By Tom Winnifrith | Wednesday 4 May 2016
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Oddly enough it seems as if the bombastic boss of Avanti Communications (AVN), uber Welsh David Williams is not keeping his poor, and getting poorer by the day, followers up to speed with all the bad news from his worthless company.
We start in his back yard where there is mounting evidence that Viasat, a US based high speed satellite operator is eating Avanti's lunch in Europe. The Yanks have teamed up with the European Space Agency to set up a new High Capacity Satellite initiative to bring products to market.
Avanti used to be the darling of the European Space Agency. It paid for a big chunk of HYLAS 1, sold the Artemis satellite to Avanti and is the partner on HYLAS 3. It seems a huge blow for Viasat to come in and take over. Projects selected under the HCS Initiative will receive up to 50% funding, with assistance from ViaSat that could include technical support on proposal preparation and project execution, program management, test bandwidth and hardware support. It's unlikely that Avanti'll get a look in against a competitor or want to pitch for any of the business. Hmmm, not goode news for the bombast - you can read more HERE
Then we move further afield and I see that Luxembourg based SES has announced a deal with Facebook to sell satellite capacity for the next few years in Africa. Again, Avanti doesn't get a look in despite it's claims to be the best in the continent. So much for all those stories about Avanti and Facebook. You can see how Avanti is getting wiped by SES HERE
Shares in Avanti, at 94p, remain a slam dunk sell. Target - when the cash runs out - 0p.
Never miss a story.
This area of the ShareProphets.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ShareProphets.com. ShareProphets.com does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ShareProphets.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ShareProphets.com and is not intended to be relied upon by users in making (or refraining from making) any investment decisions.
Comments are turned off for this article.
Search ShareProphets |
Stock market news |
Recent Comments |