In brief imho the excess debt is a seperate CK/Vod debt Nothing to do with Hta, Hta has 25% of the tpg2 debt.
Hta get dividends from tpg2, Hta pays dividends to S/h which inturn pays CK inturn pays down his debt
Imho Hta should be worth 25%of tpg2 s/p
or 10x dividend paid. If approved by ACCC, please correct me if wrong or time may or may not
HTA shareholders - no new shares?, page-85
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