You are correct Grant. I did not know about the Li Ka Shing...

You are correct Grant. I did not know about the Li Ka Shing angle, but it would make sense as the float was undersubscribed, in addition to being valued significantly lower than when the float was first mooted around 18 months before (around the float of China Mobile).

I would imagine the Li Ka Shing purchase would be a useful quid pro quo for him in regards to future China access for Asia Global Crossing (after all, his partners in that, Singapore Technologies, would certainly not have a look in by themselves).

Back to ATC, I think that the Shanghai opp is a good one. I also think that memebers of the board know the writing is on the wall for the majority of them.