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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Cable&Ww | CW. | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
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|---|---|---|---|---|
| 0.00 | 0.00% | 37.92 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 37.92 | 37.92 |
| Top Posts |
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Posted at 22/6/2012 21:01 by scotch broth No. They are not big enough.Small investors more likely. |
Posted at 18/6/2012 10:28 by skinny LONDO)--U.K. telecommunications operator Cable & Wireless Worldwide PLC (CW.LN) Monday secured approval for an agreed 1.04 billion pound ($1.63 billion) takeover by mobile giant Vodafone Group PLC (VOD.LN) after its largest shareholder, Orbis Investment Management Ltd., swung behind the deal.Bermuda-based investor Orbis, which has a roughly 19% stake in C&WW, had been holding out until an investor meeting later today to disclose its intentions after earlier casting doubt on whether it would support the deal. Its support paves the way for the deal to close, allowing Vodafone to use the C&WW business to create a fixed-line business in the U.K. Vodafone's 38 pence-a-share offer required the support of a 75% majority of C&WW's investors. C&WW earlier Monday said it had received support for the deal from just under 59% of its remaining shareholders, based on proxy votes cast ahead of the meeting, but that it was waiting to hear what Orbis's intentions were. |
Posted at 14/6/2012 13:40 by warranty So reading into that then Vodaphone have made a derisory offer, but Investors are supposed to be grateful for it, Darby was a plant to sell off the business and as long as Orbis don't weaken there is little chance of a deal being done. I certainly hope so on the last bit. |
Posted at 14/6/2012 10:25 by loganair Vodafone's takeover plan for CWW has been given a boost, but doubts remain. The scales have tipped a little further in favour of those long suffering Cable & Wireless Worldwide (CWW) shareholders who want to approve a Vodafone takeover offer when it is put to the vote on Monday. Glass Lewis, a shareholder advisory firm with some big North American pension fund members, has come out in favour of Vodafone's low-ball £1bn cash offer. Roughly 10% of CWW investors are from across the pond and this is good news for Vodafone, which needs all the support it can get. The deal requires acceptance from 75% of votes cast but the largest shareholder, an investment fund called Orbis, thinks CWW is being sold on the cheap. It has yet to give its blessing and stands a chance of blocking the takeover. Vodafone already has the blessing of UK adviser Institutional Shareholder Services, popular with smaller investors, who control about 10% of the stock. The CWW board and four top six holders have declared their support too, accounting for over 18%. The odds are beginning to stack in favour of a deal, but that does not make it a good one for investors. The 38p a share offer is 2% less than the company's average price over the past 12 months. Glass Lewis's own analysts note that one of Britain's biggest fibre networks is going for a song, well below the average paid for the 26 western European companies sold for over £1bn in the last year. On the other hand, there have been profit warnings, a collapse in the shares and lots of bad news from Europe in recent months. Better to take the cash than back a halfhearted turnaround plan by a chief executive who was hired, many think, to sell the company. Gavin Darby worked at Vodafone before joining CWW late last year, and his strategy for an independent future looks more like a bargaining tool to squeeze more from the buyers than a recovery story shareholders are expected to buy into. "We believe a bird in the hand is better than two in the bush, in this case," Glass Lewis has written in a note to members. Turnaround, Darby's board has pointed out, would require more capital with few returns in the medium to long term, at a time of economic uncertainty. Not so much a bird in the bush as a bird perched on a flying pig. |
Posted at 12/6/2012 09:54 by loganair Sorry if already posted before as a few days old:The Board of Cable & Wireless Worldwide has welcomed the news that ISS, a provider of corporate governance services, has recommended that shareholders back the Board's recommended acquisition by Vodafone at the upcoming Scheme of Arrangement Meetings on the 18 June. ISS recommended that shareholders vote in favour of the Vodafone offer for Cable&Wireless Worldwide. John Barton, Chairman of Cable&Wireless Worldwide, commented: "Cable&Wireless Worldwide is pleased that after a thorough and detailed independent analysis, ISS has concluded that the Board's recommendation to accept the 38p cash offer by Vodafone is in the best interests of shareholders. We welcome the significant support that this provides to the Board's position". In their analysis, ISS commented: "Based on reasonable sale process with two bidders, adequate valuation and the risk that investors face in going through a difficult turnaround, we recommend shareholders support the Vodafone offer." |
Posted at 25/5/2012 23:43 by warranty Unbelievable isn't it whilst the investors who paid out good money and actually own the company get stuffed!! What's the saying, at least highwaymen wear masks?? |
Posted at 04/5/2012 09:08 by squintyflinty12 I don't think that ORBIT will be allowed by their investors to block this deal.The share price would plunge if they did this, and they would lose all credibility with their investors.As mentioned before ,by a previous poster,they should average down and then agree to the takeover.That way,they would not be losing their clients any money. |
