Ann: Vonex Signs Binding HOA with More - Telco Partner of CBA, page-5

Yep not too concerned about the short term price movements here. Looks like regal want some tax loss selling and are happy to subdue SP for it.

On the partnership front, I think this is a great bridge to non dilutive acquisitions - might even be a back door listing for More if they wanted to. They pay for capital expenses and then we can outline some revenue synergies. I think it will just be Melb based as both More & Tangerine are Melb based, we already have a lot of coverage over Australia so think starting to target certain markets specifically is a great step forward.

I can see this being great value in FY23 if all goals continue to be met and we find a few more big partnerships like this one.