I have received a letter from mmo2, the mobile phone operator that was de-merged from BT, telling me that I will have to either sell my shares for a guaranteed minimum price of 1.05 or swap them for new shares. What are other mmo2 share holders doing?
I'm swapping mine for the new ones. The company wants to cut admin costs by enticing its vast number of small shareholders to sell, but why should we? O2 has been getting some positive press of late, and the time could (could!) be ripe for a nice run from growth-oriented tech shares.
Warning: if you don't reply to the letter, they'll deem it that you are selling for cash.
wrote
Ahem - did you not see Watchdog on BBC1 last week?!!!
Very funny - "positive press" ... teeheehee.
No
?????
tim
Because the cost of selling later could be more than the gain that you make by holding.
There are apparently people out there with one share, there must be lots with under 50. BT should have offered these people a cash alternative in the first place (perhaps there is a technical reason why they couldn't), O2 are offering it now.
If you have a small number of shares - take the cash. If you have several hundred then do whatever you would have done anyway, the free dealing offer is worth what,
15 quid? A good deal for sombody with 100 GBP shares to sell, irrelevent if you have 1000 GBP.Where's the point in the middle? Dunno, up to you
tim
"tim" wrote
Let's just say they got the usual Watchdog treatment, with a string of complaints having come in from various O2 customers ...
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