centro and rubicon europe, page-4

Did ML say WHY they thought these two companies were on the verge of Bankruptcy?

Seriously, these guys can say whatever they want and they are no wiser on the situation than your average savvy investor. Do they know better than the banks that have given Centro another 6 months to sort out their gearing levels? Do they know better than the institution that refinanced some of this debt (all $300m worth) till 2010.

Remember, the banks are investors just like us. If they thought Centro was a no hoper, they would have pulled the plug a long time ago.

Before ML, we had Macquarie price the group at between 0 to 50 cents.

This company is going to be around for a very long time. Bring on the upcoming and imminent asset sales and then listen to the change of tune from all the sceptics.