i dont get it, page-9

Most likely yes it would be simple - but keep in mind there was the xmas and the new year break - loss of a week.
The CNP executive may have worked through the break, but perhaps not all staff - and certainly not staff who work for other companies . Simply put the people they would need to talk to would be away.

Its a common feature from what I have seen in the business world that business processes that need sign off from more than 3 people grind to a halt until after Australia Day - someone is always away....

So write off pretty much the last 2 weeks - up until the start of this week.

Now CNP could sell the biggest thing at a huge loss to solve the problem fast - but not in the shareholders best interest - or they could spend a few weeks sorting out their assets - which ones they want - talking to buyers etc etc.

Basically getting potential buyers to compete for the same asset is what they would want to do.

It would be the wrong thing to do to panic sell assets to the first offer.

From managements view they have another month - heaps of time - and that may be extended if they can convince lenders it is in their best interest to wait a bit longer to get a better deal.

As long as the lenders are covered they are earning interest anyway.


"The stock market is a device that moves wealth from the impatient to the patient"