Ann: TSN Business Update on TSI India, page-12

Are you thinking they are informing shareholders of an improved TSI for the purpose of a sell out at a higher point so they can claim they did not bail at a low thus maintaining shareholder value....

They can give up first rights at any time and be done with it, it will hurt no matter when they do it.

Or keep the dream alive to prop SP while they build local business and then say we don't need TSI and cut them loose once locals business has grown to size X....