The businessman and telecom speculator has resolved to move ahead with the plan to sell out one of his companies FOR ABOUT $3.1 billion. The company was of course sold to the widely renowned Verizon Communications Inc (NYSE:VZ), a matter that has of course attracted the attention of many.
A number of some top analysts in the industry have moved ahead to say that indeed it is a transformative period for Straight Path Communications Inc (NYSEMKT:STRP) since it has obtained a big premium despite being an obscure company.
According to sources, Straight Path Communications Inc has only about nine employees and it hasn’t yet established a network. A number of the top analysts have moved forward to state that it is as a matter of fact another windfall for Mr. Jonas, who in 2000 made a splash through the sale of a stake for about $1.1 billion in cash. The stake was as a matter of fact linked to an internet-calling company Net2Phone and the trade-off was of course done with AT&T Inc (NYSE:T).
In a recent interview, Mr. Jonas stated, “We don’t sell things unless someone comes along and gives us an outrageously good price “As would have been expected, the remark was met with mixed reactions among all the concerned parties with some searching for ways to criticize the top executive. However the larger group believes that the moves being taken by the company lately are generally for the best!
The top executive has a long and interesting history. During his early years, he engaged in a business of selling hot dogs in the Bronx, N.Y and later on he moved ahead to study economics and that was of course at Harvard.
The high-spirited and determined mind after some years saw it fit to move ahead and join the phone business where he thrived.
A lot of people do not yet know how to react to the recent statement made by the top official. It was difficult to comprehend why he could move ahead to term Straight Path Communications Inc the greatest mistake of his life. A lot is going on at the moment and whatever will become will take place in future something that we can’t tell. We can only speculate.