Just bought this at 64.75 pence,feel free to comment..

Prop,cant be long now.

dave, me and you into these and matalan... like minds... bit of news for you boys...

Brussels shares close higher; D'Ieteren gains on Avis buy rumours UPDATE
(Update with full report)
BRUSSELS (AFX) - Shares closed slightly higher, with car rental and distribution company D'Ieteren leading the index gainers on market rumour of a future takeover bid for Avis Europe (LSE: AVE.L - news) , traders said.
At the close, the Bel 20 ended up 6.39 points or 0.21 pct at 3,073.52.
Shares in D'Ieteren climbed 8 eur or 5.03 pct to 167 eur with a late stock surge after market talk circulated over a potential bid for Avis Europe, traders said.
'It has certainly something to do with that,' said a Delta Lloyd trader.
South Africa's Barloworld has been rumoured to be a potential bidder for the ailing Avis group.
In January this year, majority shareholder D'Ieteren -- with a 60 pct stake in Avis -- reported a 16 pct year-on-year rise in sales and reaffirmed its full year net profit target.


look at the spike in the chart late in the day, something cooking for sure.

http://uk.ichart.yahoo.com/w?s=IETB.BR

i am in....

I'm not but it looks good.

Run out of free cash again.

what a great day... picked some of these up at 50.25 last week, then at 60 on monday.. large position.. very few free shares in issue so could really motor if we get a bid confirmation.. feel if an offer does come then 90p is a minimum... very close to breaking out of downtrend we should force remaining shorts to cover imho...

stunning isn't it. i paid 59!

bought some more. think there is substance behing the rumour (imho!)

look at them go!

Evening all,avis going well i see,looks like its been a hot few days for my holdings,nice one daveedwards..

Any thoughts on a tie up with hertz.

very doubtful....imho

just a bubbling story and buyers still around. i really think there is substance to this

For sure prop for sure.

can't remember if i mentioned this but the new MD, Stuart Gent, was apartner at Bain. I know guys there and the fact is that a partner NEVER leaves unless the package and turnaround story is substantial. these partners are set for life and checking this guy out he was at the top of his game at Bain. must be a turnaround in size or how about this one....an MBO??? there is a new and perhaps accuate thought!

Prop its a win win situation,my initial upside was 20% on this short term but now it is near 50%,very happy with this one.

From UK-analyst last night for all you car hire types, make of it as you will.

Bid speculation in the mid-caps was more subdued today, but rumours continued to support the share price of Avis Europe. The shares rose 1.25p to 62p. There have been 2 possible scenarios mentioned. One story is that Belgium's D'leteren, which hold 60% of the company's share capital, would buy out minority shareholders. The other is that South Africa's Barloworld is seeking to move into the European market by purchasing Avis. Gains have been strong over the last week, so any bid premium is likely to be already priced in.

cheers gavdfc....i think there is athrird scenareo which i have mentioned above MBO!

I guess they don't think like you do, after all, they are only journalists! ;-)

Seems like a may have missed the boat on this one. Will see what Monday brings.

i think it is worth a tickle at these levels. have a small bookmark position to build on if they go sub 60. i just think the downside from here is limited.

That chart is starting to show the makings of a new uptrend .... higher highs and higher lows. It looks a bit overbought for entering a fresh position atm though. That doesn't mean that it won't carry on up ..... just that I'd like to see it retrace a bit first to give an entry in the mid-50's.

I don't understand the am fundies though. They seem to be showing a 40 odd million profit for 2003 with a negative P/E ratio???!!!??? How does that work? The P/E ratio seems correct, but they lost 32m.

Hilary,

Maybe down to the Moneyam fundies being quoted in , but the 2004 interims seem to be in Euros?

Financial Summary

Revenue up 3.9% to 548 million
Volume* up 3.8%, revenue per day* up 0.4%
Operating profit** lower at 39.6 million, including losses at Budget
of 5.4 million
Exceptional charge before tax 3.9 million
Profit before tax** lower at 10.6 million; unadjusted profit before
tax 5.4 million
(2003: 15.3 million)
Interim dividend maintained at 1.3 pence

* excludes Budget and Centrus and at constant currency
** before goodwill amortisation and exceptionals