TMT now has a very large target on its back, page-469

Completely agree, RCF has no interest in owning 100% of TMT or AVL for that matter. What they are interested in and quite rightly so is maximising the return of the investment the funds they manage made into TMT and AVL for both the investors in their fund and it then naturally follows for themselves in the form of performance fees payable to the manager. How they plan on doing this still remains the $500 million question. We all continue to watch this space.