Perhaps the marker is still not seeing value in CER due to
1) nervousness that banks may change their minds come 15 Jan
2) nervousness that CNP share holders may not approve the D2E swap, seeing the massive dilution
3) property evaluations still falling
4) CER still has a lot of debt, in particular there's another 750mil due in Dec 09
5) negative sentiment
Perhaps the marker is still not seeing value in CER due to 1)...
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