Ann: Annual Report to Shareholders, page-4

What value has been created in EMC? The business has demonstrated that it cannot stand on its own two feet and that it is completely unsustainable, it’s been running massive losses for years (robbing Peter to pay Paul for projects) and I firmly maintain will be the catalyst for the demise of CCE if they retain it. 

The comment that significant value has been created in the past year is complete, total and utter bullshit. If that were the case, why three months ago did the board decide to off load it for nothing, in-fact at the time was going to pay someone to take it off their hands. Something is only of value if the counter party is prepared to pay for it.

I suppose we will see, the deadline for the transaction was yesterday. I would not be at all surprised if it’s all fallen over, the language has completely changed.