This sums up much of my thinking - I hold a few and swing trade a few and even trade intraday sometimes ......

I think there is a lot of slack that management can cut out of the costs and would also anticipate sector consolidation ..... good value currently and have been holding their own in a falling market. Lot of US interest.

ains


Edited by Dominic White
(Filed: 08/02/2003)


Texting makes MmO2 sexy but it's also risky

More and more Britons are discovering the joys of textual intercourse. In the month of December, we fired off more than 50m mobile messages a day, and next Friday (that's Valentine's Day, folks, in case you'd forgotten) we'll send considerably more than that.



It emerged this week that the chief beneficiary of this craze is MmO2 . BT's former mobile phone division revealed that it gets a higher proportion of revenues from texting than any of the other three operators.

Revenue from messaging grew at its fastest rate ever in the last quarter, up 19pc, and data services as a proportion of MmO2 's revenue rose to 17.7pc from 15.6pc.

More good news was the rise in MmO2 's average revenues per customer. ARPUs, as nerdy analysts like to dub them, grew by 5pc to 243 in the UK and by 9pc in Germany to 212.

MmO2 now has 19.1m subscribers and in Britain it may be the smallest player, with 11.9m users, but it is growing faster than its rivals - testament to the success of its rebranding from BT Cellnet.

Only 114,000 of its 503,000 new UK subscribers were higher-spending contract customers, but MmO2 claims its pre-pay customers have started spending more than before.

Customer growth in Germany, which continues to be dominated by T-Mobile and Vodafone, is less impressive and the MmO2 share price ascribes little or no value to this part of the business.

That seems unfair, given the fact that the group has attracted higher-spending customers and has made a decent fist of turning the operation around. An eventual sale or merger is almost as inevitable as a disposal of the Dutch unit, which is losing customers.

MmO2 's larger rival Vodafone is trading on a free cashflow yield of 6pc, while at 49p this week, MmO2 's equivalent valuation remains negative. It might not have Vodafone's scale or profitability but there is room for upside. A risky buy.

I think there could be when US clicks in later - nas is improving to plus 5.5



Buy orders Sell orders
Num(%) Num Vol(%) Vol VWAP Vol Vol(%) Num Num(%)
1% (57.89%) 11 (81.60%) 2,981,126 55.68 - 56.36 672,349 (18.40%) 8 (42.11%)
5% (60.00%) 18 (68.87%) 4,335,607 55.50 - 56.78 1,959,749 (31.13%) 12 (40.00%)
10% (56.52%) 26 (69.75%) 4,808,057 55.34 - 56.87 2,084,849 (30.25%) 20 (43.48%)
15% (57.38%) 35 (64.91%) 5,397,757 55.03 - 57.76 2,918,419 (35.09%) 26 (42.62%)
50% (60.00%) 39 (68.71%) 6,407,923 54.23 - 57.76 2,918,419 (31.29%) 26 (40.00%)
100% (60.00%) 42 (68.40%) 6,428,043 54.18 - 57.89 2,969,111 (31.60%) 28 (40.00%)
all (58.33%) 42 (68.37%) 6,428,043 54.18 - 58.02 2,973,411 (31.63%) 30 (41.67%

theres the 57p we talked about :-))

By Business Weekly, 28 April 2003,

Advances in nanotechnology mean that the lost or stolen mobile phone could become a thing of the past, according to technology research hothouse BTexact.



Ian Pearson, Suffolk based BTexacts futurologist



Advances in nanotechnology mean that the lost or stolen mobile phone could become a thing of the past, according to technology research hothouse BTexact.

Ian Pearson, Suffolk based BTexacts futurologist believes that the concept of active skin whereby incredibly small electronic circuits are inkjet printed onto the surface of the skin could become a reality by 2010.

This, he says, will open the way for the integration of electronic devices such as the mobile phones or televisions literally into the human body.

According to Pearson, circuits could be factory assembled in thin polymer membranes that adhere to the skin like childrens temporary tattoos and large-scale circuitry could be embedded in stick-on patches similar to plasters.

The combination of layers allows entire gadgets to be built, and permits links between the body and electronic domains such as the internet.

Semiconductor circuits can already be printed using inkjet printers, so it could also be feasible in the future to have circuits painlessly printed onto hands or arms, in somewhere like a local corner shop.

The idea is to use a five-layered architecture, with a few components deep in the skin that would stay there permanently, in contact with blood capillaries and nerve endings. They could communicate by infrared with others higher in the skin that would wash or wear away after a few days.

Cellphones, MP3 players, electronic diaries and other consumer electronics could be printed into wrists, arms or legs. A full keyboard could be embedded in a forearm but remain almost invisible until touched and then it would light up.

The circuitry itself would be made of dispersed groups of invisibly small devices, so that there would be more than a very slight colour change in that area of skin before the device is switched on.

