The Telstra board and executive management team made a grave mistake by submitting a non compliant bid in the first place and they played directly into the hands of the shorters. At the very least they could have put in a compliant bid albeit at a high price and not minimise the damage to the SP.
In fact I would say the TLS board were perhaps reckless. It's a good thing that the chairman and executive team have been turned over to claw back some credibility.
All power to Thodey - he is getting some easy early wins on the board.
Cheers
BF
shorters, page-21
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Last
$4.03 |
Change
0.050(1.26%) |
Mkt cap ! $46.56B | |||
| Open | High | Low | Value | Volume |
| $3.98 | $4.04 | $3.96 | $83.94M | 20.90M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 10500 | $4.02 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.03 | 109606 | 17 |
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| Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
| TLS (ASX) Chart |