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What does MM think about MPL’s cyber-attack?

Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.

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What does MM think about MPL’s cyber-attack?

Hi James & Team Following the cyber attack on Medibank - Can you comment on the impact this will have on it's share price. Would you recommend to sell. regards

Answer

Hi Deb,

At the time of answering your question we are devoid of any concrete details around the depth and potential impact of the said action, the stocks in suspense until the 26th of October as the matter gets investigated by the Australian Federal Police.

At this stage its said that Medibank have been contacted by a criminal claiming to have stolen 200GB of data having provided 100 policies of proof of the theft.

Its unlikely to be good for the MPL share price but I would be inclined to wait until more facts become apparent before jumping to conclusions plus of course we have no choice until next Wednesday. Short term share price reactions to events like this can actually create better buying opportunities than selling ones.

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Medibank (MBL)
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