Yep. Stokes has done it again. Selling the co-op farm back to...

Yep. Stokes has done it again. Selling the co-op farm back to shareholders at a nice premium, but keeping control. He can't see the long-term value in his old-world media assets so he's selling them off to mum and dads (or their super funds) and keeping the good bits for him-self (debt free).

Yet another done deal with the independent directors - who probably get a pay rise after the dust settles and find themselves managing a company 4 times the size. Remember boys interest rates are only going one way in the medium term...

SVW recently tried pulling the 'proposal' thing with Engin (ENG) minority shareholders [on a much-much smaller scale] - but in the end SVW pulled the plug on the deal/meeting - because the minorities we're not going to vote in favour. So there is a chance the WAN 'proposal' wont get up - but with the fund managers and bankers on board - it will be very difficult for WAN minority holders to make a stand!

Good-luck.

mmmmgus