Problem with the situation that CNP finds itself in, and no doubt it has already been mentioned on this forum, is that there are just too many banks owed money, and it will only take one of the secured lenders from overseas to call in the loan, and it's all over...doubt any overseas banks will care too much about any aussie banks, or any other for that matter ....unless of course the other banks are willing to pay them out to keep CNP afloat...but I can't see ANY bank throwing good money after bad.
As for asset sales, well why would anyone buy now when you could wait for the empire to fall over, and just pick at the carcass....seems that there will be no shortage of quality assets coming onto markets as debt-stricken companies worldwide fold in the coming months, so there would be no need to rush in now.
CNP have been given the chance to reduce their debt and have simply been unable to, to date....can't see how that will change now.
CNP Price at posting:
10.5¢ Sentiment: None Disclosure: Not Held
