מכתב שפרסם השותף שלי עמית שמיר לדירקטריון של אטנטו

עמית פרסם אתמול מכתב לדירקטריון של אטנטו. מאוד אהבתי את המכתב והחלטתי לפרסם אותו בבלוג. בנוסף כתבתי פוסט על אשראי חוץ בנקאי לאחר שהייתי בפגישות במספר חברות כרגע הפוסט יהיה למנויים בלבד.

Letter to Board of Atento

The Board members of Atento should have personally responsible to act on behalf of Atento’s shareholders with the high standards that their fiduciary duties require. They got the “green light” from shareholders to return substantial amount of cash through buyback or tenders. We and other shareholders think it is a “no brainers” decision at these prices, and that it is the responsibility of the Board, on behalf of the company’s shareholders, to take advantage of such a large opportunity. Given the degree to which Atento appears undervalued to us, we almost feel that it’s a waste of time to question the point. We agree that the company should invest in growth and capex, yet even after taking such factors into account, we believe that substantial excess liquidity remains. We believe this action will greatly enhance value for all long-term shareholders who believe, as we do, in the potential of Atento. In the coming weeks, we hope to hear good news from the Board about the capital plan and a resolution regard Bain’s control.