WBC are taking the cream - branches, name and new business, and...

WBC are taking the cream - branches, name and new business, and leaving RHG shareholders with the existing asset book. Leaving the funding problems in the laps of current shareholders.
Bearing in mind it was funding of this asset book that started the problems in the first place it would seem shareholders are left in a precarious situation.
No doubt the WBC deal is the first of two pars, the second being to bundle up the loan book and find a buyer. Which shouldn't be too hard, at the right price.
On the other hand, the WBC announcement may flush out a buyer for the whole package?
Either way, anyone wanting a punt on RHG at the moment is in for a rocky ride.