Merchants are very successful operators, I just would like to see Joanna getting some equity investors interested and take her shareholding that way. Or just let Merchants get on with it and she just stays as a silent major holder.
Surely, she could not be so naive as to look this gifthorse (merchant funds and MW) in the mouth.?
She cannot expect investors to want to keep doing the exact same thing, and expect a different result.
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