With CNP it is simple maths. There will be $100m left after all the assets are gone. They will still have liabilities exceeding $100m. As I see it there will be nothing left.
I posted this possibility a long time ago when I exited CNP. I copped a lot of flack at the time. I was asked "why I hated CNP". I replied then that it wasn't hate it was cold hard indisputable facts.
Simply, if you owe more than you own you are up the proverbial creek. Surely some got the message when the banks started selling their interest at a 50% discount.
So dont cry over spilt milk. Don't shoot the messenger.If you think this message and the message from Defab is wrong then buy up big and gloat later. I'll apologise and say I made a mistake if you turn end up in front.
As Defab said, CER has carried CNP for too long now so dont expect CER to help this time. The cash cow is off to better pastures, finally.
CNP Price at posting:
5.4¢ Sentiment: None Disclosure: Not Held
