banks bidders traders, page-20

Firstly, as insiders th banks can't invest in CNP. Secondly, if they do own CNP shares they must be at hands length to any Centro deal - however this would be very hard to do in practice.

Thirdly, the CNP sp is of no concern to the banks as the "new owner" would have to take on the debts too. It might be possible for a "new owner" to separate some assets to pay the banks back as part of the take up deal, however the "new owner" would have to strike a price for Centro and Rufarno is not ready to give away Centro for 90c - which is what has been alluded to by AFR, etc.

At this point it is more than likely that CNP shares are worth more that 90c - even if Centro in its current form does not survive, hence they are worth buying now at anything below that number.

Finally, a deadline of April 30 is looming either way, just that now it seems more likely to be positive than negative from a sp point of view.

IMO of course....