Cable & Wireless Share Discussion Threads

[rogermauricesmith] 10/5/2012 14:13

Cable & Wireless has announced that its results will be revealed on 21st May to co-incide with the release of the documents pertaining to Vodafone's takeover.
A clear sign that Vodafone is going ahead with the deal and that the fact that the shares trading at 14% under the bid price is ridiculous.
There is free money on the table still.

[rogermauricesmith] 10/5/2012 13:22

UBS and Deutsche selling

Yesterday, just like Tuesday the volume of buying and selling by both UBS and Deutsche Bank has sunk to a fraction of previous activity and surprise surprise the share price has gone up.

It seems clear that these two organsiations have been intervening to push the price down when it suits them.

[plastow] 10/5/2012 09:50

i just went on vod website and had a text conversation about no network coverage
at my work place ,, it was about as usefull as a choclete teapot.. so ive phone them now and there networks down,, ask for comp ,there service is terible..

[rogermauricesmith] 10/5/2012 09:16

djwr100

Vittorio Colao is not a normal CEO. He is a miser. I think he wanted to tell the market that Vodafone would not overpay. But you are right the problem with his strategy is a plan B. Every day that passes makes CW's assets in the ground and under the sea appear more valuable. Colao will have realised that he has to have those assets. I am fairly sure a special divi is how the problem will get solved.
Plus Colao has done so little M&A since he became CEO that his credibility is in danger. He has to pull at least one deal off. Chris Gent used to do a deal like this every day before breakfast.

[plastow] 10/5/2012 08:33

vod picks up another 11,900,000 of its own shares small change for them ??

[plastow] 10/5/2012 08:16

yes im thinking mybe a special one off divi payment >>

[thehairydagger] 10/5/2012 06:04

djwr, because they are trying to get Orbis to buckle under the pressure and get CW on the cheap, Vod will increase the offer somehow.

[djwr100] 09/5/2012 20:51

What was the point of making an offer with a limit that prohibited their progress with a deal that they wanted desperately? They surely have a plan B?

Was there any point in having this limit? Did it benefit them in some way?

[7kiwi] 09/5/2012 18:21

logan,

iirc the RNS that announced the takeover precluded both an increase in the offer and a further divi.

However, they may still decide to increase the offer in some way, but I don't think that is likely.

[broshm] 09/5/2012 18:19

Really is an uneven playing field , must be time to goaway in May .

[franklan] 09/5/2012 17:28

An interesting read re OTC trading

[djwr100] 09/5/2012 15:21

Do the authorities have to be notified of supposed irregularities, or do they find this stuff out for themselves?

Someone must have bought these large chunks of stock, and presumably don't think it will be 20p any time soon. Unless they are covering shorts.

[loganair] 09/5/2012 15:21

I think Vodafone may be able to let CWW pay a last dividend (a final of 3p) if the take-over goes through, this way Vodafone hasn't directly increased its 38p offer, however indirectly it has.

[rogermauricesmith] 09/5/2012 15:00

UBS and Deutsche Bank share trading

UBS (Vodafone's merchant bank) and Deutsche Bank (CW's broker) had a notably less active day on Tuesday (8th May) and guess what the share price went up.

But it is the activities of Deutsche Bank as a principal in the last fortnight (since the bid was announced) that is strange.

It has obviously been trading large amounts of shares in the dark pool (outside of the LSE) without reporting its activity. By a quirk of takeover rules it doesn't have to report activity daily if it doesn't deal though its own stockbroking division. Why doesn't it deal 'though its own stockbroker for its own trades? - no comment.

However it does have to report to CW when it goes over (or under) certain trigger points and CW has to report that via an RNS (official LSE announcement).

On Tuesday 24th April it shareholding went above 3% (we think) as CW reported it as 'going below' and 'going above' on its official form.

On Wednesday 2nd May it went above 4% as CW announced that Deutsche had bought 4.53% of its shares.

