Ann: IPH: IPH announces acquisition of a stake in Xenith IP Group, page-9

Yes, it's been another disaster for me. I think I brought my original stake in 2016 for about $3.50 then doubled down in the low 2s.

Consolidation is the answer. Hard to know what is going on here but neither XIP nor QIP seem to like the team at IPH very much. There's definitely not room for 3 players and the ACCC won't allow one.

Perhaps it is just sour grapes and IPH are hoping to scuttle the merger but at $33m debt funded and after paying about a 30% premium for their block, you'd reckon they have something more productive in mind.

Since they haven't been back to QIP, one would have to think XIP is the target?

Anyway, whatever it is, I hope it starts with a 2!