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sgt4 - Sun, 22 Dec 02 :

Just worried about getting caught in the OOM boy if it slides after that article. Still, all that should've been assessed by the broker eedjits. Glad I got he ISYS on Friday...might be adding to it on the way up.

Missed bloody BP down around 410 Friday, might get lift cos disposal/dumps and the Ven. deal, and if IRAQ stop production.
CLosed my SFW short too soon the other week...wonder how much left down in it?

CHAS, also strongly feel that C&W shortable all the way to ground zero...emailing ye analyst report right now.
Alos a few bucks a point on BSY long looks like a stocking filler.

Vodafone Group

HOLD at 113p says Commerzbank (18th December 2002).

The news that Chris Gent will retire from his position as CEO at Vodafone next summer was expected, but could still spark questions over the group's operating performance. Commerz has however maintained its cautious forecasts, which it explains reflects the continued concern over issues such as mobile termination rates and the competitive threat posed by the entry of Hutchinson. The broker however believes that Gent's successor Arun Sarin, who already has a strong track record as COO of AirTouch Communications, will be a "good replacement". It expects Sarin to focus Vodafone's efforts on generating greater value from the group's current assets and will avoid expensive acquisitions. Furthermore, although Sarin has experience of the US market Commerz notes that one should not assume that Vodafone will now look to extend its presence there. The broker concludes by upgrading its recommendation to "hold" from "reduce" and lifts its target price to 110p, adding that any fall below this price would represent a buying opportunity.


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