powertel to be taken over, page-5

86,

That broker would have been CSFB.

PWT has been slated as a potential consolidation play for ~2 years now (variously by Macquarie, JB Were, UBS Warburg and CSFB).

The Downtown Utilities consortium includes in its membership Citipower which is now controlled by Cheung Kong Holdings (part of the wider Hutchison Whampoa grouping).

Earlier this week, Hutchison Whampoa exited from its longterm DOW shareholding. So, the prospects are no longer bright for Hutchison moving (via Citipower) on PWT.

Why?

Because of its minority stake in a large minority shareholder.

Better then for Hutchison Whampoa (et al) to wait until Williams falls over in the States, and to pick over the remains (including PWT) via a firesale.

In much the same breath, with Aquila exiting from the Australian market, UEC would also be slated for sale (as has been the case ever since Peter McGrath first came on board).