Originally posted by bug1
https://www.copyright link/content/dam/images/h/1/8/m/e/z/image.imgtype.afrArticleInline.620x0.png/1543729718543.pnghttps://www.copyright link/content/dam/images/h/1/8/m/e/z/image.imgtype.afrArticleInline.620x0.png/1543729718543.pnghttps://www.copyright link/content/dam/images/h/1/8/m/e/z/image.imgtype.afrArticleInline.620x0.png/1543729718543.pngStory in AFR about finance, has some projections UBS, no idea if they are new;
https://www.copyright link/street-talk/tpg-vodafone-front-banks-for-first-5b-20181202-h18m0d
12% EBITDA growth over 5 years
Forcast EBITDA at FY23 of $2056.6m, take an EV/EBITDA ratio of 9, gives EV of 18509.4 minus $5b of debt they are seeking, gives Market Cap of about 13.51B, merger of equals so half to TPG is $6755 divided by 926m shares gives projected value of $7.29 in FY23.
EV/EBITDA ratio of 9 was a guess, 10 =$8.40
If $4b out of the $5b of debt is used, 9 = $7.80, 10 = $8.94