well most of the 10 billion of intangibles is represented by 2 things.
About 7 billion dollars worth of "licenses" and about 2 billion dollars worth of goodwill.
Most of the "license"value seems to be the $5.6 billion they paid for sydney airport.
Which is OK as long as nothing happens to suddenly devalue the earning power derived from the licenses ( effectively, the value of the monopolies )
