new offer?, page-6

You're correct jfc. The Roslyndale rights issue offer is 1.5 shares for each one held at 1c per share. I had it wrong.

Nonetheless, major shareholders are considering 2.42c per share and 3c per share offers for their equity. One wonders why the 9c figure on market is holding up without some serious manipulation. Looks like some big players got caught holding stock and need to push the price up before they exit.

There's no way to my mind that any other offer much above 3c is possible and while the shares are trading on market at 9c it will be only Williams willing to sell at 3c.

The thing that peeves me is that around $100m of NSW Government money has been lost and the government will not spend a penny more to prop up Powertel. They have written the value of the investment off and will do nothing to stop the carpetbaggers making a killing at taxpayers expense.