In just five days, the stock market reality of MoreMobile it will change forever. Next Friday, September 11, is the deadline to accept the takeover bid (OPA) launched by the funds KKR, Cinven and Providence who aspire to take control of the owner of Yoigo. Of course, unless they request an extension to give shareholders more time. But it's not the only motive. Friday will also be his last day, at least for now, as a member of the selective.
The first unknown to be revealed on that key day is whether the takeover bid of the three investment firms, which is proposing 22.5 euros for each MásMóvil share, is coming to an end or has more to come. In principle, and if there are no extensions or counterpay, the minority shareholders of the 'teleco' only have until the close of the session this Friday to accept the proposal.
It should be remembered that a hard core of shareholders of the company, who represent 29.5% of the capital, have already assumed the National Securities Market Commission (CNMV) that his intention was to go to the purchase offer. The only option to break this deal is for a significantly higher counteroffer. Specifically, to put on the table more than 26 euros per share.
NO CLIMBING EXPECTATIONS
Today that possibility seems far from materializing. At least the market does not trust her, given the current price of MásMóvil, which is even below the price of the tender offer for the three funds and has stood at 22.4 euros per share in recent days.
And with no counter in sight, or extension (so far), the end of the investment fund offer coincides with the farewell of MásMóvil to the Ibex. He landed in it a little over a year ago, at the end of June 2019, when the 'teleco' was trading at around 19 euros per share.
Now it leaves the Ibex, precisely, as a result of the takeover bid. You can still return, but you will have to wait, at least, until October 7, when the Technical Advisory Committee of the index, decide whether to put it back in the selective or if you choose to replace it with another value.
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