Fluffy - I don't mind TEN taking on debt as long as they can leverage that debt to increase shareholder value. Note that they are in a mature industry and debt is the only method that they have of increasing value. I see three possible scenarios at this juncture noting the current capital structure and share price:
1. Build a good strategy 2. An equity LBO - given the current capital structure it is a prime candidate the equity firm implement the appropriate strategy 3. An MBO - with Lachlan being guided by Rupert.
Anyway I think that we have seen the low and technically there is a possible move up to around 50 cents.
Let's see what happens.
TEN Price at posting:
31.5¢ Sentiment: None Disclosure: Held
