Ann: Air New Zealand Completes Sale of 19.98% Virgin Shareholding,VAH-AIR.NZ, page-3

Agreed. A lot of uncertainty around the AIZ stake now turned into an interesting opportunity re Chinese inbound tourism (and the regulatory approval as well as the air traffic rights are already sorted too).
Can someone explain the following to me: With the oil price where it is now (and VAH finally being able to pay those price levels rather than the high hedged prices in the past), Brexit and AUS election soon be old news and overall pax numbers still growing, would not all fundamentals point to healthy profits in the first half of 2017 (which starts at the end of next week)? Aren't share prices supposed to reflect investors expectations re future profits? To me it seems that all bad news are priced in and that the shares are now oversold. When accounting for the proposed CR, even Nashan (and all other substantial shareholders) will have paid (on average) more than today's market price... Where is the catch?