Actually the mistake CNP made was not looking at individual asset sales. I am very pleased that they have corrected this. The reason I say this should be obvious if you look at selling off your assets the pool of buyers is very limited the more expensive they become.
The buyers know this too so they will never without the added competition give you any decent bids. But when you reduce the asset size and therefore sale prices your buyer pool increases dramatically. Not only that but you start some genuine competition.
Assets like the galleria will get a lot of interest which will make the vultures now have to pay up. Personally I don't think asset sales are far away. It wouldn't surprise me to hear something soon now that they have changed strategies.
BTW guys an update could be a great thing. If they can tell the market they have received X number of serious bids it will do wonders for SP. Especially if they were in the middle of negotiations/consideration. Anyway guy’s good luck to holders but really the above is real estate 101.
CNP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
