Inmarsat Share Discussion Threads

[jontyone] 28/2/2019 15:17

Wow! This just took off. No news as yet....

[zcaprd7] 26/2/2019 12:54

Market won't be impressed by a bid from them now, will they? And a share offer just got more expensive, they're skint as well aren't they, too much debt?

[jontyone] 21/2/2019 19:17

Echostar results out today, currently down over 10%.

[argylerich] 20/2/2019 14:06

Chatter on FT Aplhaville about ISAT:

11:46 am
Inmarsat PLC (ISAT:LSE): Last: 395.80, up 7.4 (+1.91%), High: 396.20, Low: 389.60, Volume: 380.77k

BE - I'm guessing the request is on the back of the Jefferies note from a day or two ago that talks about Ligado optionality.

BE - Ligado being Lightsquared as was. Bonds have rallied rather sharply over the past fortnight, suggesting people in Washington might have an inkling that news is on the way regarding its interference problems.

11:48 am
BE - We're waiting for a letter from NTIA Director David Redl on whether the network's going to be nixed or not.

BE - And here's where Jefferies goes 7 dimensional chess ....

"We suspect an investor(s) has been advised by a retained lawyer that the Redl letter could be imminent, and in an act of regulatory pragmatism over principle, that letter will recommend the FCC accept the Ligado proposal. In this seemingly interminable endgame, we might finally reach a decisive conclusion. A pro-Ligado stance would be very positive for Inmarsat, but there is a bigger game afoot now."

11:50 am

"We feel more certain now of EchoStar's vision that the MSS spectrum bands are "strategic" to future integrated cellular / terrestrial IoT networks. We therefore think its interest in Inmarsat remains - and in the short period of time since it walked away, its negotiating leverage with the Inmarsat Board has improved dramatically: Inmarsat's shares have drifted down on the back of a fresh short thesis around Maritime consensus downgrades. In the event of a Redl letter, Inmarsat may want to keep taking the Ligado cash, but it may feel coerced into taking Ligado equity."

BE - For more on the angling between EchoStar/Dish and the rest of the networks to block each other, see every other session last year .

[specul82] 18/2/2019 11:13

Takeover coming now

[extrader] 15/2/2019 11:28

Hi hairballradical,

I think what zcaprd7 has in mind is the zealous protection of 'national assets' eg when the French refused to allow a foreign co to buy that "essential industry", Danone....

ATB

[hairballradical] 15/2/2019 11:15

Jingoism .... Extreme patriotism, especially in the form of aggressive or warlike foreign policy.

Really?

[zcaprd7] 14/2/2019 12:16

That sort of jingoism might prevent a trade sale though...

[hairballradical] 14/2/2019 10:31

Post-brexit Britain will likely look to national champions. This is one potential so a reasonable bet whichever way Brexit goes.

[the original goldbug] 09/2/2019 11:56

The managament are terrible and the dividend policy essentially destroyed the equity opyionality. Paying dividends while gearing up the BS was madness.

The problem was the bid was too low to save face. So here we are back where we started with arguably deteriorating fundamentals on the horizon.

This will become a business school case study of how not to do things in the future.

[argylerich] 09/2/2019 11:25

Can't say I disagree with either of those points dexdringle :-)

[dexdringle] 09/2/2019 10:09

...I think what jbfnfn might be alluding to is that, if the board think the company is worth much more than £5.32 a share, then what the hell are they doing about making that a reality.

As things stand, their comments re the true value of the business are looking like pure fantasy. Almost as though they made it up in order to be able to keep their cushy exec jobs....

[argylerich] 09/2/2019 09:34

Probably the same reason as May 2018 when it was only 350ish, the market will simply go by current forecasts to set its value, no bid factor included in the price as there isn't one.

[jbfnfn] 08/2/2019 16:33

Simple question.

Back in July 2018 EchoStar were willing to cough up 532p for Inmarsat, admittedly not all in cash. The board said the proposal "very significantly undervalued Inmarsat and its standalone prospects".

How come ISAT is only worth 371p today?

[argylerich] 04/2/2019 10:04

Spectrum was definitely the key for RBC being so bullish around the time of the Echostar bid.

[zcaprd7] 04/2/2019 09:56

Just hiring the people would be difficult, he's already running into difficulties finding talent.... I still think spectrum rights are the ultimate moat.

[argylerich] 04/2/2019 09:48

I think the micro-satellite industry is a lot quicker to build these days but the increase in capacity that's needed definitely would call for a new 'giga-factory' with all the associated design/build/realities.....oh, and the cash...

[zcaprd7] 04/2/2019 09:14

I'd guess he'd have to design and build a factory to mass produce the satellites (never been done), otherwise each one will take circa 3 years to build...

[argylerich] 04/2/2019 09:08

How much will it actually cost Musk (his investors) to achieve everything he's aiming for and given the example of Tesla, how long is it really going to take?

[zcaprd7] 04/2/2019 08:57

Why's that then? It would save him a lot of trouble and time just to buy inmarsat...

[badger60] 04/2/2019 08:05

Yep... It makes ISAT's 1.7 BN mkt cap look a tad expensive......plus all the debt that it's got hanging around its neck......

[argylerich] 28/1/2019 07:52

The march of Musk.....




probably a better article out there somewhere

[zcaprd7] 27/1/2019 20:03

No, sold at a loss, sold my whole portfolio a while back

[badger60] 27/1/2019 11:03

....averaging down then......