Farrow announced his intention to resign at the same time NZ was...

Farrow announced his intention to resign at the same time NZ was announced to be sold, but i dont see them as related. Bowen and Mansfield are very close afaik, i doubt either would double-cross each other. I expect Bowen is happy to have Mansfield head the board for his own sake as a shareholder as much as anything, knowing the market would like the move. They did try and appoint Mansfield as head earlier and he refused, only accepting as deputy to Bowen.

The NZ Sale is the biggest price driver now imo, if it gets sold off at higher EV/EBITDA than the group as a whole, the rest of the group is more of a bargin than it has ever been,and also carrying less risk (from debt) than it has in a long time. When there is a clear indication of price i expect things will move very fast, volume and price.

On the other hand, one of the reasons PE wanted to buy it was to break it up, with NZ being Sold, and Data Centers next in line, Vocus management are already unlocking the value that PE saw, so there is less in it for them.

Also it would be very difficult for a hostile takeover bid to succeed now with John Ho on the board, who has 18% economic interest (although only 10% direct interest i think). A friendly takeover by PE at less than their previous indicative price of $3.50 is also hard to imagine.

Its all about NZ price for a few months imo.