It looks like the Divestees intend to defy the Australian...

It looks like the Divestees intend to defy the Australian Treasury.

None/minimal sold on-market and, if a trade sale was in the works, it would have happened at the latest a week ago, to allow the tidying up of any loose ends.

While the share price has declined somewhat, recent very low volumes suggest buyer scepticism and a widely shared view the price is set to go lower under selling pressure.

I conjecture that the Divestees will complain of 'Sovereign Risk' when Treasury quite properly seizes their shareholding and gesture at the current 3c price when Treasury puts the shares on the market or has a trade sale and sells to very low bids.

When they take the matter to court - a certainty, further delaying - the Judge will take a very dim view of their behaviour and ask difficult questions like, why did you not contest the order 60 days earlier? and Well, what did your expect?

The Judge will also ask Counsel what advice they offered the Divestees that has led them to this juncture. Watch Counsel squirm over that.

Many parties have an interest in this divestiture process, like the US, EU, South Korean, Japanese and Chinese governments, their security services and industry. A tasty prejudice-reinforcing story for the media as well.

I have never seen Treasury execute a Divestiture order, so this action likely sets a precedent too.

Ash