The fourth paragraph ties all the threads together....it's all falling into place now!
Master meets Commander- Australian Nov 27, 2007
THE management at junior telco Commander Communications could be in line for a shake-up, following recent purchases of its stock by investment management business Hunter Hall.
Following Commander's reinstatement to official quotation on the ASX on October 30, Hunter Hall doubled its stake in the company to 10 per cent in less than a week.
Hunter Hall declined to comment on its increased stake, but the firm has a track record for turning around troubled companies, which should sound warning bells for Commander's besieged management.
Earlier this year Hunter Hall turned around the operations of another troubled telco in which it was a shareholder, Orion.
Orion Telecommunications' share price was suffering after it fought off a hostile takeover attempt and, as a majority shareholder, Hunter Hall installed new management and sold off some assets.
This turnaround attracted a takeover offer that valued Orion's shares at a 60 per cent premium, a deal that was closed recently.
It is understood that Hunter Hall's interest in Commander arises from the changes the company has flagged in addition to the purchasing interest the troubled telco has attracted in recent months.
The Orion turnaround would be experience that Hunter Hall could draw on in shaking up Commander's management.
CDR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
