The news release has it all wrong as usual. Probably because that is what CNP want to feed to the market. CNP is probably "history" and that is the way it should be. They have negative equity. Facts are they are broke and have been so for some time.Their main asset is a holding in CER. CER on the other hand is financially sound and there is no valid reason why it should not continue to operate as a property owner. Just because a major shareholder is busted is no reason to say that the deal must go ahead or CER is busted too.
Why cant the CER board stand up and be counted. If the deal is voted down then there will be a crash in the CER SP because of the association. That will be a buy signal for me. I'll be backing my judgement, not backing that of some ill informed journalist.
The news release has it all wrong as usual. Probably because...
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