Ann: Conclusion of NZ sale process and update on debt refinancing, page-33

Maybe you could give us advice on how you restrain yourself... i keep demonstrating my overconfidence.

As a general principle, i think its better to look to the timing, rather than the price, if they had have got a good price it would have been a buy signal, but its not.

Key events coming up will be around ASC contracts and full year results, specifically cash flow, because that's what can be used to reduce debt.

NBN market share data will be interesting for the trends, due in a few weeks, but more important for other telcos than us.

As the SP is being pushed down due to debt concerns, one key date will be May next year when a $510m+$75m debt mature. I assume given the wording this morning they intend to refinance and renegotiate terms before the banking covenant drops back to 3.0 again.