But by Friday 4th May it had gone below 3% again although the form was incorrectly filled in and it was impossible to see by how much. But to do that it must have sold around 50 million shares between Wednesday and Friday of last week.

Why is CW's broker involved in all this activity in the stock market? And why is it dumping huge amounts of stock on certain days at stupidly low prices?

It's no wonder the share price declined so much last Thursday and Friday with Deutsche selling so much stock.

What is going on?

[dickbush] 09/5/2012 14:35

7kiwi,

Of course the article was about the US. But it isn't irrelevant to the UK. The whole point of my putting it here was the last sentence.

"Humm (CEO T-Mobile) said average monthly data use on T-Mobile's network has risen more than five-fold over the past two years."

If you think something along the same lines (excuse the pun) isn't happening in the UK, then I beg to differ.

[thehairydagger] 09/5/2012 12:42

As i said before, share price up and PI's selling, not me, i've bought more.

[rogermauricesmith] 09/5/2012 11:21

7kiwi
Which article are you referring to?

[plastow] 09/5/2012 10:19

FROM THE III BOARD



From the VOD presentation on 23.4

"Scheme documents posted to shareholders – by 21 May 2012
Expected completion – Q3 2012"

From the RNS on 23.4.

"Once the necessary approvals from CWW Shareholders have been obtained and the other Conditions have been satisfied or (where applicable) waived, the Scheme must be approved by the Court. The Scheme will then become effective upon delivery of the Court Order(s) to the Registrar of Companies. Subject to satisfaction of the Conditions, the Scheme is expected to become effective in August 2012.

The Offer will lapse if:

· the Court Meeting and the General Meeting are not held by the 22nd day after the expected date of such meetings to be set out in the Scheme Document in due course (or such later date as may be agreed between Vodafone and CWW); or

· the Scheme does not become effective by 30 November 2012 (or such later date as may be agreed between Vodafone and CWW),

provided however that the deadlines for the timing of the Court Meeting, the General Meeting and the effectiveness of the Scheme as set out above may be waived by Vodafone."

So the next move is the CW shareholders receiving the Scheme Documents by 21.5.

[djwr100] 09/5/2012 09:43

"The carrier is seeking regulatory authority to buy $3.9 billion worth of spectrum from a group of cable companies. "

Can anyone explain how you buy radio frequency spectrum from a cable company?

Is that like going for shoes to a butchers?

[plastow] 09/5/2012 09:41

I say again VOD CAN NOT improve terms without another competitive bid.

i think we all no that BOIX

[badtime] 09/5/2012 09:30

boix..thought u were leaving people to it..judging from yur last post yesterday...couldnt resist?

[7kiwi] 09/5/2012 09:17

RMS,

That article was about mobile data capacity over the air. And in the US.

Not fixed line capacity in the UK.

[boix] 09/5/2012 09:12

The odds always were but it's far from certain.
Hence the discount in share price.
I say again VOD CAN NOT improve terms without another competitive bid.
Sorry but it's 38p or nothing.

[7kiwi] 09/5/2012 09:11

RMS,

CW. already provides the back-end infrastructure for Tesco's broadband service.

It has presence in a large number of unbundled exchanges; but it doesn't directly offer a consumer service. In fact it sold what it did have to (iirc) to ntl, which through various transforamtions became Virgin Media.

BT Openreach is already offering FTTC (Fibre to the cabinet) in a number of areas, giving 40Mbps services (or sometimes 80Mbps); and is piloting FTTP (Fibre to the premises) giving 100Mbps (and maybe upto 300Mbps). Other broadband providers are able to offer this service through the BT infrastructure, as Openreach is "forced" to offer these services wholesale to other providers through unbundled exchanges (including Sky, Talk Talk and even Virgin, where Virgin doesn't have cable in the ground).

As far as I know, Vodafone do not currently have a fixed line broadband offering; so moving to offer that in the consumer market would be a big change for it, in both marketing and technical terms. The CW. backbone may help; but they'd have to get into provisioning and billing systems in a big way to make it happen.

There's a whole series of articles on the development of broadband services here: