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Strategies & Market Trends : Bosco & Crossy's stock picks,talk area

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To: big guy who wrote (37096)	4/11/2012 7:58:03 AM
From: KyrosL	Read Replies (3) of 37387

Premarket bid - ask is 13.45 - 14.00 Here are descriptions of various aspects of the transaction: Reuters: " Private equity firm CVC Capital Partners will pay around HK$5 billion ($644 million) to buy telecom and broadband assets of City Telecom H.K. Limited ( CTEL:$13.34,00$0.48,003.73%**) , the Hong Kong-listed company said on Wednesday, in Asia's largest private equity-backed deal this year." My comments from skimming the release: they sold the telecom part of the company for $16.7 per share but that does not include the debt, which is not substantial. They will use part of the proceeds to transform the company to a multimedia production and content distribution company. They will distribute part of the proceeds as a special dividend worth $6.4 per share.

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