CommComm upup
Seems there are still some believers in Commander Communications. Despite some analysts expecting more bad news ahead for the IT equipment-supply company after two profit downgrades in quick succession, Perpetual Investments clearly sees it as a potential takeover target after increasing its stake to more than 13 per cent. Commander's share price has rallied about 14 per cent from a recent low of $1.03 two weeks ago, although not everyone is seeing the stock through the prism of an opportunity in a bull market.
"Lots of people are looking them over, but to make them a target it needs to be an industry player," BBY analyst Mark McDonnell said. "The share price has halved for a good reason … and [a takeover bid] doesn't automatically follow."
Instead, some investors are turning their minds to mobile broadband operator Unwired, which had its fourth consecutive day of rises yesterday. The stock closed up 1.5c at 34c, taking its gains to 34 per cent over the last two weeks.
Two weeks ago pay TV pioneer Steve Cosser resigned as chairman citing "personal reasons", leaving some to speculate he could return with a bid.
UNW
unwired group limited
