you decide to believe it or not, page-63

look- i really am in a conundrum.

as i posted earlier, i said i got a hot tip that the one off payment to TLS from NBN is 16 billion instead of 11 billion.
well that is not really the case. the 16 billion includes the ongoing payments after 2020 to TLS for maintenance.

there is huge confusion out there even with fund analysts. the 1 billion indexed is pre tax, so that throws a huge spanner into the works.

also, TPG will take 4 billion from TLS once fully operational in the cities. the other 50 % of mobile TLS is safe as it is not in capital cities.

now, the loss of fixed line to NBN is about 17.4 billion and they end up with 16 less 4 which equates to 12 billion.
so that is a hit of 5.4 billion compared to market cap which equates to about $1 per share.

in other words the SP of TLS should be closer to $3.50.

if i can't get to the nitty gritty of this dilemma, then who can?

cheers crazypunter