Shares in Avanti (AVN) peaked at c50p following the reports in the FT that Inmarsat (ISAT) might have considered a 140p bid, a claim that seems ludicrous given the fact that Avanti is drowning in debt and needs a refinancing within weeks or it is tits up time. The shares have now drifted back to 37.375p today. Folks are starting to panic...perhaps they have looked at the bonds.
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