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19/11/2001
MMO2 trading sees confident start
Monday saw a confident start to share trading in MMO2, the demerged mobile phone subsidiary of telecommunications company BT.
Now trading as a separate company, shares in MMO2 opened at a starting point of 80p with around 130 million shares changing hands during the course of the morning, leaving the price resting at around 84.5p by mid-afternoon.
However, while revenue for the year ended 31 March 2001 exceeded £3 billion, concerns are already being raised over the company’s viability. MMO2 is reckoned by many analysts to be “a relatively weak player” in comparison to other mobile phone companies such as Orange, with a particular weak point to be found in its European operations, especially in regard to its German subsidiary Viag Intekom. In addition, despite the approval of financial institutions such as Goldman Sachs and the Daiwa Institute of Research, many other experts are advising shareholders to sell as soon as possible.
Valued at over £6.6 billion, MMO2 has a workforce of around 15,000 serving a customer base of 17 million.
It is expected that the company will be listed in the FTSE 100 index of leading shares. (CL)
Now trading as a separate company, shares in MMO2 opened at a starting point of 80p with around 130 million shares changing hands during the course of the morning, leaving the price resting at around 84.5p by mid-afternoon.
However, while revenue for the year ended 31 March 2001 exceeded £3 billion, concerns are already being raised over the company’s viability. MMO2 is reckoned by many analysts to be “a relatively weak player” in comparison to other mobile phone companies such as Orange, with a particular weak point to be found in its European operations, especially in regard to its German subsidiary Viag Intekom. In addition, despite the approval of financial institutions such as Goldman Sachs and the Daiwa Institute of Research, many other experts are advising shareholders to sell as soon as possible.
Valued at over £6.6 billion, MMO2 has a workforce of around 15,000 serving a customer base of 17 million.
It is expected that the company will be listed in the FTSE 100 index of leading shares. (CL)
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Unions brand BT demerger as “insane”
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Northern Ireland WeatherToday:After a dry start this morning rain will spread from the northwest across all parts. This afternoon will be dull with some patchy rain and drizzle. Becoming much milder through the afternoon. Maximum temperature 11 °C.Tonight:A cloudy evening and night with a little light rain or drizzle, perhaps some clear periods developing along the east coast. A very mild night everywhere. Minimum temperature 10 °C.
