From "The Australian" website about CBA:
""THE Commonwealth Bank left no doubt as to whom it considers to be responsible for the highly embarrassing shemozzle over its on-off-on $2 billion capital raising.
The bank says that Merrill Lynch signed an agreement that it would advise intending subscribers of expected higher loss provisions -- effectively a profit downgrade -- but failed to do so. The CBA was therefore forced to scrap the issue and accept an offer from UBS to raise the same amount through an underwritten share placement at a lower price.
To drive home the point, CBA bluntly said it was "disappointed" that Merrill Lynch "did not meet its obligations".
The ASX wasn't prepared to be so forthright. It censored CBA's statement by omitting, in the version it released to the market, the bank's claim that Merrill Lynch failed to meet its obligations and, by inference, was completely responsible for the stuff up. "
( story continues at Australian website )
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The remarkable and surprising thing here is the fourth paragraph. The ASX "censors" CBA's market announcement !! How ? With liquid paper ? Sending it back and demanding a re-draft ?
If companies seek to make announcements then the ASX should publish them.
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