Hmmm, they paid $400 million for the rights to the exorcist. Surely they can afford to buy sky nz for $400 million....
and then ogg can freely exorcise his nicholas cage demons.
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The real kick in the guts for any notion of a 'deal' being done is that it has now been almost 5 weeks since the Investor Day.
If the Board were enthusiastic for any of the deals, I would have thought something would have been signed off by now.
Doesn't mean that they aren't still negotiating with one of the parties...but the more time that goes on, the less likely it seems.
Honestly, once a deal has been agreed in principal...the financial advisors do not take weeks on end to work out relative valuations, dot the i's and cross the t's.
I reckon every one of the ‘unsolicited approaches’ was low ball, opportunistic.
No deal was ever likely.
Jarden were just pulled in to ward them off. Defensive move.
No way does it take 5 weeks and counting to wrap a deal up.
So now we speculate what sky are going to do with the surplus cash.
I don't think they'll be doing anything like that especially if the property sale is not going ahead. Free cash flow will be invested on setting up booths to advertise broadband in Silvia park. Anyone holding this company needs to have patience, I don't see any catalyst on the horizon for a big jump other than OGGs wet dream. The market has completely lost faith in this business, the proof will have to be in the numbers and thoes numbers will be lackluster until the 'invest for growth' period proves itself.