Ann: Seymour Whyte Announces Recommended Scheme with VINCI, page-9

Toh, I agree. You just have to look at the numbers. It is only a relatively small company and tax free entities (eg. some smsf's and charities) have a great appetite for these type of transactions.

Given the small amount of risk, I suspect that the price will rise so the profit for 0% entities will fall to about 5% to 6% . This profit reflects the purchasers need to make a profit, time cost of money (franking credits not received for a year) and the small risk associated with this transaction.