Post by
ascii2 on Dec 24, 2014 10:45am
buying Glentel shares
Though shareholders of record date 11th December 2014 will get to vote and decide about Glentel's enevitable sale to BCE and GLN board of directors now can't touch their pledged 39% shares, IMHO as a supplier Rogers can only delay the process by going to the court and asking for an injunction. It is still in the best interest of Rogers, BCE and rest of Glentel share holders to pick up these shares knowing
1. These are worth $26.50 better than existing options in market on percentage return on investment.
2. Other companies can make a better offer prior to 11th January 2015
3. BCE will have to pay for less shares and purchase price will be less for remaining shares. It will also help BCE if other company willing to make a better offer try to grab as many floating shares available from market.
I am assuming couple of things here. 1. Rogers claim has no merit or locus standii since its agreement with Glentel remains in full force. Rogers can pull out or terminate its agreement is the only option
2. Competition bereu will clear the deal since Glentel will continue to function the way it is now.
GLTA.