he relentless selling down of CNP is ridiculous. I dont think Aussie banks would close CNP down, but we dont know the yanks agenda.
Yes TOTALLY agree US banks are screwed atm and people said they won't let CNP go down. But they let lehman bros go down. CNP's is mostly held in the US. I agree if it was all up to aussie lenders I think Id be confident but more of it is US lends who are all struggling. I don't think they will call in loans but will do a debit for equity swap that screw shareholders over bad. They will not care though as US banks are loooking to improve their bottom line. They can put a good spin on it too cause they can say that they 'Saved the company' but not mention they screwed the shareholders at the time and to be honest I don't think anyone other then the shareholders will care. Certainly not their staff who get to keep their jobs rather then risk loosing it with CNP in administration.
CNP Price at posting:
7.7¢ Sentiment: None Disclosure: Not Held
