The Directors are following the top 3 big holders who are happy...

The Directors are following the top 3 big holders who are happy to consider a serious bid and crystallize a profit. TCI is 30% but there are others such as the remaining Brookfield interest, who see this as a purely commercial consideration.
Make no mistake - they are selling IFN short but I am guessing they need a win as badly as others in the current climate.
This is a golden opportunity for anyone buying under $1. Whether there is a buyer willing to put that capital on the table is unclear.
I would not be surprised if Brookfield comes back. If they can see a dog like Virgin giving value then IFN is a no-brainer.