I don't think you've over looked anything. It's a pretty good...

I don't think you've over looked anything. It's a pretty good summation of where things are at for VTG.

Based on book and intrinsic value it does look well under priced.

Despite being a well run business with the safety net of cash in the bank it hasn't really excited investors over the past 4-5 years.

I imagine that the unknowns surrounding the finalisation of the Telstra deal and the potential for future growth in the SHAW business will continue to impede share price growth in the short to mid term.