big buy out for cml, page-14

If this is a genuine approach by the likes of Tesco or Walmart, its gonna run big time.

I've never been a CML man, I have accumalated 30,000+ WOW shares since the 1993 IPO on the grounds that whatever CML can do, WOW can do better, which is certainly the case.

However, the key point in all this is that there has been a large valuation gap between Australian and overseas retailers. Walmart typically trades at $1 of market cap per dollar of annual sales, whereas the historical valuations for CML, WOW has been closer to 50c market cap per dollar of sales. Admitedly there are some factors such as size of domestic market which accounts for this, but not to such an extent.

Suffice to say, that I have always kept at the back of my mind that my ultimate end-game million dollar pay-day would come when international retailers entered the local scene (and I am not talking Aldi).

Anyway, thats how I see things panning out if the CML talks involve the likes of Tesco/Walmart.

Not a foregone conclusion, but game on from here.