I added 2,000 today, moving up to 17,000 shares. I agree with...

I added 2,000 today, moving up to 17,000 shares. I agree with Ralom that the recent decline is due to disappointment about the retention of Infraco. As he points out, this asset is being retained for now, but might yet be sold in the medium term…at our discretion. The value of the asset hasn’t dropped, and the Vocus indicative bid for TPG’s assets may be encouraging as to what the value of Infraco might actually be. TLS was in full control of that decision, and has clearly retained Infraco for a reason. With a fully franked yield solidly over 4%, and the telecommunications industry enjoying more favourable headwinds than it has for a long time, I feel TLS should be bought below $4. So I did!