MTF was formed by car dealers, who at the time could not arrange finance for their customers' via finance companies.
In some ways the business may have run its course, and a lot of those dealers would like their capital out.
I think "the noise" we are hearing,ie MTF not interested in HNZ's proposals,HNZ are the competition are far from being correct.I would think most dealers would see TNR as their competition,and I think the majority of MTF shareholders would be keen sellers into a takeover.