Have your say . SingTel has been conned into paying a price which appears to be way, way over the top, yet, perversely, shareholders in the target will receive a hotch-potch consideration of questionable value.
Daily turnover averages six million.
They will certainly exert intense pressure on SingTel to renegotiate the purchase terms to better reflect the value of the target. Otherwise, they'll keep selling down the stock until that price is reached. These numbers are academic and are likely to drop lower. It is safe to say few will want SingTel stock. They sold 70 million shares yesterday, preferring to cash up now rather than take their chances with the fuzzy offers coming out of Singapore.