Honda and XM
August 18, 2006
Rumors abound relating to the Honda filing that took place yesterday, and whetehr it relates to Honda taking a large position in XM Satellite Radio.
More likely than not, the filing related to "covertibles" that Honda had, and that they are simply filing for the authorization to convert them into shares.
Honda sold off most of their position previously, and there are several investment strategies that Honda could have employed regarding their position in XM.
We would tend to lean away from the rumor of Honda buying a large stake into XM, and would lean closer to the theory that this is simply part of an overall investment strategy by Honda.
We would suggest that interested investors contact Investor Relations at XM if they have questions relating to the Honda filing.
8/18/2006 10:06:00 AM
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