With respect, I disagree. Telstra sold its interest in CDR to Alchemy Investments which is controlled cby B&B.
History dictates that CDR was privatised by Telstra back in 1998 (as a result of selling out of its KTS business). Plessey came on board at that time, with Telstra (still a shareholder). John Vaz was MD at the time, but left to join Ericsson's Ensterprise business which subsequently became Damovo.
In 2000, CDR was floated.
In April 2003, RSL-Com was backed into CDR. Babcock & Brown were major backers of Adrian Coote and of RSL-Com during the time when its parent was in administration in the States.
During 2003, B&B increased its effective influence at CDR resulting in the Board changes last August (when a B&B nominee was installed as Chair).
A B&B Director, in particular, has been active at CDR over the last 12 months and has been instrumental in looking at such acquisition opportunities as UEC, Damovo and most recently, Panaseer.
Parts of Panaseer's former business is now owned by Longreach, whose Executive Chairman used to be a Director of TMS at the same time when Hartnell was TMS' Chair. Hartnell's firm also acts for B&B and through the likes of Investec Wentworth, the group is well connected.
CDR Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
