Talktalk Telecom Share Discussion Threads

[quepassa] 15/12/2020 09:31

Indeed. Interim results a full month late by now.

Ten year historic interim results release dates:-

15/11/19
21/11/18
15/11/17
15/11/16
11/11/15
11/11/14
12/11/13
13/11/12
15/11/11
16/11/10

Not just results but an interim dividend has been declared in each and every of the last ten year during the month of November.

But not this year.



ALL IMO. DYOR.
QP

[sporazene2] 15/12/2020 09:04

this stinks of a stitch up. why no interims results?

[quepassa] 14/12/2020 07:38

According to an article in The Times on Friday 11th. December.


Just days before the low-ball 97p bid, Deutsche Bank analysts issued a broker note RE-ITERATING their PRICE TARGET of 175p which is a price 80% higher than Tosca's derisory, backwards-looking, opportunistic low-ball offer.

Moreover, The Times notes that Deutsche Bank is one the banks advising TalkTalk on the contentious take-over.

If Deutsche Bank re-iterated a target price of 175p for TalkTalk in October, it remains absolutely clear in my view that the 97p offer is totally unacceptable.

The Board of Directors of TalkTalk have a lot of explaining to do as to why they are countenancing a 97p offer when one of their advisers, Deutsche Bank, have recently given TalkTalk a share price target of 175p.

ALL IMO. DYOR.
QP

[1224saj] 09/12/2020 15:59

QP, apart from ADVFN, what are you're other platforms where you post the same narrative. Nobody is listening to you, they are seeking a collective voice who will listen to the private shareholders. Dunstone and the board are not stupid, they know their actions could be challenged, but don't seem to care. Which would suggest they have taken legal advise to protect themselves

[quepassa] 09/12/2020 14:03

Since the October share-price lows for the sector,

BT has further surged and now overall risen by 40%

Vodafone has risen by 35%.


It is reasonable to assume that the TalkTalk share price would have also by risen similarly due to similar market forces.

On this basis, the current 97p bid IS LOWER than the share price would now be if it had just floated up with the current rising market.

There is NO PREMIUM any more to the bid. The 97p bid is now UNDER WATER relative to today's market.

The Board of Directors need to explain to shareholders why they continue to countenance a bid which significantly undervalues TalkTalk.

ALL IMO. DYOR.
QP

[1224saj] 08/12/2020 09:03

QP, you seem to quote wisely, so I will ask you this in the hope of a reply. Have the PI's got a voice/ say in this carve up?

[quepassa] 07/12/2020 21:52

Another astonishing new record for streaming figures from TalkTalk, according to an article on ISPreview.

Yesterday, Sunday 6th December , Talktalk broke their own recent November record of streaming 6.94 Terabits per second and set a new record of 7.23 Tbps.

The demand for TalkTalk's streaming product is clearly rocketing.

It is important to grasp that demand for TalkTalk is such that they are now streaming approaching 40% of the figures for mighty national incumbent BT whose peak streaming is 18tbps.

And yet, the market cap of Talktalk is just circa £1bn compared to BT's market cap of £13billion.


Based on recent growth in streaming demand and comparisons to BT, the recent offer of 97p is derisory, opportunistic and does not reflect fair value for TalkTalk nor for the growing demand for their product.

It beggars belief that the low-ball 97p offer is still under consideration by The Board of TalkTalk.

ALL IMO. DYOR.
QP

[1224saj] 07/12/2020 09:33

I think the NED should step up to plate and work for a better deal for the PI's. Their role is to assure good governance, not this old boys carve up. Dunstone even had the front to put his name to a letter to the Chancellor begging not to increase CGT. Interesting article in the Sunday Times yesterday [e-mail].U.K.

[quepassa] 04/12/2020 16:44

It cannot not have escaped The Board's attention that in just the last couple of months that:-

1. BT has surged by a massive 40%, and

2. Vodafone has surged by an astonishing 30%.


A low-ball 97p bid is outdated, backwards-looking and neither comes close to representing fair value either for TalkTalk nor takes into account the significant recent re-rating of stocks in the UK telecoms sector.

The Board would in my view be in a position of running significant risk of personal Reputational Loss were they now to back and recommend a 97p offer to shareholders.

It takes a lifetime to create a good reputation but just a moment to lose it.



