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Online Share Trading

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MTN Deal off

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GL
Contributor
News a bit old, but for those that didn't know, now you know.
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11 REPLIES 11
Not applicable
More interestingly, they've suspended trade! Question: Is it possible for warrants to still trade on a share that isn't?
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Not applicable
Nope, warrant linked to underlying share so no share trade no warrant trade. Share should resume in the morning or Friday at latest. Just a cautionary move to prevent panic selling. OMO and will wait for announcement in the morning.
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Preston
Super Contributor
I believe that the Bharti deals did not add value to shareholders of MTN. There will be a degree of panic selling. My prediction is that it will go as low as R110 over the next few day then stabilise and then continue its upward movement. Also got to factor in the movement in the DOW level when the news of negotiation was first issued and the current DOW level. My assumption is that stabilising point is R118.
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Theater_Cat
Super Contributor
It is pathetic that the news was in the market via Bharti hours before MTN issued a SENS!!!!
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Preston
Super Contributor
I seriously believe that MTN needs to be fined.
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Sfiso_1
Occasional Contributor
According to SENS trading will resume tommorrow.
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kwagga
Super Contributor
Don't count on the MTN price dropping too much. The share has been kept in check for a very long time due to this pending deal and I think institutions will be queuing to buy this share at any sign of weakness.
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Levitt
Regular Contributor
And yet MTN rises 3.5%. haha. It seems termination of the R24Billion deal is a positive thing...
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kwagga
Super Contributor
Yes it is a positive thing. Remember they negotiated with Indians - discount, discount, and discount. Shareholders were in no way impressed with any offer put on the table by Bharti. While all this happened the share price was very static and tended to go a little down rather than up. So all and all, I guess shareholders are relieved that this complex merger didn't take place and management can now focus on core business again with no more distractions.
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Not applicable
Was listening to business news this morn and the presenter said some invetors where actually relieved that the deal didn't go through! (o")
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Not applicable
Well I am also glad the deal did not proceed.I think there is more potential for them to grow organically and it might take a little longer but then the company has better control and profit margins etc. With that said I admit I had a risky/speculative/gut-feeling short on that share for a day or so and yesterday just before it got suspended I bailed out with a good bit of moola. Now I am in the longs an smiling again....
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