Merger/Take over update

[El Presidente]

As suspected a little impasse has eventuated. Cuban Government has made it clear to Altadis that they have no interest in being a 50% partner with a British company let alone a US based company.

Plenty of sweet talking going on behind the scenes. Government has dug in. I suspect dug in for a financial sweetener ;-)

[shrink]

Are you insinuating that this isn't a matter of principle?

[Tampa1257]

» As suspected a little impasse has eventuated. Cuban Government has made it

» clear to Altadis that they have no interest in being a 50% partner with a

» British company let alone a US based company.

»

» Plenty of sweet talking going on behind the scenes. Government has dug in.

» I suspect dug in for a financial sweetener ;-)

But isn't Altadis also somewhat "Based" in the USA?

[El Presidente]

» But isn't Altadis also somewhat "Based" in the USA?

Personally I could never work out how the US Govt permits Altadis USA to openly do business while its parent is a 50/50 shareholder in Habanos s.a.

Far be it from me to say that the US Govt turns a blind eye to certain corporations and individuals (politicians/sporting stars) doing business with Cuba or openly enjoying Cuban cigars while at the same time cracking down on the average joe.

Has Michael Jordan, Bill Clinton or Arnold got an OFAC letter yet ;-)

[jgros001]

» » But isn't Altadis also somewhat "Based" in the USA?

»

» Personally I could never work out how the US Govt permits Altadis USA to

» openly do business while its parent is a 50/50 shareholder in Habanos

» s.a.

»

» Far be it from me to say that the US Govt turns a blind eye to certain

» corporations and individuals (politicians/sporting stars) doing business

» with Cuba or openly enjoying Cuban cigars while at the same time cracking

» down on the average joe.

»

» Has Michael Jordan, Bill Clinton or Arnold got an OFAC letter yet ;-)

Possibly they have gotten a letter, but the fines are insignificant to them. They do turn a blind eye and I am quite surprised it hasn't extended to the oil companies for two reasons: our current gov't is in tight with them and our utter dependence on the black gold.

Why Cuba's reluctance to do business with a UK based company (I am sure I probably missed a post on this somewhere)? I always thought they had a good relationship...at least with H&F...they only gave them one of the best regional releases.

I am interested to see how this plays out...

[Cam]

An answer like that was to be expected I guess..

[Quint]

» I suspect dug in for a financial sweetener ;-)

Wow what a surprise.....lol

[bobsled]

» » But isn't Altadis also somewhat "Based" in the USA?

»

» Personally I could never work out how the US Govt permits Altadis USA to

» openly do business while its parent is a 50/50 shareholder in Habanos

» s.a.

»

The key its the parent that holds the stake in Habanos, so Altadis USA is not directly related.....

[Tom Bolivar]

» An answer like that was to be expected I guess..

I agree, not really a surprise.

Rumor has it that the Brits want to make Habanos S.A. much more profitable (e.g. cut down much more of the slow selling vitolas) than Altadis.

[El Presidente]

» Why Cuba's reluctance to do business with a UK based company (I am sure I

» probably missed a post on this somewhere)? I always thought they had a

» good relationship...at least with H&F...they only gave them one of the

» best regional releases.

»

1. They don't speak Spanish

2. They don't like black beans

3. High standard of corporate governance.

[Taino]

you people never understand cubans just dont like gringos. A gringo for a cuban is almost everybody who speaks something different than spanish... and maybe, just maybe portuguese.

Having that in mind they'll do bussiness with almost anybody in the galaxy just IF: i) they like them or ii) business is proposed on a day they woke up with the right foot

...and by the way when i say cuban i mean the people who do business in cuba or else cuban gov.

[El Presidente]

» The key its the parent that holds the stake in Habanos, so Altadis USA is

» not directly related.....

Technically a US individual or company can not be a shareholder in a company which derives income from dealings with Cuba.

So how does Altadis USA get around this? No doubt their consultants are the Carlyle group.

The hypocrisy of the embargo just ticks me off no end. I am off to breakfast before I go and get my soap box and really get into it