Over the past three years America Movil has issued a small regular dividend and purchased a relatively small amount of stock on a quarterly basis but it has saved its larger dividend issuance and share repurchase for the fourth quarter. We believe this policy could change in 2008. While the company could simply increase the…
Following the rejection of the Dolan offer earlier today, we believe CVC shares remain compelling and reiterate our BUY rating on the stock. We are lowering our estimates to what we deemed our “worse case” scenario in our 10/17 note: Why We Would Own CVC, Even if the Dolan Offer is about to be Rejected.…
Dow Jones is reporting that Anatel has levied 28 restrictions on the proposed sale of Olimpia to Telefonica but that it DOES NOT include a required divestiture as was previously reported. Estado had cited the Communications Minister Helio Costa as saying there would be a disposal of assets and Dow Jones cited Antonio Bedran, an…
Headlines are crossing now that indicate that Anatel has approved Telefonica’s purchase of Olimpia which owns 18% of Telecom Italia. However it appears that Anatel, the regulator in Brazil, might require a sale of some assets as a part of their approval. If the asset dispositions are significant enough, we believe the “approval” could ultimately…
AT&T Wireless reported strong subscriber growth and impressive margin improvement in Q3. Net subscriber additions of 2.0 million topped out estimate by 389,000 driven by the success of the iPhone. In fact sales were so strong that the company actually increased the price of its other handsets which helped to improve customer acquisition costs.
Earlier today at a Liberty Media (LCAPA/LINTA) special shareholder meeting, John Malone indicated that merging DirecTV (DTV) with Discovery Communications (DCI is 2/3 owned by DISCA) had merit, “very attractive” in his own words, particularly given the global nature of Discovery’s content. He also indicated DTV could be very valuable to DCI – “a lot…
According to Steve Mason (of FantasyMoguls.com), Bee Movie‘s early tracking data supports an opening weekend of $38-$44 mm (click here for the full tracking report), utilizing a comparison to Ratatouille‘s tracking two weeks before its opening (adjusting for fall vs. summer release date). However, its worth noting that the ad campaign for Bee Movie is…
While the pain inflicted on the cable industry for not carrying the Big Ten Network during college football season has been moderate (certainly not helping sub losses or the industry’s image vis-a-vis HDTV and Sports), we believe the pain is set to reach a whole new level as college basketball season tips off in November…
Anatel, the Brazilian telecom regulator, released wireless market share data for September. It previously reported better than expected industry growth of 1.8 million net subscriber additions versus our estimate of 1.2 million.
China Mobile reported strong Q3 results marked by very strong subscriber growth in the month of September. China Mobile beat our September and therefore our quarterly net subscriber addition estimate by 607,000 at 6.1 million which reflected a jump in its market share of industry net additions to 87% from recent levels of less than…
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