Forum Archive Index - October 2000

[nickkearney <nk@xtra.co.nz>]

Ben

Why wouldn't they at US$ 2.36 average!!!

Makes our leading market capitalised company look like the equivalent of
going to the dairy and buying jet planes for 1 cent each

Cheers

NK

Ben Dutton wrote:
> 
> I'll let others tackle your question Heather but will say that it's
> interesting to see the below SSH notice today - "Brandes Investment
> Partners L.P", a U.S. funds management company, must regard the
> current price as cheap - they've just increased their stake on the
> open market.
> 
> Share price has reacted quite nicely as well - up to $5.94 at the
> moment (hit a low of $5.70 this morning)
> 
> Best Regards
> 
> Benjamin Dutton
> (Do not hold TEL)
> 
> TEL
> 03/10/2000
> SSH
> 
> REL: 1259 HRS Telecom Corporation of New Zealand Limited (NS)
> 
> SSH: TEL: SSH NOTICE RECEIVED
> 
>           NOTICE 6681 DETAILS
> 
> Submitted Date        : 03-Oct-2000 12:56
> Status                : Accepted
> 
>   Add Holder          : N  Change Holder       : Y
>   Ceased Holder       : N  Change Nature       : N
> 
> Issuer Code           : TEL Telecom Corporation of New Zealand Limited
> (NS)
> Sub. Sec. Holder      : Brandes Investment Partners LP
> 
> Address               : 11988 El Camino Real
>                       : Suite 500
>                       : San Diego
> City                  : CA 92130
> Country               : United States
> 
> Contact Name          : Ian Rose
> Phone                 : 858 755 0239  ext 3251
> 
> Total of Interest     : 152679847
> Total Issued          : 1752802000
> Total %               : 8.7
> 
> Class                 : TEL
> Votes Attached        : 1
> 
> Beneficial
>    Total of Interest  :
>    Current % held     :
>    Last % held        :
> 
> Non Beneficial
>    Total of Interest  : 152679847
>    Current % held     : 8.7
>    Last % held        : 7.6
>    Names              : Brandes Investment Partners L.P
>    Provisions         : 5F
>    Transaction dates  : 21/09/2000
>    Total Votes        : 152679847
>    Considerations     : 1525307398
> 
> Description           :
>    Acquired shares in open market for managed client accounts
>    Consideration: Because Telecom New Zealand stock was purchased in
> various
>    lots, listed consideration is based on average purchase price and
> exchange
>    rate of NZ$2.4540 per US$1.00
> Documentation
>    With Notice        : No
>    Not Filed          : No
>    Been Filed         : No
> Number of pages       : 1
> 
> Date of Last Notice   : 08-Apr-2000
> Rel. Sec. Holders     :
> 
> Submitted By          : Ian Rose on 03-Oct-2000 at 12:56
> End CA:00060157 For:TEL    Type:SSH        Time:2000-10-03:12:59:24
> Encrypt:Y
> 
> 
> 
> 
> 
> 
>      ----- Original Message -----
>      From: Heather Reiss
>      To: sharechat@sharechat.co.nz
>      Sent: Tuesday, October 03, 2000 2:28 PM
>      Subject: [sharechat] Wringing Telecom
> 
>      Telecom shares have become a lesson in patience for me.
>      Besides the obvious (ie company moving from yield to growth
>      and investor doubts about teleco stocks), does anyone have
>      any intelligent and or intuitive views on 1.) the continual
>      downward movement of these shares? 2.) are they worth
>      perservering with? Or should I take a dive before they do
>      again and again.?
> 
>      Regards
>      Heather De Reiss

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