Posted at 25/4/2012 10:19 by loganair Vodafone £1.04bn deal to buy Cable & Wireless Worldwide looks sound. It will bring infrastructure into the group and boost the offering to business customers. The price also looks good.Vodafone is offering 38p a share a premium of more than 90pc to the share price before the talks were announced. However, some small investors are not happy with the price and have been saying so in no uncertain terms on bulletin boards. It's not just the minorities that are unhappy. Orbis, the largest shareholder with about 19pc, has also expressed concern over the valuation Vodafone said it will not raise the offer, which was recommended by C&WW's board, unless a competing bid emerges. This is less likely after India's Tata Communications withdrew from talks last week. The deal will add the largest fibre-optic network in the UK to Vodafone's mobile-phone network, which will be useful for the future management of mobile and data traffic. C&WW's board recommended the offer because it allows investors to bank their investment now instead of taking the operational risk that comes with a turnaround programme. The offer "will enable shareholders to crystallise a value, in cash, that represents a significant premium to recent trading levels, and avoid exposure to the risks inevitably presented by executing a medium-term improvement strategy", John Barton, C&WW's chairman, said. |
Posted at 24/4/2012 07:33 by mikepompeyfan Perhaps vod should offer a share alternative to cash. From The Telegraph :-Vodafone is offering 38p a share a premium of more than 90pc to the share price before the talks were announced. However, some small investors are not happy with the price and have been saying so in no uncertain terms on bulletin boards. It's not just the minorities that are unhappy. Orbis, the largest shareholder with about 19pc, has also expressed concern over the valuation. Vodafone said it will not raise the offer, which was recommended by C&WW's board, unless a competing bid emerges. This is less likely after India's Tata Communications withdrew from talks last week. The deal will add the largest fibre-optic network in the UK to Vodafone's mobile-phone network, which will be useful for the future management of mobile and data traffic. C&WW's board recommended the offer because it allows investors to bank their investment now instead of taking the operational risk that comes with a turnaround programme. The offer "will enable shareholders to crystallise a value, in cash, that represents a significant premium to recent trading levels, and avoid exposure to the risks inevitably presented by executing a medium-term improvement strategy", John Barton, C&WW's chairman, said. Whether the deal goes through or not, the main reason to own Vodafone shares is the cash-generative nature of the business. The shares are yielding a spectacular 7.5pc, rising to 7.7pc next year, making them one of the highest-yielding shares in the FTSE 100. British investors are lucky. We have the highest-yielding market in the world and the reinvestment of dividends is one of the key ways private investors can turbocharge their investment portfolio. Indeed, it was revealed yesterday that UK dividends payments increased to a record £18.8bn last quarter, boosted by special payments from Vodafone and Cairn Energy. Vodafone investors received a $2bn (£1.2bn) special payment in February, worth 4p a share. This followed the reinstatement of dividends from 45pc-owned Verizon Wireless. Investors must note that Vodafone is currently embroiled in a $2bn tax dispute with the Indian government. The mobile giant argued that the tax demand is retrospective and last week said it would consider arbitration on the matter. So, Vodafone remains an investment for income seekers. The shares are trading on a March 2013 earnings multiple of 10.7, falling to 10.3, which is not overly stretched and in line with their recent rating. Buy. |
Posted at 15/11/2011 19:58 by 7kiwi More Alphaville comment. Apparently, they've held a results conference today that served to further undermine confidence.John Pluthero Thank you and goodnight Posted by Neil Hume on Nov 15 17:18. When we last looked at the Cable & Wireless Worldwide share price (about seven hours ago) it was down around 12 per cent. By the close of play in London it was down 26 per cent. John Pluthero what have you done? The answer, it seems, is to have hosted a post results meeting that did nothing to reassure nervous investors or analysts. And we mean nothing, we really mean nothing. Mark James, the telecoms analyst at Liberum Capital, sums up the mood well. Cashflow. A simple question unanswered. CWW has cut the dividend citing the need for Balance Sheet strength. We understand that. Peers such as Colt do not pay a dividend for similar reasons. Yet CWW is unable to tell us when it believes net debt will go down rather than up. It increased by £89m in H1. Even allowing for the £77m the dividend paid in the period, demonstrably CWW does not make any money. How will the incoming CEO be measured? Mr Darby will have a discretionary bonus of up to 100% of his salary, and £600,000 of shares which will only be released upon achievement of "appropriate" performance criteria. We believe investors should ask what these criteria are. Our view is that they should have at their heart, cash generation: something lacking to date in CWW. What is strategy? The outgoing CEO has outlined a strategy of sorts. But the incoming CEO arrives in 8 days time and may have a completely different agenda. Investors will not hear the new CEO's strategy until the full year results (May 2012). Perhaps they shouldn't invest in CWW until then, either. We'd go further and ask why you'd want to hold CWW until May 2012? Surely there are better places to park your cash, unless you believe that CWW is a takeover target. And we don't. It's cheaper to lease capacity than buy at the moment. |
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