I don’t think we can view this as an ordinary takeover, cause...

I don’t think we can view this as an ordinary takeover, cause Telstra has all the leverages. Unless the master agreement says otherwise, but of course they Telstra can just simply wait until the agreement expires and not renew it.

On the other hand, VTG had never been successful outside its core and highly profitable ICT business. When the dust settles, VTG will be much smaller than it is now with more risks and uncertainties. VTG sp went from $5 to well below $1 over last 5 years, unfortunately I chose to ignore the obvious.

Current sp indicates that investors are expecting something positive and when it’s not, a bloodbath I afraid.