for those who know, page-3

zero

assets $15.6bn
liabilities $13.1bn
equity $2.5bn

equity would be a bookvalue ie what the company paid for the assets

there is rumour that the people doing the buying have overpaid for assets in order to get bonuses

I'd say that is probably fairly correct.

You may find then that in addition to being overpriced, the assets will be being sold into a buyers market

at the moment there are a lot of companies trying to fix up balance sheets by selling assets

I would therefore say that if the assets were to be sold off they would not be sold at the price on the books

You would probably see at least a 15% discount

16% of $15.6 bn is $2.5bn

Equity is $2.5

so if the assets were sold at anything more than a 16% discount and you'd have zero equity

If the assets could be sold for a discount of 10%, you'd get $1 bn of equity and that would get you $3