relax people

i think some people here are taking macquarie's "valuation" of centro as between 0 - 50c too seriously.

this hugely contradicts the statements made by glenn rufrano and the attitude of the banks.

centro knocked back offers at about $1 as significantly undervaluing the company. both centro and the banks agree that assets will not be sold unless it realises value for the company. it's increasingly obvious the banks will give centro all the time they need to sell assets and refinance the debt on favourable terms, a 1 year extension is now being mulled.

so how then could centro be worth 0 - 50c???

what struck me the most about monday's announcement was the final sentence:

"The Board will make decisions on its options in the best interests of SHAREHOLDERS and at the
appropriate times and will inform the market accordingly"


that's an extremely powerful statement to make.