Microcell says no!

Archived from groups: alt.cellular.fido (More info?)

I just received a press release from Microcell. The board of directors
recommends that shareholders reject the Telus offer.

Stephan Patterson
7 answers Last reply
More about microcell
  1. Archived from groups: alt.cellular.fido (More info?)

    In article <i98qa0pcj3basd2atl05ui64b96443k408@4ax.com>,
    Stephan Patterson <stephan.patterson@videotron.ca> wrote:

    > I just received a press release from Microcell. The board of directors
    > recommends that shareholders reject the Telus offer.

    /me starts breathing again

    --
    Steven Fisher; sdfisher@spamcop.net
    "Morituri Nolumus Mori."
  2. Archived from groups: alt.cellular.fido (More info?)

    Wow, there's a surprise...

    "Stephan Patterson" <stephan.patterson@videotron.ca> wrote in message
    news:i98qa0pcj3basd2atl05ui64b96443k408@4ax.com...
    > I just received a press release from Microcell. The board of directors
    > recommends that shareholders reject the Telus offer.
    >
    > Stephan Patterson
  3. Archived from groups: alt.cellular.fido (More info?)

    "Steven Fisher" <sdfisher@spamcop.net> wrote in message
    news:sdfisher-6602F3.14445320052004@news.va.shawcable.net...
    > In article <i98qa0pcj3basd2atl05ui64b96443k408@4ax.com>,
    > Stephan Patterson <stephan.patterson@videotron.ca> wrote:
    >
    > > I just received a press release from Microcell. The board of directors
    > > recommends that shareholders reject the Telus offer.
    >
    > /me starts breathing again

    You REALLY thought the board would GO for it???
  4. Archived from groups: alt.cellular.fido (More info?)

    Stephan Patterson wrote:
    >
    > I just received a press release from Microcell. The board of directors
    > recommends that shareholders reject the Telus offer.

    I'd have to look at who the board is made up versus who owns the shares. If
    the board represents majority shareholders (eg: the banks), and all board
    members voted to reject Telus' offer, then perhaps this has true meaning. But
    if the bank board members abstained or voted to accept Telus' offer, then the
    banks might still tender in their shares.

    The vast majority of shareholders (in numbers) represent squat (less than 1%)
    of voting power and total share value. The few investors/banks who rescued
    Microcell from bankrupcy are the ones who own the lion's share of equity.

    Also, it isn't uncommon for a board to reject an initial offer and then force
    Telus to raise its bid and sweeten the deal. It doesn't mean that the board
    will always reject Telus' bid.

    What scares me is that during the bankrupcy restructuring, the banks did
    indicate that their long term goal was to sell their shares in Microcell to
    get their cash back. The banks might be very tempted to get out of microcell
    at the very first opportunity, as long as the amount of cash they are getting
    would represent a return on investment.
  5. Archived from groups: alt.cellular.fido (More info?)

    In article <s250o1-vtj.ln1@host.domain>,
    "repatch" <repatch42@yahoo.com> wrote:

    > You REALLY thought the board would GO for it???

    This week it is as if someone has set my AttractEvil bit, so it wouldn't
    have surprised me at all.

    --
    Steven Fisher; sdfisher@spamcop.net
    "Morituri Nolumus Mori."
  6. Archived from groups: alt.cellular.fido (More info?)

    Steven Fisher wrote:
    > > You REALLY thought the board would GO for it???
    >
    > This week it is as if someone has set my AttractEvil bit, so it wouldn't
    > have surprised me at all.

    Reading the articles about this, it was very clear to me that the Mcell board
    wanted either a higher bid from Telus and/or another bidder. It seemed quite
    clear that it is now inevitable that Mcell will change hands again. (it did
    during bankrupcy when creditors became owners).

    So the fight should really be to prevent any of the 3 established mobile
    carriers in canada to get a hold of microcell in order to preserve the 3
    distinct networks in canada (rogers, microcell, and the cdma landline telcos).

    Well, I am not sure it is "3" carriers. Mobility is sold by Bell, MTS, Aliant
    etc. Not sure how they are structured between each other for the sharing of
    the mobility network.
  7. Archived from groups: alt.cellular.fido (More info?)

    "Stephan Patterson" <stephan.patterson@videotron.ca> wrote in message
    news:i98qa0pcj3basd2atl05ui64b96443k408@4ax.com...
    > I just received a press release from Microcell. The board of directors
    > recommends that shareholders reject the Telus offer.
    >
    > Stephan Patterson

    Yeah, but I heard that Gordon Gecko is now buying up huge amounts of shares
    in the company.


    A life without humor is not a life at all.
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