Not buy­ing just yet

Finweek English Edition - - Martketplace -

Vivo is­sued a trad­ing up­date with two im­por­tant pieces of in­for­ma­tion. It con­cluded the En­gen deal, but with­out the Demo­cratic Re­pub­lic of Congo part of the busi­ness (this was the stick­ing point for the deal). This gives Vivo an ad­di­tional 225 branded ser­vice sta­tions in eight new African coun­tries (and Kenya where it al­ready oper­ates). But no news on the Mo­rocco is­sues re­gard­ing reg­u­la­tion. Vivo did state that it’s see­ing mar­gin pres­sure there, but the mar­ket is wait­ing for the Mo­roc­can king to an­nounce on the is­sue. Un­til the king does, the com­pany has se­ri­ous un­cer­tainty in its largest mar­ket. So, even with the price down at around 2 250c/share, I am wait­ing rather than buy­ing.

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