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Telecom Plus - Acquisition of two energy suppliers

January 2014

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • TEP
  • Price:
  • 1741p
The shares rocketed to an all-time high of 1960p after utilities re-seller Telecom Plus announced the eps enhancing acquisition of two businesses supplying electricity and gas from nPower for £218m, to be funded by new borrowings and a placing and open offer at 1475p. As part of the transaction Telecom Plus will also be able to take advantage of a new 20-year energy supply agreement, which will significantly improve its margins. This is a transformation deal, at a stroke making Telecom Plus a “Big Seven†UK energy supplier with the scale to match or even beat the established operators on price.The group has also announced half-year results, which showed revenues and pretax profit rising 17% and 10.1% to £246m and £13.7m resp ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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