I had a look over the buy back booklet. I don't really care -...

I had a look over the buy back booklet. I don't really care - but it is a total disgrace. The remaining asset is Baycorp. That is the asset that matters. Deloitte have managed to barely even touch on the value of Baycorp against its peers both here and overseas. They must have had great difficulty avoiding mentioning the elephant in the room.

There are changes to the credit reporting regime coming through - and these changes may either be extremely good or extremely bad for baycorp. I would guess extremely good based on this deal arising in the way it has.

I am no expert - but my gut feel based on the independent experts report is that you are possibly being severely ripped off if you take part.

Good luck - hope you do your homework