Pearson says: By the end of this decade, it will be possible to build simple identifier, memory and processing chips, sensors, and short range communication devices, all smaller than human skin cells, which are about 10 microns across.

We could painlessly print or blast these chips in significant numbers into the upper layers of the skin and, by using self-organisation technology, arrange them into useful circuits and consumer electronic gadgets.

The displays for these devices could be based on small organic LEDs. It could have a simple single indicator light, an active tattoo or an entire computer display. Having a TV printed onto the back of the hand might be quite appealing for TV addicts.

Pearson says active skin technology could also be used by the medical profession to monitor our blood chemistry remotely and enable hospitals to check up on patients via computers or mobiles.

These computers could also remotely control drug dispensers. It might even be possible to print special membranes with pores that can be electronically opened and closed and thereby dispense accurate dosages.

Citigoup Smith Barney raises its price target on the mobile operator, with an upgrade from Commerzbank also boosting sentiment, dealers said. Notwithstanding its outperformance over the past 12 months, Smith Barney raised its target price to 70 pence from 65 pence due to mmO2's lowly valuation. According to the influential broker, mmO2 trades at a discount of between 15-40% to its break-up value, which may entice an independent strategic buyer into making a bid for the group. A private equity takeover is also a distinct possibility, said Smith Barney. mmO2's improving margins, low debt levels and easily separable asset may prove "compelling" to a venture capital buyer, argued the broker, which has an 'outperform' rating on the stock.

Commerzbank also turned more positive on mmO2, upping its rating to 'accumulate' from 'hold' and raising its price target to 62 pence from 52. The German broker feels mmO2 will outperform the sector over next one to three months due to likely improvements in its working capital and encouraging first- and second-quarter key performance indicators. In common with Smith Barney, Commerzbank believes that the competitive threat from Hutchison Whampoa Ltd's new entrant, 3, has been exaggerated.

snippet from Times



MmO2 put on 2p to 56p as Smith Barney raised its price target on the mobile operator from 65p to 70p ahead of full-year results on May 21. After this months sale of its Dutch operation, the US broker believes the case for the sale of its German business, which it thinks attractive to trade and private equity buyers alike, is overwhelming.

Nice articles. What's today's prediction for OOM & VOD. L2 for both please. Thanks.

I think a 58p close subject to no fallout from US later - currently nas up 3 points


ains



Buy orders Sell orders
Num(%) Num Vol(%) Vol VWAP Vol Vol(%) Num Num(%)
1% (55.88%) 19 (61.79%) 2,939,287 57.04 - 57.94 1,817,633 (38.21%) 15 (44.12%)
5% (54.55%) 24 (63.28%) 3,924,474 56.88 - 58.06 2,277,700 (36.72%) 20 (45.45%)
10% (47.54%) 29 (56.18%) 4,710,835 56.64 - 58.44 3,673,949 (43.82%) 32 (52.46%)
15% (54.93%) 39 (57.22%) 4,914,535 56.49 - 58.44 3,673,949 (42.78%) 32 (45.07%)
50% (54.05%) 40 (57.86%) 5,114,535 56.24 - 58.53 3,724,641 (42.14%) 34 (45.95%)
100% (55.84%) 43 (57.96%) 5,134,655 56.16 - 58.53 3,724,641 (42.04%) 34 (44.16%)
all (54.43%) 43 (57.93%) 5,134,655 56.16 - 58.63 3,728,941 (42.07%) 36 (45.57%)






Buy orders Sell orders
Num(%) Num Vol(%) Vol VWAP Vol Vol(%) Num Num(%)
1% (43.24%) 32 (56.28%) 8,108,281 125.39 - 126.71 6,297,594 (43.72%) 42 (56.76%)
5% (31.54%) 41 (34.50%) 8,606,794 125.27 - 127.51 16,338,253 (65.50%) 89 (68.46%)
10% (27.83%) 59 (28.74%) 10,067,994 124.58 - 128.50 24,965,876 (71.26%) 153 (72.17%)
15% (35.69%) 96 (32.85%) 12,853,766 122.81 - 128.80 26,279,380 (67.15%) 173 (64.31%)
50% (39.56%) 125 (32.66%) 13,249,637 122.47 - 129.24 27,317,568 (67.34%) 191 (60.44%)
100% (48.78%) 200 (35.41%) 15,124,658 120.20 - 129.51 27,589,652 (64.59%) 210 (51.22%)
all (48.08%) 200 (35.38%) 15,124,658 120.20 - 129.70 27,624,800 (64.62%) 216 (51.92%)

O2's very strong @58. Wish I had it. What's your opinion on VOD close. Have the L2 VOD sales been executed now hence the upturn or is further downturn likely. L2 now?

