are on the register of members of CWC at 6 p.m. (London time) on the Business Day immediately prior to the Effective Date will also be entitled to receive the Special Dividend".

"As part of the Recommended Offer, Liberty will propose a LiLAC Alternative which will allow CWC Shareholders who are entitled to the Recommended Offer to elect to receive New LiLAC Ordinary Shares by reference to the LiLAC Exchange Ratio up to their pro rata entitlement (against their/ holdings of CWC Shares) of the New Liberty Global Ordinary Shares to which they would be entitled under the Recommended Offer. Any such election will be subject to being scaled down a nearly as reasonably practicable pro rata to the size of such elections for the LiLAC Alternative an the size of elections made for either of the Dual Share Alternatives.
If any such valid elections for the LiLAC Alternative are made, the entitlement to receive LiLAC Ordinary Shares under the Dual Share Alternatives will be scaled down as nearly as reasonably practicable pro rata to the size of such elections for the LiLAC Alternative and the size of election made for either of the Dual Share Alternatives, such that those CWC Shareholders electing for the Dual Share Alternatives would receive fewer New LiLAC Ordinary Shares and a greater number of New Liberty Global Ordinary Shares, by reference to the LiLAC Exchange Ratio. The LiLAC Alternative will not be available to shareholders who elect for the First Dual Share Alternative or the Second Dual Share Alternative".

Can I plead (probably falling on deaf ears but there is always hope) that this board is not overwhelmed by multiple "what does it all mean" or "what if I elect for X" posts. If you don't want to receive Liberty Global class A or C shares and/or LiLAC shares then just sell CWC before the deadline.

[sharw] 16/11/2015 23:53

No wonder Dozey3 is confused - people are quoting things without reference, so let me give you two:





This undoubtedly indicates an RNS before open tomorrow so all will be clear then.

[loganair] 16/11/2015 23:16

Dozey - In my good opinion this is an agreed offer that is almost certain to go through as is.

[dozey3] 16/11/2015 22:21

CWC closed today at 73.54p which suggests something of a stampede for the exit. This in turn suggests first that nobody is likely to table a better offer, and second that Mr Market thinks there's a fair risk due diligence might turn up enough nasties to stop the offer going ahead.
OTOH if one is confident the offer will proceed, then a buy and hold tomorrow will nett 10% if the deal closes in a year, and 20% if it only takes 6 months which seems more likely.

[darias] 16/11/2015 21:39

The Liberty Global Directors and the CWC Directors are pleased to announce that they have reached agreement regarding the terms of a recommended acquisition through which Liberty Global will acquire the entire issued and to be issued share capital of CWC.

-- Under the terms of the Transaction, the consideration for CWC will comprise up to approximately 31.7 million Liberty Global Class A Ordinary Shares, 77.5 million Liberty Global Class C Ordinary Shares, 3.6 million LiLAC Class A Ordinary Shares and 8.9 million LiLAC Class C Ordinary Shares. In addition, CWC will pay a special dividend in the amount of 3.00 pence per CWC Share upon closing (the "Special Dividend").

-- The aggregate consideration under the Transaction, taking into account the Special Dividend, represents a value for CWC's entire issued and to be issued share capital, as at 13 November 2015, being the last practicable date prior to this announcement, of approximately GBP3.60 billion,(1) based on 4,438,594,233 CWC Shares in issue and to be issued on 13 November 2015, being the last practicable date prior to the date of this announcement, and the Exchange Rate. The aggregate consideration implies a value of 81.04 pence per CWC Share, representing a premium of approximately 40 per cent. to the Closing Price of 58.00 pence per CWC Share on the 21 October 2015 (being the day immediately prior to the Announcement of a possible offer by Liberty Global for CWC). The actual value received by each CWC Shareholder will depend upon whether CWC Shareholders elect for the Recommended Offer, the LiLAC Alternative or one of the Dual Share Alternatives (details of which are set out in this announcement) and the relevant price of Liberty Global Shares.

[nigelmoat] 16/11/2015 20:14

Indicative offer of 86.82p a share.

[mister md] 16/11/2015 18:55

cnbc just mentioned bid confirmed. 5.2 billion dollars i think...

[djwr100] 16/11/2015 18:10

Oh, well. Maybe tomorrow?

(or did I miss it?)

[toolsmoker] 15/11/2015 21:18

Good I think

[nikesh] 15/11/2015 20:51

Good or bad?

[toolsmoker] 15/11/2015 19:34

This thing about to pop in the morning

[dozey3] 13/11/2015 13:47

Agree. Must be the right time to take it over, when they've just about sorted themselves out and Columbus has yet to feed the bottom line big time, which I fancy it will. Just can't seem to press the sell button below £1.00, which is sheer greediness on my part. We all know it's never wrong to take a profit.... But it's better to take a big one.
Good luck.

[nigelmoat] 11/11/2015 13:21

Only just over a week to go before Liberty Global have to show their hand here. IF a deal emerges could be an upside of 10-15p a share from current level. Firmly holding in the belief a deal will be done.

[loganair] 07/11/2015 17:59

First-half figures from Cable & Wireless Communications (CWC) were eclipsed by news that Liberty Global could soon mount a bid for the Caribbean and Latin American telco. The owner of Virgin Media now has until 19 November to make a firm offer. Jefferies analysts think the main draw is CWC's $8bn (£5.2bn) in tax assets - lossmaking operations to offset other profits - in the US and UK. They think a potential offer could reach 100p a share, valuing the group at north of $6.6bn.

Mounting competition and lower demand for landline services meant earnings fell in three of CWC's five territories, sending adjusted operating profits down 5 per cent to $215m. The sunshine in these results was the key Caribbean region, where constant-currency cash profits leapt 23 per cent to $213m as network investments attracted mobile and broadband subscribers.

CWC's directors also bumped up their predicted synergies from Columbus International, a regional peer acquired in March 2014. They now expect to save $125m in operating costs by March 2018, up from $85m. They recently rolled out bundles of TV, broadband, mobile and fixed-line services in the Caribbean under the 'Flow' brand, and are gearing up to launch Flow Sports Network, which will broadcast exclusive content such as Premier League football and the Rio Olympics in 2016.

Consensus forecast EPS for the full financial year is 3.3¢ (17.5¢ in FY2015).

IC VIEW:

CWC's forward enterprise value is less than 8 times forecast cash profits - in line with international peers. It has long underperformed, but cost-cutting measures, content investments and network improvements are starting to revitalise the business. In any case, the potential bid suggests investors shouldn't sell out yet. Hold.

[irenekent] 05/11/2015 07:57

Results look ok but no dividend until T/O declared or dropped. I can't see why they shouldn't pay a div if there is a T/O - this should be part of the deal or are they desperate to sell. Reminds me of what happened at Anite.