2 top picks from Deutsche bank : VOD and CTM

[Riz]

Deutsche bank rated CTM (Colt Telecom) as a top pick at £15.25 with a price target of £29.

VOD (Avodafone) was also reiterated as a top pick at 239p with its March 2002 price target of 375p.

Not that I go by Deutsche Bank's recommendations...but those 2 stocks are already on top of my watch list for 2001...so just quoting Deutsce Bank's recommendation as postitive news...I'll keep posting about them..

CTM up today +95 to 1620..
VOD up 3.25 to 242.25..

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[Riz]

Jeremy Batstone, of NatWest Stockbrokers tipped vod at 242 as one of the shares for 2001...saying unlike other phone companies, Vodafone is not overburdened with debt and seems well able to finance its newly won Third Generation licence...

 

[Riz]

From Sunday BUSINESS:

VODAFONE, the world’s largest mobile-phone operator is storming into Mexico by acquiring a 35% stake in Grupo Iusacell, the country’s second largest wireless company, for about $1bn. The deal, to be announced tomorrow morning, is the first time that Vodafone has moved into the hugely profitable Latin American market. Iusacell has over 1.5m subscribers in four of Mexico’s nine regions, including Mexico City. The purchase price will be paid in cash from Vodafone’s existing resources, without any need for the company to seek additional lines of credit, says the Sunday Business.

 

[Riz]

Vod announced today that it will acquire a 34.5% equity stake in Grupo Iusacell, S.A. de C.V.('Iusacell'), the second largest wireless operator in Mexico. The shares will be purchased from the Peralta Group
for $973.4 million (£648.2 million) (note 1).

Iusacell has over 1.5 million subscribers and 68 million covered POPs in four of Mexico's nine regions, including Mexico City. Iusacell also owns licences to provide PCS services in two regions in northern Mexico, covering an additional 11 million POPs.

Link for full details of the news: http://www.uk-wire.com/cgi-bin/articles/200101080700198322W.html

 

[Riz]

VOD fell nearly 6% to 228p after Hong Kong conglomerate Hutchinson Whampoa began selling a $2.5bn convertible bond to dispose of half its stake in vod.

WestLB Panmure reiterated its “buy” on VOD at 242.25p maintaining its 500p a share price target...

[This message has been edited by rizgar (edited 08-01-2001).]