Reviewed a little more on this brand JV with Vok. imo a desperate act and raising of a white flag for a company that should have a core competency of sales and marketing. A decision made by the Chief Accountant i'd presume.
See today too that Constellation are out looking at Aus/UK refloat and trade sale options. This won't assist with FGL options to remove the wine anchor.
This co continues to be a lost opportunity and mgmt underwhelms. It sits on my long term watch (and wait) list.
FGL Price at posting:
$4.48 Sentiment: None Disclosure: Not Held