Forum Archive Index - January 2001

["tennyson@caverock.net.nz" <tennyson@caverock.net.nz>]

> 
>An interesting article Bloomberg.  Anyone hoping
>Edison will shortly be making an offer for all the CEN
>shares it doesn't already own will be sorely
>disappointed by this bit of news.
> 
>'Edison International said it won't pay $596 million
>in bills because it doesn't have the cash, pushing the
>owner of California's second- largest utility closer
>to a bankruptcy filing.
>
Sarah, I agree that the prospect of Edison taking over
Contact is now nil.  There have been statements made in
the New Zealand market that Edison are happy with their
New Zealand investment and will not be selling it.  
Well, they could hardly be expected to say anything
else.  If they were thinking of selling they would
hardly be talking the price down.  I will stick my neck
out and say that within a year Edison will have sold
out of Contact.

This isn't necessarily bad for Contact shareholders as
the new cornerstone shareholder may look to increase
their stake. SNOOPY



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