Thanks Zacc for your comments
Interestingly we may get some good news tomorrow following on from the announcement BCM (Babcock Capital Management) will make.
Fee for management rights?? and possible sale of stake in BCM?? More funds to reduce debt??
See post from BCM thread
Apparently some confusion, ann will be before market open tomorrow. I have no doubt it will be related to the outcome of the discussions re BCM buying out the management rights from BNB as previously flagged to be voted on at the AGM end of November (read previous announcements) . Hopefully a fair price has been agreed if no deal is done it doesn’t really matter but it does mean BCM can reactivate the buyback. I also wouldn’t be surprised if BCM have agreed to buy BNB’s 8% stake in Eircom as I’m sure given BNB’s debt position they are a seller of all non core assets.
BNB
babcock & brown limited
