I hope I'm wrong but maybe the sale price for NZ will be the next big disappointment. Just been throwing some back of the envelope figures around. Vocus is currently selling for 4.4 times its estimated full year EBITDA of $365m. If NZ business reported $29m EBITDA for half year this equates to around $60m annually. Applying the same 4.4 times ratio gives a market value of $264m - well below $500m?
Maybe the some of the parts is worth more than the whole, and you would probably assume the Vocus ratio is slightly distressed and discounts what would be paid for the takeover of a business, but that's a big premium for the NZ business. What am I missing here?
I hope I'm wrong but maybe the sale price for NZ will be the...
-
- There are more pages in this discussion • 5 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)