11-12-2013, 11:55 AM
Palm:
The National has rehashed the original Bloomberg so-called Article.
To my opinion, PNG doesn't have to up the ante.
According to an old Japanese proverb: "CONTRACT IS CONTRACT"
This proverb was followed when IOC paid back all of Mitsui's sunk costs on the CSP development with requisite interest. No questions asked.
The key points in play here are:
1) "There is a condition in the agreement that the government could buy back the shares before the maturity period, which is March next year."
2) "It is understood that a number of investment banks had made presentations to a government team, outlining financing proposals for the buy back.
The government, led by IPBC and Treasury officials, was yet to decide on which financing option to utilise."
My view is that Mansour can do as much watching as he wants ... when PNG gets the financing arranged << and they will >> they get the shares back from IPIC.
The National has rehashed the original Bloomberg so-called Article.
To my opinion, PNG doesn't have to up the ante.
According to an old Japanese proverb: "CONTRACT IS CONTRACT"
This proverb was followed when IOC paid back all of Mitsui's sunk costs on the CSP development with requisite interest. No questions asked.
The key points in play here are:
1) "There is a condition in the agreement that the government could buy back the shares before the maturity period, which is March next year."
2) "It is understood that a number of investment banks had made presentations to a government team, outlining financing proposals for the buy back.
The government, led by IPBC and Treasury officials, was yet to decide on which financing option to utilise."
My view is that Mansour can do as much watching as he wants ... when PNG gets the financing arranged << and they will >> they get the shares back from IPIC.
Drivel Maven with Personality