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A shaky ride for C&W

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It’s been a shaky ride for my Cable and Wireless but in the end holding on proved the correct thing to do.

© Image copyright paulk

In previous years I would have bought in on the slump when Tata bought in but in the current environment I’ve not the nerve to trade these kinds of situation. The market is risky enough as it is.

I have just bought another chunk at 36p as it seems silly that the 38p price is being devalued by 5.5%. CW is cheap at this price and I should think it will take a small earthquake for this deal to go pear shaped.

I’ll hang about for a few months for 5%. This is the basis of takeover arbitrage hedge funds love and when it looks as glaring as this I can’t resist.

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