I don't trade VOD ...... I prefer OOM as a fall backk is the idea of M+A activity. They are too big imho and size isn't everything. OOM can be more nimble in changing strategy - for the ST and long time imho


ains




Buy orders Sell orders
Num(%) Num Vol(%) Vol VWAP Vol Vol(%) Num Num(%)
1% (43.24%) 32 (56.28%) 8,108,281 125.39 - 126.71 6,297,594 (43.72%) 42 (56.76%)
5% (31.54%) 41 (34.50%) 8,606,794 125.27 - 127.51 16,338,253 (65.50%) 89 (68.46%)
10% (27.83%) 59 (28.74%) 10,067,994 124.58 - 128.50 24,965,876 (71.26%) 153 (72.17%)
15% (35.69%) 96 (32.85%) 12,853,766 122.81 - 128.80 26,279,380 (67.15%) 173 (64.31%)
50% (39.56%) 125 (32.66%) 13,249,637 122.47 - 129.24 27,317,568 (67.34%) 191 (60.44%)
100% (48.78%) 200 (35.41%) 15,124,658 120.20 - 129.51 27,589,652 (64.59%) 210 (51.22%)
all (48.08%) 200 (35.38%) 15,124,658 120.20 - 129.70 27,624,800 (64.62%) 216 (51.92%

L2 info just provided is unchanged from the previous one? Because levels not hit?

ooops .... it may not have refreshed


here is latest



Buy orders Sell orders
Num(%) Num Vol(%) Vol VWAP Vol Vol(%) Num Num(%)
1% (52.13%) 49 (57.47%) 9,471,165 125.55 - 127.16 7,010,041 (42.53%) 45 (47.87%)
5% (35.58%) 58 (36.48%) 9,955,165 125.50 - 127.88 17,332,924 (63.52%) 105 (64.42%)
10% (35.27%) 79 (33.06%) 11,460,878 125.00 - 128.70 23,205,768 (66.94%) 145 (64.73%)
15% (40.83%) 118 (37.57%) 14,677,650 123.21 - 129.01 24,385,052 (62.43%) 171 (59.17%)
50% (43.64%) 144 (37.18%) 15,067,746 122.91 - 129.49 25,456,644 (62.82%) 186 (56.36%)
100% (52.48%) 222 (39.77%) 16,948,542 120.83 - 129.75 25,672,744 (60.23%) 201 (47.52%)
all (51.75%) 222 (39.73%) 16,948,542 120.83 - 129.95 25,707,892 (60.27%) 207 (48.25%)

Is L2 stronger now for both stocks ahead of US open which is at its strongest.

Sorry was out ....



Buy orders Sell orders
Num(%) Num Vol(%) Vol VWAP Vol Vol(%) Num Num(%)
1% (49.48%) 48 (51.94%) 12,207,013 125.62 - 127.05 11,294,321 (48.06%) 49 (50.52%)
5% (34.36%) 56 (36.99%) 12,631,345 125.57 - 127.68 21,517,204 (63.01%) 107 (65.64%)
10% (34.82%) 78 (34.10%) 14,169,058 125.15 - 128.42 27,380,048 (65.90%) 146 (65.18%)
15% (40.48%) 117 (37.84%) 17,385,830 123.61 - 128.69 28,559,332 (62.16%) 172 (59.52%)
50% (43.33%) 143 (37.50%) 17,775,926 123.34 - 129.12 29,630,924 (62.50%) 187 (56.67%)
100% (52.25%) 221 (39.71%) 19,656,722 121.51 - 129.34 29,847,024 (60.29%) 202 (47.75%)
all (51.40%) 221 (39.68%) 19,656,722 121.51 - 129.52 29,882,172 (60.32%) 209 (48.60%)

Buy orders Sell orders
Num(%) Num Vol(%) Vol VWAP Vol Vol(%) Num Num(%)
1% (45.16%) 14 (36.96%) 1,249,579 57.35 - 58.13 2,131,208 (63.04%) 17 (54.84%)
5% (45.95%) 17 (39.69%) 2,083,817 57.10 - 58.41 3,166,608 (60.31%) 20 (54.05%)
10% (45.10%) 23 (47.67%) 2,977,636 56.65 - 58.45 3,268,312 (52.33%) 28 (54.90%)
15% (54.84%) 34 (49.47%) 3,200,336 56.41 - 58.45 3,268,312 (50.53%) 28 (45.16%)
50% (53.85%) 35 (50.61%) 3,400,336 56.03 - 58.55 3,319,004 (49.39%) 30 (46.15%)
100% (55.88%) 38 (50.75%) 3,420,456 55.91 - 58.55 3,319,004 (49.25%) 30 (44.12%)
all (54.29%) 38 (50.72%) 3,420,456 55.91 - 58.67 3,323,304 (49.28%) 32 (45.71%)

Wow did you see that downturn. Has their been any change to L2 strengh. Vod should close <125.5 signalling further downside tommorrow unlike +ve OOM. US has just turned marginally -ve which believe me was v.difficult with better than expected consumer confidence figs which caused US to spike up 80 pts ~8560 and S&P 924.25.

