SNSN schreef op 27 november 2014 18:06:
It was well known that kpn is highly undervalued stock, put down artificially by big players, "supported deliberately" by small/mid profs optimizing their returns, and "accidentally supported" by large number of small retailers, which were taking "small losses" randomly, but systemically - again and again... trying to repurchase lower. It was known a long ago that kpn had unique market & credit/default “risk-neutral profile“ (almost zero beta and negligible default risk), very low downside risk and high upwards potentials - fair value was around ~4.0. Due to known “timetable” for changes in “new kpn” fundamentals/financials (assuming the main shareholder and board would act rationally) the timing for systemic changes in price & shareholders' structure was also well known/predictable - around h2, or most likely a bit later....
PS. Although "was difficult" to break R2 (actually buyers didn't need that), we are well above the "falling-top-line" (~2.686 at closing) quite ahead of a "critical schedule