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Real-Time news about Lastminute.Com (London Stock Exchange): 0 recent articles
|mike crowsoft: Looks like I got this one completely wrong.
I see Sabre are borrowing upto $800mln and do not own a single LMC share, which is odd, given that they appear to have been in detailed discussions for some time.
It will be interesting to see what happens to the Sabre share price today.
I have a feeling that it may travel in a southerly direction.|
|afriend2u: News Item
Online travel firm Lastminute.com has received a bid approach, sending its shares as much as 43 percent higher and hanging a price tag of over 500 million pounds ($943 million) on the former dot.com darling.
A spokeswoman for Lastminute, which sells holidays and flights over the Internet at short notice, declined to name its suitor, nor to say how much it might be prepared to pay.
But suspicion quickly fell on U.S. Internet group IAC/InterActiveCorp, owner of the Expedia travel site which it plans to sell off later this year.
"There's a lot of consolidation in the sector. To make money in the online travel business, you need scale," said Robin Chhabra, an analyst at brokers Evolution Securities, who tipped Expedia as a potential bidder.
Analysts said that U.S. travel and real estate company Cendant Corp., which agreed to buy Lastminute rival Ebookers last year, might also be interested, as well as any number of private equity firms.
IAC/InterActiveCorp and Cendant were not immediately available for comment.
"The board of lastminute.com notes today's share price movement and confirms that it has received an approach which may or may not result in an offer being made for the company," Lastminute said in a brief statement to the stock market.
At 1250 GMT, its shares were up 34 percent at 141-1/2 pence,
after touching an 8-month high of 150p. The shares floated at 380 pence in March 2000 in one of the UK's most frenzied initial public offerings of the dot.com boom.
They quickly soared to as high as 555p, but then plunged to just 17p over the following two years as the technology sector bubble burst and customers cut back on travel in the following global economic downturn.
Despite the fall, Lastminute has continued to expand, spending more than 260 million pounds over the past four years on purchases in Britain, Germany, France and south Europe.
The firm has long been tipped as a potential takeover target.
"It had sunk to a relatively low ebb. The underlying business was doing OK and it was trading more cheaply than Ebookers was at the time of Ebookers' takeover," said Tim Roberts, a fund manager at Cavendish Asset Management.
Roberts' portfolio includes 120,000 Lastminute shares which he bought partly on hopes of a bid approach.
Lastminute made a pretax loss of 77.2 million pounds for 2004, and reported a slimmer-than-expected first-quarter loss in February, after three successive quarters of missing forecasts.|
|deeppockets: what is L2 like, not seen LMC price remain so static, particularly close to results, it's usually much more volatile.|
|techmark: It maybe.
Or delusions of grandeur.
ADVFB BB thread causes huge rise in LMC share price. I can see it already.
I reckon all the institutions check which thread is at top of pile here before deciding whether to buy or sell. In fact I suspect this is de facto in the city these days.|
And when a stock is manipulated higher - LMC at 310p for example, ah that's okay is it.
All those peoples pension funds that bought LMC at 310p, because it's a FTSE 250 stock.
Aside from that by far the largest amount of money in the market comes from the pension funds and institutions. I believe around 96% or something like that are long only funds.
If a company runs its business correctly and successfully it's share price will reflect that in the long term, regardless what the shorters do. The only reason to fear shorters is because you fear that your own jugdement on a company is incorrect.
I have held shares in companies that have been shorted into the ground, infact I own one at present, but I am unconcerned because I know my judgement is sound and when they come to the same conclusion as I, they are going to have to buy back their positions, which is good news for me.|
|techmark: Verbatim text of the guarantees he gave please.
I don't need a fax, I simply let gravity take its natural course in relation to LMC's share price. I am unconcerned by short term moves in the share price unlike Mr Hoberman, who should have better things to do than deal with all this nonsense.
I have been short of the stock for around 18 months.|
|techmark: What was that about companies that whine, again.
Oh yeah that's right they are a short.
Nice one LMC. It's a like a red flag to a bull.
Poor management if they worrying about short term share price movements based on something that is false. Or is it false?
Perhaps the real reason LMC are so concern is because it's not a million miles away from the truth, and the truth hurts.
If there's no issue here then LMC should just get on with running the business, produce a profit and the issue disappears.|
your extreme optimism has shown me that probably nothing else will reduce the LMC share price to realistic valuation levels except an actual declaration of bankruptcy, and I've therefore decided to wait for as long as it takes [ still short ]|
I don’t think you can compare a business like Amazon with LMC.
An internet retailer has a potential competitive advantage over a high street retailer in terms of the convenience of ordering from home/work and (one would suspect) lower overheads e.g. no high rental shop floor space etc….
However an internet retailer competing with another internet retailer (selling very similar products) can surely only compete on Price?
From where I see it, the bigger LMC gets the more overheads they will incur – the higher prices they will have to charge for “their” holidays – the less competitive they will become compared to the very, many smaller retailers, or travel businesses with their own web sites.
Amazon succeed because they sell books! The bigger Amazon gets the more purchasing power they have to negotiate good rates with the big publishers – the greater margin they can make to offset overheads and increase profit. Amazon can buy a book from one publisher and sell it around the world.
The holiday business is currently awash with surplus holidays provided by countless operators. The fact that LMC is the biggest internet site in Europe may help it (in the short term) gain business from first time users of the internet who want to use a recognised company but I don’t think it will help them gain advantageous rates with suppliers since the economies of scale thing doesn’t apply as well as it does to a product like books…The fact that LMC have a web site in Germany will not increase it’s potential for shifting Thomas Cook holidays to Spain, flying from Gatwick airport will it?
I know this is an empirical argument based on my own layman’s observations of the travel industry rather than a knowledgeable understanding of the “clever” accountancy practises that LMC might be using but it is sufficient for me to maintain a long term short position in LMC
I used LMC in the early days and it was very good but nowadays I can always find the same/similar flight/hotel/package cheaper elsewhere. I cannot see how LMC are gonig to continue to expand (profitably) and without the prospect of significant future growth the share price is unsupportable.....IMHO.|
|cir: so the reason why LMC shareholders should sell now is that another shareholder might do so after a certain date.
perhaps the ST has forgotten to mention that LMC shares are 217p, not, say, 250p, because the market thinks there is a possibility that CJ might indeed sell a portion of his holdings when he is allowed to.
when MLX sold her big chunk, there caused hardly a ripple in the share price.
i say the LMC share price will rise come tue. if the general market holds up well!|
Lastminute.Com share price data is direct from the London Stock Exchange