Lakshmi,Firstly I am a holder.You are right, CNP are looking for...

Lakshmi,

Firstly I am a holder.

You are right, CNP are looking for something, whether it's a better deal or not remains to be seen :-)

Unfortunately, with the (mis)information out in the market place it has necessitated a lot of reading between the lines. As a banker, you would need to justify your existence if you haven't made provisions for Centro going belly up and so far annual reports from the major banks have not quite done that either in whole or in part. I posted yesterday, that if the banks call it all in after September 30 then in December, there is a case to believe that they nkew they would have to do this.

Thereby leaving them open to scrutiny as to why they have not booked this provision earlier. I think if this happened we'd have a couple of new CEO's in the banking sector.

Also, provisions booked so far in the banking sector are largely pre-emptive and may be written back to the P/L next year. A provision for Centro's debts (2.3bill to Aussie banks) is mammoth and won't be written back any time soon if Centro goes to the wall. There will only be a carcass left.