how come pwt isn't 2c??, page-3

What a joke! The original shareholders put in hundreds of millions to build a national network and now Williams hand control to a bunch of local failures like Cousins who quit Optus Vision years ago allegedly because his wife was ill. They must have paid around $25 million for the Williams share when Powertel had a peak share value of $3 billion in 2000.

Now they intend a rights issue that probably none of the existing shareholders will subscribe to and end up owning 3 billion shares and 90% ownership for around $40 million.

So each PWT share surely is worth $40 million divided by 3 billion shares which is 1.33c

So how come the shares are still trading above 6c???? There's absolutely no logic.