volcanoYou may have something in that comment......if TLS are in...

volcano
You may have something in that comment......if TLS are in a rush to get this change done, then they don't want to mess with staff in 100 branches (plus renogotiating leases etc). On the surface it would make sense for TLS to essentially 'take over' the entire ICT business by paying for stores, F&F, staff, leases etc etc and possibly then adding the non-vita stores to that entity.

At a minimum, they would not want those (experienced) staff walking out, and they would want to maintain the leases/relationships with landlords (my understanding is that Vita are quite brutal in shutting down underperforming stores so would hope that TLS would want to keep most of the vita stores).

It might be too early for an indication by this Friday (results day), but hopefully they are moving quickly given the uncertainty for employees (and us shareholders).

I am (pleasantly) surprised by the price action, but perhaps the market realises that vita have a decent asset which is more valuable given the scale of their network.