Seeing that The Australian published a follow-on shows that...

Seeing that The Australian published a follow-on shows that their leak was not from a bidder, but a financial participant who thought they had a window to make a trade.

My view is that a bidder would not leak this as a bargaining tactic, as Vocus could simply respond as they did.

My view is that the leak was a financial player thinking they had a window to make a scare trade.

Mark my words, the NZ business will be sold one way or another and not for 4x EBITDA but 7-8x EBITDA in aggregate (enterprise higher, consumer lower).