ALL IMO. DYOR.
QP

[1224saj] 04/12/2020 15:53

QP, any views on my question

[quepassa] 04/12/2020 15:09

It cannot not have escaped The Board's attention that in just the last couple of months that:-

1. BT has surged by a massive 40%, and

2. Vodafone has surged by an astonishing 30%.


A low-ball 97p bid is outdated, backwards-looking and neither comes close to representing fair value either for TalkTalk nor takes into account the significant recent re-rating of stocks in the UK telecoms sector.

The Board would in my view be in a position of running significant risk of personal Reputational Loss were they now to back and recommend a 97p offer to shareholders.

It takes a lifetime to create a good reputation but just a moment to lose it.



ALL IMO. DYOR.
QP

[1224saj] 04/12/2020 13:28

Paulo, who could the PI's go to if this ends up as a carve up for the major shareholders and the BOD. Dunstone must be aware that the majority of long time PI's are underwater at 97p, like most of the BOD?

[1224saj] 04/12/2020 13:24

QP, what would you do if it's option 1A single voice in a large room is unhelpful, a collective voice speaks volumes. Who would have a ear to listen to the PI's

[quepassa] 04/12/2020 08:41

For me, the relevance of yesterday's Extension was its shortness of just two weeks. Why pick two weeks when they could have chosen another month?

Things are now quickly being forced to a head.

For the second time, TalkTalk have again re-iterated that "Commercial discussions and due diligence are progressing". -This seems to me to be a clear signal that both parties have a clear desire to do a deal.


So is it?


1. Do the dirty and shaft shareholders by taking TalkTalk private on the cheap at a low-ball 97p price, to be announced just before Christmas in the hope that any investor furore and backlash will be forgotten by the New Year (it won't),

or

2. You've got a final two weeks to come up with the secured funding from your investors, backers, financiers (not necessarily a straightforward task) to fund an increased bid.


I know what I think.


The end-game is nigh.


One thing is for sure, would I personally take equity in lieu of cash in a privately held unquoted company run by a NewCo majority controlled by Tosca - NOT A SNOWBALL'S CHANCE IN HELL.


ALL IMO. DYOR.
QP

[paulo435] 04/12/2020 08:30

Will need to keep an eye on that one. Meanwhile I see the share price this morning has returned to the days of exceeding the offer price like it did when the offer was originally announced. Something brewing perhaps.

[sporazene2] 03/12/2020 19:44

Unless I missed it, the interims seem a bit late this year. would imagine if they wanted get something out there thats positive to defend/drive the price up this would be a great opportunity. Like others, I am sceptical of a stitch up and the longer we wait for the interims release the more sceptical I am.

[paulo435] 03/12/2020 19:29

Add something meaningful

[astorcourt] 03/12/2020 18:37

Talk talk need to pay it's bills to BT. Why this 2 bit outfit wait for final demand? Cowboys.

[paulo435] 03/12/2020 18:21

If I was a betting man I would say it’s going to proceed with an offer formalised and on the table on the 17th. The board have welcomed and encouraged it and tosca would already have walked away if they were going to, considering they are still continuing discussions and due diligence now - all after them having had a previous 135p rejected. It tells you everything. My impression was that they were hoping to lure others in to compete but so far there’s no sign of that. My opinion (only my opinion) based on all of this is that it’s proceeding. The board will argue that across Europe telecoms stocks have become out of flavour etc and seen a decline in appeal - against all logic given where we are with lockdowns, home communications etc being more important than ever etc etc. I’ve bought into Airtel Africa and up 50% since doing so - but talk talk is being held back.

[1224saj] 03/12/2020 12:04

Thanks for the correction. 1.35, so for a mkt adjustment of say 25%, an offer of 1.70 would be about right? This deal is not going to happen. Dunstone would not want the bad publicity, he's not a Phillip Green, I hope?

[paulo435] 03/12/2020 09:24

Agree jmid, the AA deadlines are farcical also - extension after extension and it went on for 4 months. However, this one is only until the 17th December and seems very specific - AA final one was actually for a single day longer. When it’s as specific as that it does ‘usually’; (famous last words) indicate that’s it.

[jmid1000] 03/12/2020 08:13

What is the point of having a deadline anyway, when you can just keep renewing it, it isn't really a deadline

[shaker44] 03/12/2020 07:46

Whatever, this whole deal smells like a stitch up enabling Dunstone to take it private on the cheap eventually then refloat in a few years at a massive profit.

[paulo435] 03/12/2020 07:05

RNS out - extension until 17th Dec. (1224 it was also an offer of 135 not 155)