Re: Latam discussion
IMO, there is a difference between how companies are valued by the stock market and how they are valued in private negotiated transactions.
Aside from the fact that when assets are put up for sale there are sometimes competing offers that ensure a large premium, it can be argued that "control" is worth a premium and the tax implications are different when you own 100% of something as opposed to just shares.
So 9x EBITDA in a private transaction may only be 6x or 7x in the stock market give or take.
IMO, to get the valuation that management is always talking about, they'd have to sell the company. That's why earlier I said "this is a good start". IMO, the stock isn't gong anywhere unless the fundamentals improve or more pieces are sold. But the best scenario is selling the whole thing and getting it over with.