Forum Archive Index - August 2003

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

Hi Shayne,

> 
> So based on what you have said, im assuming you think GPG's tactics
> regarding TWR are bewildering to you?
> 

No and Yes.   I know that GPG are going to try and take control of 
Tower, with the ultimate aim of selling their stake on to some other big 
player.

However, I'm not sure what big other player will be interested.  I'm not 
sure if TWR will be digestible to whoever takes it on, and that may 
slow its disposal.   I don't know the true value of the TWR business, or 
even how to work it out.  I am sure that GPG would rather buy shares 
at 90c and not $4.

I suspect that GPG will come out OK from their involvement, given their 
track record.   But exactly what the profit in it will be for them, I would 
have to guess.   What we have here is TWR investors betting on a 
completely unknown outcome.   This is speculation.    Probably good 
speculation, but nevertheless not something I would class as a long 
term investment proposition.  There are just too many unknowns.

SNOOPY

discl: no shares held (TWR or GPG)


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