Terryl, exactly, not very good business is it, and with so little cash in their kitty ! This is the question their holders need to take up with them , however essentially this is looking like the best of a very bad situation for them.
The bey best outcome for MSMN is to try and recoup the losses in an k creasing MEO share price,which they can offload their holding if they so wish, or of course they can sit on their books as an asset, which will be increasing,
The situation is pretty clear to me.... The release from them late Friday after close wothdrawing the conditions and raising the swap. changed this whole thing to one of a total recognition from them that they were not going to get control of MEO Australia, and in such a way it sounded like a good spin for their shareholders.....
They will be nothing more than a 1 -2 % shareholder in my view, so they can join me and my family then except of course We didn't have to spend 640 k in costs to ge there...
MEO Price at posting:
1.9¢ Sentiment: Buy Disclosure: Held