SKT Sky Network Television Limited.

[Quantitative Easing]

It would be great if NBCUniversal (Comcast) entered the bidding. However, I feel like Infratil would have this all sewn up quickly (if they are smart).

It's likely Infratil are already sitting on a 4.9% stake of Sky via UBS's involvement in the the recent placement.

After they announce a take over offer, at say 22, the stock will jump and heavy trading will commence. Infratil will then be able to accumulate on market the remaining 5.1%, thus taking them up to over 10% and blocking a take over from a competitor or at the very least, making it difficult.

As much as I want Comcast to enter a bidding war, they are just too slow and incompetent and likely see NZ as a small and insignificant market. It's more likely Infratil will buy Sky, and then Comcast will buy Sky off Infratil.

What ever happens, I'm not selling my shares until I'm forced to.

Offering 22 cents/share for sky is like offering 900k for a four bedroom house in the grammar zone. Who would say yes to that...

[Ogg]

Offering 22 cents/share for sky

That's just an opening offer. ~20% premium from today's closing price. Pretty standard.

Enough for inexperienced retail holders to start selling.

[mistaTea]

Offering 22 cents/share for sky is like offering 900k for a four bedroom house in the grammar zone. Who would say yes to that...

I love that analogy! Haha!

So true.

[mistaTea]

That's just an opening offer. ~20% premium from today's closing price. Pretty standard.

Enough for inexperienced retail holders to start selling.

If IFT were smart they would buy on market up to 19.99%. The threshold before a hostile takeover is triggered. And then launch a formal takeover from there.

Vero did that a few years back with Tower Insurance. After they hit 19.99% they launched a takeover bid of $1.30 per share (later raised to $1.40)
Ultimately the comcom blocked Vero from buying tower however it was effective in blocking Canadian conglomerate Fairfax from buying the company. The last thing vero wanted was a deep pocketed overseas company entering the NZ insurance market.

[Ogg]

If IFT were smart they would buy on market up to 19.99%. The threshold before a hostile takeover is triggered. And then launch a formal takeover from there.

Vero did that a few years back with Tower Insurance. After they hit 19.99% they launched a takeover bid of $1.30 per share (later raised to $1.40)
Ultimately the comcom blocked Vero from buying tower however it was effective in blocking Canadian conglomerate Fairfax from buying the company. The last thing vero wanted was a deep pocketed overseas company entering the NZ insurance market.

That's possible. So no trading halt tomorrow but a substantial holder notice in the coming days.

What ever happens, you'd be mad to sell now.

Unless of course the comcom blocks again and the whole thing is kaput, lol.

[mistaTea]

That's possible. So no trading halt tomorrow but a substantial holder notice in the coming days.

What ever happens, you'd be mad to sell now.

Unless of course the comcom blocks again and the whole thing is kaput, lol.

Of course, as soon as they had to declare they were buying up large it would push the SP up massively as the market realised a takeover was brewing.

So any notion of a takeover offer @22c would be out of the question.

[Ogg]

Of course, as soon as they had to declare they were buying up large it would push the SP up massively as the market realised a takeover was brewing.

That's why buying 19.9% would be dumb without comcom clearance first.

Getting to 10% would be ideal to block a take over.

If Comcast does enter, then Infratil could just offer to sell Vodafone to Comcast.

[rooster]

Now that Spark does sport streaming, could Comcom block IFT taking over SKT? Hypothetically speaking.

[Ogg]

Now that Spark does sport streaming, could Comcom block IFT taking over SKT? Hypothetically speaking.

No. That's the point. Sky is entering the broadband market regardless.

From what I can see, there should be no issue with comcom.

[Ogg]

So last September Brookfield buys 61.2% of Oaktree Capital

https://ir.oaktreecapital.com/news-releases/news-release-details/brookfield-asset-management-completes-acquisition-612-oaktree

Oaktree Capital is a major owner of Mediaworks.

Brookfield owns 51% of Vodafone.

Infratil owns 49% of Vodafone and is now doing a $300m placement for potential acquisitions.

Sky does a heavily discounted share placement.

mmm. No, all these events can't be related. I must be crazy!