Like I said earlier - it would depend on the US situation


Buy orders Sell orders
Num(%) Num Vol(%) Vol VWAP Vol Vol(%) Num Num(%)
1% (43.33%) 13 (46.34%) 1,780,387 57.22 - 57.97 2,061,964 (53.66%) 17 (56.67%)
5% (44.74%) 17 (54.67%) 2,923,785 57.00 - 58.05 2,424,349 (45.33%) 21 (55.26%)
10% (43.10%) 25 (49.74%) 3,856,084 56.66 - 58.43 3,896,053 (50.26%) 33 (56.90%)
15% (52.17%) 36 (51.15%) 4,078,784 56.47 - 58.43 3,896,053 (48.85%) 33 (47.83%)
50% (51.39%) 37 (52.02%) 4,278,784 56.17 - 58.51 3,946,745 (47.98%) 35 (48.61%)
100% (53.33%) 40 (52.14%) 4,298,904 56.07 - 58.51 3,946,745 (47.86%) 35 (46.67%)
all (51.95%) 40 (52.11%) 4,298,904 56.07 - 58.61 3,951,045 (47.89%) 37 (48.05%

Buy orders Sell orders
Num(%) Num Vol(%) Vol VWAP Vol Vol(%) Num Num(%)
1% (33.33%) 26 (37.29%) 5,132,598 124.36 - 125.93 8,629,977 (62.71%) 52 (66.67%)
5% (29.69%) 38 (24.62%) 5,961,111 124.19 - 126.62 18,255,366 (75.38%) 90 (70.31%)
10% (22.98%) 54 (19.03%) 7,337,138 123.46 - 127.50 31,227,086 (80.97%) 181 (77.02%)
15% (30.98%) 92 (22.46%) 10,277,248 121.40 - 128.13 35,487,796 (77.54%) 205 (69.02%)
50% (34.31%) 117 (22.34%) 10,507,954 121.15 - 128.48 36,535,984 (77.66%) 224 (65.69%)
100% (44.14%) 192 (25.17%) 12,382,975 118.57 - 128.69 36,808,072 (74.83%) 243 (55.86%)
all (43.57%) 193 (25.16%) 12,382,976 118.57 - 128.84 36,843,216 (74.84%) 250 (56.43%

L2 strong? Finding support @57. S&P/DOW futures marginally lower. Prediction?

Interesting one today ..... recovered after the early morning dip - seem to be following the overall market trend - sector down around half a percent - market a tad less - US nas down 3.5 points

With little news at this time I guess a small negative - maybe 57/57.5p although vols are high which is always interesting




Buy orders Sell orders
Num(%) Num Vol(%) Vol VWAP Vol Vol(%) Num Num(%)
1% (50.00%) 17 (46.15%) 1,947,689 57.03 - 57.92 2,272,358 (53.85%) 17 (50.00%)
5% (46.51%) 20 (45.02%) 2,423,731 56.93 - 58.04 2,960,285 (54.98%) 23 (53.49%)
10% (42.42%) 28 (44.10%) 3,122,964 56.60 - 58.31 3,959,034 (55.90%) 38 (57.58%)
15% (46.84%) 37 (40.80%) 3,310,388 56.41 - 58.78 4,803,321 (59.20%) 42 (53.16%)
50% (47.62%) 40 (47.10%) 4,322,575 55.19 - 58.85 4,854,013 (52.90%) 44 (52.38%)
100% (50.00%) 44 (47.25%) 4,347,595 55.09 - 58.85 4,854,013 (52.75%) 44 (50.00%)
all (48.89%) 44 (47.23%) 4,347,595 55.09 - 58.93 4,858,313 (52.77%) 46 (51.11%

this is good news


30 Apr 2003 11:25 BST

EU clears T-Mobile and mmO2 network sharing

BRUSSELS (Reuters) - Telecoms operators T-Mobile and mmO2 have won European Commission approval to share networks for third generation mobile phones in Britain.
Heavily-indebted telecoms operators are increasingly resorting to sharing their infrastructures to slash costs and speed up the rolling-out of long-awaited 3G services.

"This decision strikes the right balance between infrastructure competition in the 3G market and the immediate consumer benefit of faster and wider roll-out of advanced 3G services," European Competition Commissioner Mario Monti said in a statement.

The companies had asked the Commission in February for approval of a cooperation accord to share their sites in Britain and Germany.

The Commission granted approval for the British part of the accord and said a decision on the network sharing in Germany would be announced in the near future.