UCL (ouch)
They paid more than $A20m from memory in 2001 (might have been 2000) for an interest in a Philippines telco and it went straight down the gurgler without apparently touching the sides. They did a 20c placement when the shares were around 28c with a free option which was worth around 8c and from that moment on both the shares and options went more or less straight down to nothing.
How do they get away with this sort of deal?
Regards
