Looks like it touched 195c at some point yesterday :t_up:
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NZME merger could make sense if the strategy is to expand their reach as a straight media play with wholesale broadband deals (rather than become a telco, which they clearly have no appetite for).
NZME pumps out generous cash flows too…
I personally still think telco would realise much more value long term, but NZME is not a completely bonkers idea either.
I don’t think we can infer from Osmium’s investment in sky that there is any grand merger plan here though.
Buybacks and divvy’s the most likely way forward imo.
We had the first monthly uptrend in over 6 years confirm earlier this year, however it had no follow through. We have now had this monthly uptrend re-confirm on increasing bull volume. Monthly uptrend confirmations after very prolonged downtrends are in my view one of the most significant technical setups around. They signify the end of a long downtrend and are almost always accompanied by a large sentiment shift (meaning the market goes from undervaluing a stock to overvaluing it). Large and rapid moves are regularly observed. It does however carry significant risk of failure given the significant downtrends in place, so one must balance downside risk vs upside potential. The type of trades where you're looking to making half your yearly profit target on or loose a decent chunk...
19.2 resistance broke yesterday. Psychological resistance will likely be seen at 20c. After that there would be 30% upside to the next resistance at 26c.
In my opinion if a takeover is actually seriously on the cards then we will see it happen imminently. Time is of the essence to ensure the price doesn't start running away to the upside. Note: I am not suggesting we will see a takeover happen soon.
Disc: very large position (long term + trading)
A fund manager creeps over 5% after buying from at least last April and speculation abounds
At least all this speculation will keep you guys amused / occupied for a few months …maybe even until Christmas
Just a cool 7mil shares offmarket trade at 10:36am
From the colliers AD
"“However, the location also offers exciting potential to explore alternative uses. Astute developers will consider the property’s possibilities for future mixed-use activities. Subject to rezoning, these could include residential projects or other alternatives such as retirement or education facilities."
Could be unrelated, but OCA on the 23/08 announced they were considering a secured bond offer.........
SKY TV : "Colliers New Zealand will now complete a targeted Expression of Interest
Campaign with potential purchasers which will close at 4pm on Monday 23
August 2021"
Then on the 30th OCA announced a $100m bond issue
The proposed bond issue will:
- Help facilitate further growth, including the current pipeline and potential acquisition of new development sits (brownfield and/or greenfield)
Coincidence?
The NZD30m valuation for the properties appears alot higher than the book value of NZD13M contained in the recent FY reports.
I would be really shocked if it was not converted into a retirement village. Prime real estate for it. Huge site.
And having sky stick around for a little while producing rent for them is an added bonus while they cement their plans.
Not saying OCA are def buying the property - but it is not loony tunes to think they could be either.