What does it all mean?

Trying to make some sense of this "strategic alliance", maybe both NEN and MEO holders can comment please.

* There are those MEO shareholders who have welcomed the merger and hope it will move the company forward.
* So why has there been little movement with the MEO projects and how long has this been happening and why?
* Some are against the deal asking what has NEN to offer other than cash.
* Some wanted the MEO CEO out which is happening. Why the problem?
* Some NEN holders see this as a way forward, probably because there are few alternatives.
* Others wanted to be rid of NEN management which isn't really happening.
* Is it a play to see off the EVO bid and save their own skin.
* If the EVO bid had not taken place would NEN have come up with this strategy
* If the Evoworld takeover is defeated and then MEO holders vote against the merger - then what?
* MEO seem to have a lot on the table and apparently the merged group have more in the pipeline.

The question is does/can this add value and over what timeframe.

There are probably many more questions but time and motivation restricts....!!!

So what do you think? Good, bad, ugly or nothing much has changed?