In terms of management competency, personally I'd also be...

In terms of management competency, personally I'd also be backing Vocus over TPG also. Yes TPG have a smart operator in Teoh, but we have proven astute performers in Spenceley, Bowen and Horth who continue to navigate a smart course by owning infrastructure and vast customer bases across Telco and utilities.

Although Montgomery preaches long-term value investment, their record indicated they move in and out of stocks often. It is also within the realm of possibility that they talk VOC down in an effort to buy back in a cheaper price, don't be surprised to see them spruiking VOC at a later date. They do have history in this regard.