TeliaSonera has been selling its 25% stake in the company for some time now, and they've almost completed their sell off. Interestingly enough, you don't see any other insider selling!! Sonera had two directors on MTON board and after MTON was not successful in renegotiating the contract with ATT, Sonera decided to bail out. This is a critical point, and requires some speculative insight to it.
TeliaSonera and existing management did not agree on ATT!! The question now that we need to ask ourselves is, why didn't they agree? If you look at this event form a perspective of Sonera, they must have insisted on renewing the ATT contract to keep that revenue stream no matter what, while the existing management did not want to renew the contract at new terms, where ATT most likely wanted to squeeze more profits and make this contract nonprofitable for MTON! (speculation) If the existing management does not have any trumps up their sleeves, why would they opt not to renew that contract, even if it was at loss? Well, again, that makes me think that the management has something going on, and what they have is something that they strongly believe they can pull it off. I can not imagine them making moves that are in their mind ment to take this company further down. It is a cash cow.
Another way to look at this issue is that management also saw the opportunity to rid the majority stake holder for pennies on dollar invested, i.e. buyback its shares cheap. Not so bad option for a healthy company, which they were and still are. Ailing health recently as it seems, but that is yet to be seen.
To narrow the gap between wider market acceptance of their personalized Infone service and recent revenue losses, MTON needs to grab the market share with some new and also increased number of smaller providers that do not offer that service and that do not have incentives to provide those services themselves.
That is where MTON has no competition with their pricing. The big players such as ATT are charging 35% more then MTON per DA call.
When you think of it, the only barrier for their personalized Infone service is just the matter of convenience for any of us that are using the DA service, when we use it. It is much easier to dial 411 then 1-888 xxxxxx, even if that call will cost you 35% more. In my mind it is just the matter of programming one key on your phone (cell or land line) and you pay less when you need this service. A small step and one time effort that turns to be a huge barrier!!! Very interesting!
From my personal experience, their service is superb, be it a directory service, restaurant suggestions or driving directions throughout US. As ATT wireless user, I used them often in NYC when I was not sure about the exact names of restaurnats and their locations, and movies, and they were just impecable in helping me to find what I was looking for.
I view recent revenue losses as temporary weakness in thier business, and if they pull this one off, the upside potential is huge, IMHO.
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