CUS 0.00% 3.7¢ copper search limited

to meet wih rba soon, page-22

  1. 142 Posts.
    Funny situation. Fintronics, in the interests of the company and its shareholders, refuses to go ahead with the purchase of Tianjin ATM Company, as they were not satisfied with the due diligence review.

    Customers, as a significant shareholder in Fintronics (24%), concludes that its actually good enough for its own shareholders, and purchases the same ATM company (For a lower price, even with an extra 150 ATMs).

    I reckon Customers have resigned themselves to the 03/2009 date for direct charging (which might make good business sense) and have realised that 2008 will be a long and boring year, unless they can generate interest in the company. They will try to do this by being more aggressive with their Chinese growth plans.

    I think thats why they didnt let Fintronics go ahead with the purchase.
 
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