trading halt, page-26

It does sound feasible - a takeover. and makes more sense to buyout pie if there was genuine interest. the question is, whether or not pie are overstating how successful the trials were. another thing, they should have gone to market for funds before the no deal was decided. It was a big risk on their (PIE management's)part and clearly management totally incorrectly assessed the commitment to negotiations of the NZ Telco. How can you invest all that money into a region, and not establish some sort of business relationship in the process? Was the issue of funding did discussed at the AGM? From what I was told the major challenge for pie was forming itself and subsequent implementation within the TELCO arena.
One more point. TNZ have been exposed to the technology, and are going it alone. It smells a little putrid that they have benefited pie's Intellectual Product Knowledge and down the track will use the idea or reinvent it in another form. Surely, that pushes ethical boundaries. IF, a capital raise occurs and TNZ take up the allotment, that will validate the takeover argument.