Problem is their always seemed to be a gentleman's agreement in the relationship , before the hard nosed corporate advisers got involved. Before anyone starts, I do have a full working knowledge of valuation and financing. I also understand the model of valuation for certain ventures can be much different depending on how well the story is sold and marketed. So we can argue the toss on this later.
The ace in the hole was the , what I believe genuine, want of the TSI team to promote the interest and be eventually part of team TSN. Has the trust been broken and can it be repaired? I hope so, or else I have done a big chunk of doe.
Regardless, Mohnish himself probably stood to make more the cheaper we got TSI. It is my belief he is a loyal fellow and will not do over his Citi mates regardless of how it fills his wallet. Whatever happens from here he has my full respect.
I suggest Mohnish (not that you need my advice), take some time, gather your thoughts and put them hard at the TSN board. I hope it can be resolved, but maybe a public forum is not the place for what needs to happen.
Sincerely all the very best.
Cheers
TSN Price at posting:
1.0¢ Sentiment: Hold Disclosure: Held
