As the chief executive of a communication software company, Oscar Werner knows the value of sending a clear message. Yet his calm response to a short-seller attack at Stockholm-listed Sinch may only confuse shareholders.
” the allegations in Ningi’s report, and partly blamed its receivables accounting on glitches from recent acquisitions. The group reckons that Sinch can dispel any fears through its strong results, and profitable cash flow.
However, Sinch, worth as much as $15.8 billion last year, is still down by over a third in the last two days. It doesn’t help that the group, whose tools help businesses communicate with consumers via text message, voice and video, also warned shareholders on Monday that a “reassessment” of historic costs would hit its second-quarter results by 162 million Swedish crowns. Given the stock reaction, Werner clearly needs to do more. An independent review of Sinch’s books would be a start.
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