And there you go, a purchase in Spain right away.
Quite a small company; I think something a bit more substantial should come to replace the sale of the Dutch unit, IMO. A good start, but a rather negligible impact (3M turnover). CMD tomorrow.
Yeah, definitely. According to the release, it complemented Iddink Spanish.
{“content”:“What are your feelings about CMD so far? Pretty bland, nothing to get excited about for me. Just a few analysts present.”,“target_locale”:“en”}
Looks like the vibes were too good, as it led to a change in recommendation and the stock skyrocketing as a result. I would like to buy this for my investment savings account, which is why Inderes could have waited a couple of weeks before making the change to their recommendation 
We’ll see if the value drops once the Inderes effect subsides…
Funny price action, can’t quite decide how to price cash… And anyway, should it be priced with the multiples of a dying newspaper business (of which the Netherlands was probably shakier) or with the multiples of a stable digital learning business? If learning was already 45% of revenue and 55% of profit even before Iddink? Already?
I’m already pricing in my head a more scalable and profitable primary business activity…
I haven’t had time to watch it yet, is there a recording?
A bit of pre-Christmas rush at the company… Vacation is approaching threateningly.
Yes, but that ship has already sailed; my attempt to buy yesterday was off by a few cents. So, I’ll be skipping this one for now.
I already refueled with falling exchange rates from around the time of the iddink confirmation. I also asked about it in the technical thread at some point, when I was wondering how to refuel.
Good timing. I wasn’t convinced by CMD myself, which is why the bid was a bit lower than where it fell yesterday. The fragmented nature of the Learning side’s software and country-specific solutions don’t really appeal to me. There was clearly a demand for a more customizable solution that could easily produce different editions for various nationalities. Now they’re buying it piece by piece in small parts and trying to manage the whole with those. Investors don’t always see things the same way as software people do - that’s why I’m bad at investing in software stuff, I tend to be too critical.
That too, but if it’s a larger player, synergies might start to appear sometimes. I had actually thought that we would turn to growth in operating profit and turnover, and the multiples would start to look silly, and in a way, the sale in the Netherlands introduced variables to that.
Now it’s back to its target price, meaning in a week there’ll be another change → reduce, and the stock will drop back to 9.20 euros 
Is it already well over 10 euros?
Oh, how nice, I hope it stays up and we continue with digital multiples. We might still need a few more purchases, though. I could buy a bit more myself if it happens to drop that low again.
Moving on to scout for Gofore buying opportunities…
Answering myself. The rate has slid back to around 9.5, should I try to get it to 9, or should I add at least one more batch now?
Sanoma and Alma Media announced a moment ago a significant media industry corporate restructuring on a Finnish scale. Sanoma is buying Alma’s provincial, regional, and local newspapers, the most well-known being Aamulehti and Satakunnan Kansa.
@Petri_Aho hinted at the possibility of a corporate restructuring in a video just a couple of months ago Sanoma keskittyy oppimiseen - Inderes. It increasingly looks like a more potential option that Sanoma will sooner or later split into two separate companies.
Otava became Alma Media’s largest owner two years ago, which sparked speculation about potential corporate arrangements between Otava and Alma Media. “Otava’s man” Jorma Ollila was also appointed chairman of Alma Media’s board.
One option in the Otava and Alma scenario would be for Otava to acquire Alma Talent, which focuses on financial and professional magazines, from Alma, and for Alma’s crown jewel, Alma Markets, to “become independent” as its own listed company.
Well, I don’t know about this. I’ll have to mull it over and read the collected explanations, but fundamentally, acquiring provincial newspapers is the exact opposite direction of what I’ve envisioned for Sanoma. The press release mentioned something about increasing the number of digital subscribers, but don’t people in the provinces specifically want the paper, which they can then use to light the fireplace… Though, synergy benefits will surely be achieved.
And they’re hinting at selling Oikotie… I don’t get it.
As an owner of Alma, it seems like a very good deal. Precisely for the reasons @Koli listed above from Sanoma’s perspective. At the moment, one can only be confident in Alma’s leadership and their next moves.