This one looks quite interesting - IDN



MACD and RSI both positive and a break through the top Bollinger should see new levels being attained.

Has been in a down turn for some time and for no specific reason. Brokers estimate an EPS of .26 for FY05 and .31 for FY06 on a rough guide PE of 15 and taking no consideration for tax benefits it looks very cheap. The company is profitable and Seymour Pierce have recently issued an outperform recommendation.

Price 03/11/05 = 2.3 to buy

Another good day, ahead of trading statement expected later in the month.

Didn't make 3p and disappointing offer price, but I can live with it!


Redstone PLC
30 November 2006


30 November 2006


Not for release, publication or distribution, in whole or in part, in, into or
from the United States, Canada, Ireland, Australia or Japan, or any other
jurisdiction where to do so would constitute a violation of the relevant laws of
such jurisdiction.


REDSTONE plc


Recommended cash offer by Evolution Securities Limited on behalf of Redstone plc
for IDN Telecom plc


Redstone plc ('Redstone'), the national IT and communications solutions
provider, announces today a recommended cash offer for IDN Telecom plc
('IDN') of 2.939 pence per IDN Share, which values the existing issued share
capital of IDN at approximately 11.4 million and assuming full exercise of
rights under the existing option schemes of IDN at 11.8 million.

Irrevocable undertakings to accept the offer have been received in
respect of 154,213,231 IDN Shares representing 39.75 per cent. of the
current issued share capital of IDN.

IDN is an established and profitable independent provider of
telecommunications solutions and consultancy services to B2B
customers.

The Redstone Directors believe that the Acquisition is a further
step towards establishing Redstone as a leading IT and communications
solution provider for B2B customers in the UK and Ireland.

The Redstone Directors believe that the Acquisition provides the
Group with the following principal strategic benefits:

o the addition of in excess of 2,000 corporate and SME customers;

o increased critical mass within its fixed line telecoms and mobile
divisions; and

o cost savings through synergies from combining the two UK based fixed
line telephony businesses.

Consideration to be financed by Redstone's increased facilities with
Barclays.


Martin Balaam, Chief Executive of Redstone, commented, 'The offer for IDN
represents a further step in our stated strategy to take advantage of
consolidation in this industry. We believe that the integration of IDN with
Redstone will realise both synergies and opportunities to cross sell our
additional service offerings to IDN's customer base. We believe that this
acquisition enhances our market position and ensures we are best placed to
generate future growth and shareholder returns

IDN was never going anywhere. The shareholders were lucky to get what they have.