I sold mine today too. Free up some cash to pick up whatever remnants remain after this latest Russian/Ukraine crisis sell out.
After some thought, I reckon $22 is all we are gonna be offered. Very very unlikely a competing offer will come to fruition given the blocking stake of 78%+ held by Hochtief. Not very attractive for other potential acquirers.
If institutions sell, then likely they will hit the requisite 90%. So probably better to collect the cash now and put it to better use.
