UBS are AFs No 1 banker, they just took over some $5B in junk bonds from CS that are owed by FMG, being AFs No 1 lender.
CS was taken over by UBS last week.
Could UBS be acting as AFs broker trustee to enable them to buy above the bid?
Where is AFs sub holder notices, none issued, looks like his bid is dying unless he goes up to 160c as I think he will.
BHP need not enter yet as AF not getting many sells here unless through broker trustees.
Once he gets to 30% around 160c they may enter to force him to 180-200 imho & burn all his cash like he did with black hole Noront.
Looks like increased bids coming imho.
MCR Price at posting:
$1.51 Sentiment: Buy Disclosure: Not Held
