LONDON (AFX) - Shares in on-line directory service Scoot.com PLC
sharply in midmorning trade as some 2.5 pct of the company changed
hands in the
market in what traders described as a "derivatives trade."
Although dealers were keen to play down the significance of the
saying it was made merely to protect positions in the derivative
news inevitably reignited hopes of a bid for the beleaguered group.
According to The Guardian newspaper, Scoot boss Robert Bonnier has
meetings with France's Vivendi Universal, which already owns a 22.4
pct stake in
the UK group. The paper reported that a deal has been struck and that
will launch a 125 pence a share bid later this week.
But the Daily Mail named Hutchison Telecom, which is owned by the
Shing-controlled Hutchison Telecom, as the likely predator, saying the
Kong-based group will bid some 150 pence a share.
At 10.02 am, Scoot.com shares were trading 4-1/2 pence higher at
with some 18.49 mln shares changing hands."
What do you think? The MMs are able to hold the price around 85/86 even though buys keep outnumbering sells.
Have they something up their sleeve?
i'm itching to get out again but cant get a clear signal.
I am not selling SCO just now..I think it can recoup more with or without bid rumours (which will never stop)..all signs I follow -general trend, charts, news, rumours, etc.- are telling me this stock has got more upwards..that's only my personal opinion of course...can never be sure.. unfortunately generally they go up and down..but I need to have predictions and act accordingly...well whatever.. that's my humble opinon and very very good luck to you..
There we go..another bid speculation another scooting by SCO..just as FRE did SCO will never stop being subject of takeover speculations until we see the back of it..sold for good...
After Telegraph wrote that Richard Li, son of Mr Hong Kong, Li Ka Shing, was holed up in a Monte Carlo hotel to talk to Vivendi, Scoot's 22.4pc shareholder, about buying the stake and using it as a platform to bid for the rest...SCO scooted up to 79p first thing, but the company denied all knowledge, and, by last night, the shares were back where they started the day...
SCO price has calmed down for now..but just temporarily...if you're in at less then 80 keep enjoying this every now and then just as I do...(wonder what has Shel done with his SCO )
Chart looks quite bullish by the way with share price bouncing back above lower BB...stochastic K heading up sharply crossing D at the oversold area...RSI bouncing up from 30 line up sharply...