Remind me to promise you overnight riches on the 23rd.
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Anyone know how much of the call centre they let go? Wait times have become a joke that it's not worthwhile to even bother calling. They used to be quite good, so I'm assuming this has resulted in some decent $$$ savings.
Must say I was quite surprised too when I see the closing SP this morning. I only checked once yesterday and it was $2.59 at the time. Maybe this is all part of the global trend where the market is over reacting to Ukrain. However, I personally don't quite get why high oil prices should have any significant impact on SKT. :confused:
https://www.nbr.co.nz/story/vodafone...le-preparation
Our mate at Vodafone has given the Orcon/2D merger his blessing.
Paris also described the telco market as “competitive but sensible”, saying he welcomed the merger of Two Degrees and Vocus/Orcon.
“We expect the merger to ensure competitive intensity is there but we don’t expect too many changes in our own strategy,” he said.
Someone that used to work at the commerce commission told me that the commission used to be in bed with spark and they had a revolving door where people that worked at the commission ended getting jobs and moving to spark. The commission was easy on Spark whereas he said that there were a lot of enquiries done on Vodafone by the commission. That bias towards Vodafone and preferential treatment towards spark was what probably caused the failed voda/sky merger.
That is terrible if that is true.
Even still, that voda/sky merger almost got through...
Sky TV is already classified as a telco now anyway. I can't see the comcom having grounds to block Sky from expanding its telco capacity by M&A a second time around.
And how the hell does Vista - a business that ultimately relies on cinema viewing - have a market cap ~$45M higher that Sky TV?
Even before Covid they were only earning about $12M a year!
https://www.vistagroup.co.nz/downloa...2019-NZX-R.pdf
Been running at a loss the last two years!
You would think that profitable and cashflow positive Sky TV (which also produces more than 6 times the revenue Vista was able to even pre-Covid) would have a quoted value much higher than Vista - especially in the current environment when a lot of people still don't want to sit inside a confined room with strangers.
Put an order in for 5k at 243, only filled for 952. I have a feeling it will not get there again, on the run up to next week. Steady increases from here is my guess. $3 here we come.
We do have to be careful making cross-sector comparisons...
But in this case, one company has significantly higher Earing Power than the other yet is 'worth' a lot less so far as the capital markets are concerned.
If you subscribe to the belief that any business (regardless of what industry it is in) is worth the discounted value of all future cashflows...then you are left scratching your head when you see examples like this.
Especially in this case where cinema's have been nailed due to the pandemic while companies like Sky have seen significant subscription growth as people don't want to go to the cinema as much and are unable to go see live sport events and prefer to watch from home.