anyone following the uk mobile operators? would appreciate feedback on orngy as a possible takeover play... hardly an original idea... (see article) but is it worth looking at?
thestreet.com
highlights... (my ideas based on article info plus some math...)
orngy, uk's 3rd largest mobile operator, currently 69... 52 week range 33 to 85... loss last yr, but 82% less than prev. yr's. loss... valued at $5360/subscriber... 7 * 98 sales... comparing orngy to one2one and vod levels, could be worth anywhere from $93 to $134 per share in a takeover
dt said to be bidding 16 billion for one2one, uk's 4th largest mobile operator... owned by cwp and umg... if deal was done, would be $7240/subscriber, 13.5 *98 sales... and if you read the street article, the co. has some problems... esp. with average revenues per user due to prepaid customers, and recent rate cuts...
vod, merging with airtouch, has valuation of $9826/subscriber, and 13.6 * 98 sales... got my orngy value range by comparing per subscriber and times sales multiples with vod and one2one...
other cos. said to be interested in uk mobile acquisitions, other than deutsche telecom, are mannesman, france telecom, vivendi, and msft... so there are buyers out there in a rapidly consolidating market...
any thoughts??
kathy :)
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