I echo your opinion; as far as I know, George Soros still owns all of his shares. I think the reason the price moved up so fast was due to an awareness of the value represented by Primus' ownership of their network, rather than leasing the use of someone else's, as is usually the case.
Regarding your question to Mr. Strickoff, I think now is a good time to buy. Primus just announced record revenues and margins, they had no trouble selling $150,000,000 in notes to institutional investors, and if valued at the same multiple as the average of everyone else in their peer group Primus would be at $55/share. All this means that Primus' business is progressing at record pace and its stock is grossly undervalued.
The other thing that I find very compelling, is the progress and rate of telecommunications deregulation around the world. This is attractive for the entire industry, but especially attractive for the domestic telecommunications giants who have spent the last 2 years solidifying their own positions after deregulation took place in the U.S. It is logical to assume that as these giants continue to solidify their positions in the U.S. and as deregulation continues around the world, these giants (along with other international giants) will look to expand into the international market. It is also logical to assume that when this happens the giants will go shopping rather than start from scratch. With arguably the largest network in place of its peer group, Primus will represent an attractive target and will command a price that truly reflects its value. |
