The 2 ASX announcements today were not positive for CNP.
CBA has reduced its holding from 60.6m (7.18%) to 49m (5.81%), suprising given they have held on for so long then sell at these prices, not a good sign. Also floods the market with more script.
Sale of Gold Coast property also very disappointing given it was only a small shopping centre it sold at a 9.9% discount to book value. Remember Australian values should have been holding up better than US, so not a good result if larger Australian centres sell for similiar discounts.
Unfortunately neither of these announcements strengthen CNP situation.
Please do you own research & I am off for a weeks holiday & will only post infrequently.
Regards
Buffett
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