Much is being said about the possibility of someone launching a counterpayment on MásMóvil at least 26 euros to come before the intentions of the funds of KKR, Cinven and Providence. Orange? Vodafone?
It seems that only one of these two operators would be the perfect candidates to launch the counterpair. but having to do it in cash also adds an additional problem since they would have to have the necessary help from another of the large international funds, CVC.
Also, there is always the possibility that this is a simple trick to heat MásMóvil’s share price to try to get a little more shine to the operation of having been bought since last week.
Therefore, as of today I am still thinking exactly the same thing that I said last Monday: the business is already done and you just have to spend the money somewhere else.
In fact, from a technical point of view, there is little more to add. The price continues to trade in the area of 23 euros and always at a higher price than the current takeover bid. This means that investors still see a remote possibility of seeing a counterpayment.
However, if that were really the case, we would rather be with prices closer to 26 euros than 22.50. However, we should not rule out the discounting of another scenario that no one has spoken of until now: an increase in the current price of the takeover bid by KKR and its partners to 23.50 euros in an attempt to guarantee the good end of the takeover bid with 50% acceptance.
Evolution of the price of the shares of Masmóvil since the takeover bid for 22.50 euros
But you really have to give up on the evidence. We have stocks, like the banking sector or IAG, that have grabbed investors’ money this week and that means that having your money parked at MásMóvil is not the best option.