So if kea and meo are both strapped for cash how does that actually work??? This will be for small equity in a much larger producing field in exchange for a major slice of meo.
This is a very clever move by meo and UBS as it puts eni on notice that eni is potentially on the verge of another player gaining significant control of ts ,or end. eni have just under four weeks to work out their intentions with regards to heron and Blackwood. The safe bet for eni is to ditch heron and keep Blackwood. eni will be talking quietly to shell re selling es and UBS will be talking to eni re ts and highlighting item 4 special business that could (will?) result in 25% of meo being sold to another entity without having to go back to the market post the agm. 25% would almost certainly get a seat on the meo board and therefore heavily influence any ts deal.
adl
MEO Price at posting:
3.4¢ Sentiment: Buy Disclosure: Held
