Rewind- regarding your comments below, you should really have a look at the report. They are showing:
1. Their 36% stake in Allco HIT at $123M. Current value of all of HIT is $10M - write off of $120M to come.
2. Their 34.8% stake in AEP at $191M. Current value of all of AEP is $163M - write off of $134M to come.
So thats $250M less of the maximum potential $900M before we even get into their other $5Bn in investments....
Write downs of more than $2Bn this year is almost inevitable as far as I can see.
"The 1.5bn is the goodwill and management rights being written off. I am not too worried about that.
Any write offs above and beyond would be worrying. However, some of those will be offset against other profits e.g. Techapi wind farm sale.
Rewind- regarding your comments below, you should really have a...
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