If you are to cherry pick, you missed these comments which need...

If you are to cherry pick, you missed these comments which need to be placed into the open.

Limited value
Jonathan Rochford of debt fund Narrow Road Capital said the debt trading suggested there was limited value in the equity of the company.

"The price of the debt is so low, investors are buying it on the expectation there will be a debt-for-equity swap. Shareholders should expect massive dilution," said Mr Rochford, who previously worked at Commonwealth Bank managing and trading distressed assets.

"The writedown earlier this year of $876 million of goodwill relating to its UK acquisition placed it in severe financial stress"