Sunday, January 14, 2007 5:09:04 AM
my plain scenario:
More than 1/2 year tremendous downtrend without any real efforts to reactivate stock price. Why?
If they want buy back the free float, due to their announced investment program-1.Q 2007, they can do it for peanuts & easy profits:
-assume that they offer buyback of 0.50 $/sh, consider that 90 % of shareholder sell at this point, costs them around 45mln $.
-the remaining 10 % (longs) will be rewarded by a cash dividend (0,10 $/sh), to recreate patience, costs them just 1mln $.
-lets place them the repurchased free float in London by themselves for 0,80-,90 $ per share, results in about 76 mln $.
all in all they earn 30mln $ profit of this transaction.
moreover, it is easier to control an IPO if they can use their own shares + the repurchased 90mln shares is sort of a start-packet for London placing; their restricted merger shares come only free in may/june07 or later and they can seperate them free just step by step.
these are wild speculations how russsian business works-plain & simple!
stb
every post is my personal opinion, no buy or sell recommendation!
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