why is pwt going up??, page-5

DTU had a preferential first right to buy Williams share of Powertel and vice versa, before an outside buyer could be accepted. DTU has forgone that right, but that would be because the DTU power companies can no longer justify putting cash into Powertel.

Yet DTU looks like being screwed by the rights issue. They won't put money in to a rights issue and will end up being reduced from 30% to 8%. The DTU vote would be essential to Roslyndale to pass the rights issue resolution but DTU would have no need to increase their position to block a special resolution just by themselves.

Maybe it's the losing syndicate that competed with Roslyndale trying to make up ground. If they could get DTU onside they could block Roslyndale's rights issue (that rights issue is a clear subterfuge to get 90% control and force a full takeover without pushing the price up). Very skulldugerous in my view.

On the other hand, if the other bidders block the rights issue with DTU, Roslyndale would be in an awkward position having bought Willliams' 45% but trapped.

It could also be Roslyndale trying to increase there share over 50% to get normal functional control and achieve board domination.