I dont see how you all think this is such great news. They lied about the short term debt, they actually have $220m due in the next 3 months, not $150m.
They are borrowing money from fund managers, so obviously the company cant even get a loan from a bank.
They are being FORCED to sell Stella which means that they prob wont get full value for it and, seeing as the board has already been caught in several lies, who knows what the real state of the Stella business even is.
Dont count your chickens, we'll see what happens after due dilligence has been done.
Either way, the company's reputation has been shot to pieces, no real investor (insto's) would want to touch this stock after what has happened. Dont be surprised if the selling continues....
MFS
mfs limited
