Orange SA (ORAN)

They will have to find ways to conserve cash in order to get some of their leverage ratios down. Has very few prospects. Questions if the dividend would be sustainable.

14.2% dividend yield is about to be cut. They continue to have ferocious competition in the land-line business. If they can stabilize the cash flow after cutting the dividend and if they can keep enough of the growth stuff to offset the landline reduction, then maybe it would be ok for a 3 year hold.

14.3% yield which is a warning sign. You may get the dividend payment or you may have to face a cut, at which point in time the stock would probably trend lower. Their businesses are mostly in Europe and Africa.

Still has its dividend and slight fiscal growth. He would like to see them cut dividend and build balance sheet. In next two or three years they will see some real upside.

10.2% dividend. There are very high dividend opportunities in Europe but he cautions that when you see extremely high dividends (8+%) the market does not believe these yields are sustainable. They might have to cut their dividend. Prefers Vodaphone, which he owns. He warns that maybe Europe could start taxing telecom utilities

A lot of telecoms in Europe pay a better dividend than Canadian ones. Doesn't like the sector over the long term. A lot of capital expenditure they have to go through. Margins are being eroded.