Can only imagine that its a case of 1 arm of DB saying one thing i.e. our total holdings / all divisions and companies are 8.22%, and another arm saying the holding we handle of 36.3m shares has gone up by 511k shares to 36.82m.
Anyway I am still holding - my initial purchase before the Hoctief announcement is in profit and my top up purchase is down a little.
I think the market has shown a little impatience in driving the share price down from the 72p level reached earlier this month. Its clearly too soon to hear again from Hoctief but I am convinced we will.
Basically my reasoning is that :
* Airports are a scarce resource and a fast appreciating resource in an expanding industry
* Add to that the opportunities that an aviation group purchasing them would have to reduce management/overhead costs
* Plus the chief TBI shareholder is apparently prepared to listen to offers
* and the Board seem determined to extract full value versus the potential of the company but have had a dose of realism of what that might be from the experience of asking too much from the French last year
Worth holding to see the outcome in my view - would like to see go for over 75p, with 80p+ hopefully!
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