good luck with those figures, ONC is big into the card business in China, with about 30 million cards on issue and 300mil in float, but they can barely turn a profit.
If management here really wanted to enter China, they would just takeover ONC (obviously not that simple), they have the cards, loyalty programs and payment system set-up and CXN seem to have the good management that ONC lacks.
Taverners are trying to buy AKR, who own 27% or so of ONC, personally, I think all 3 companies should just merge.
anyway, the CXN entry into the card market seemed small fry and will take some time to develop, they are not even sure of the impact on earnings.......
Can anyone explain what the approval at the last meeting for the 222million shares was for? A new acquisition?
CXN Price at posting:
4.1¢ Sentiment: Hold Disclosure: Not Held
