Bear in mind that part of Teoh's strategy involves Vphone bringing $2Bn (by my memory...) of losses into the merged entity ... hence the 51% Vodaphone holding, to keep the loss entitlement with the merged entity. Almost any other scenario would see these losses written off without benefit whereas the merger as planned would basically make the first $2Bn of profit tax free. This is obviously a significant consideration for all parties, including shareholders.
Nice late spike today!
BB.
TPM Price at posting:
$7.09 Sentiment: Hold Disclosure: Held
