VTL - Vital Telecommunications (formerly Team Talk)

[h2so4]

The plot thickens

No commitment from Spark. probably just wanted to put it out there.
Who knows what will happen.

I note the TTK directors do not hold many shares 60k between them.

[h2so4]

Its also possible that the offer is deemed not sufficient and Spark has to raise the offer...how often do you see that happen? Yes occasionally. And if you were looking to buy something in a negotiated environment (not a liquidation) you would be usually coming in with a low offer first and then negotiate upwards depending on situation. Conceivable that TTK will come back with "we do not feel this is a fair offer and we see fair value at (0.90 or whatever) So early days yet. Couta has a plan and its not as crazy as some posters seem to think. Risky maybe but he will evaluate risks accordingly.

I'm sure he will. He was only buying in once the deal was done

[bung5]

Lads, Im out at 75 lads for a small profit. Can't trust the board to not screw this up.

Good luck

[Bobdn]

I'll hang out for 80 cents or more which would mean a small loss of $1750 (not counting opportunity cost).

I'm guessing Spark would love to get their hands on something like CityLink to build up their fibre clients, without having to pay anything to Chorus.

[waikare]

Chair Roger Sowry is telling us not to sell, well not yet anyway. Below is the end of TTK's media release.

The TeamTalk board advises shareholders do not sell their shares or enter into a commitment to accept any proposed offer from Spark New Zealand Trading Limited (Spark), pending further
communication from the TeamTalk board.
In addition to Cameron Partners, TeamTalk has appointed Crengle Shreves & Ratner as its legal adviser to assist the TeamTalk board in evaluating and responding to any Spark offer
and any other proposals that may be forthcoming.

[Baa_Baa]

Chair Roger Sowry is telling us not to sell, well not yet anyway. Below is the end of TTK's media release.

The TeamTalk board advises shareholders do not sell their shares or enter into a commitment to accept any proposed offer from Spark New Zealand Trading Limited (Spark), pending further
communication from the TeamTalk board.
In addition to Cameron Partners, TeamTalk has appointed Crengle Shreves & Ratner as its legal adviser to assist the TeamTalk board in evaluating and responding to any Spark offer
and any other proposals that may be forthcoming.

Money for jam, those Cameron Partners, and Crengle Shreves & Ratner. Wonder if they will have the guts to say 'you didn't need us to tell you that you're incompetent and if you replaced yourselves with a decent Board, they'd see that the Spark offer is ridiculous, albeit you seem inept at realising or recovering shareholder value and encouraged by being shown an exit door, by selling out on your shareholders one way or the other'. Disgraceful, another NZ tech sacrificed at the alter of incompetence, Director looking to get themselves off the hook, and shareholders being sold down the toilet at the behest of a corporate raider.

[bung5]

^ my thoughts

[BIRMANBOY]

Let the games begin....how badly does SPK want TTK and what's their "best" offer? Buying in at 74 current price and then having the offer upped from 80 would be a nice little profit for a trader with some cast iron cojones. What are you men/women or mice? I thought this was a sharetraders forum LOL

[bung5]

Re due dilegence
"We are in the early stages of a process that could take some time depending on how things play out."

[tim23]

Are we going to see a TWR situation but who could be next bidder? Management buy ou possible?