the Oz banks need to get behind Centro fully rather than looking one or two months ahead with these very short extensions. Giving Centro until the end of September like the US counterparts will benefit the banks and everyone else also. Constantly pushing for a quick fix will only result in the least profitable outcome for everyone except the buyers. Worst case would be Centro throwing in the towel and saying to the Oz banks 'go for it and liquidate'. Then they will be looking at a mountain of work and the daunting task of sorting out a huge mess with a time frame of many years.
The Oz banks need to get realistic and extend until September, imho. More to be gained all round.
CNP Price at posting:
0.0¢ Sentiment: ST Buy Disclosure: Held
