RE: Soon To Be Over"The lending commitment expires on Dec. 11."
Gee...I guess another way to put that is that the deal closing date is Dec. 11th.
The only time you're positive about the deal is when you're long. Otherwise, you post negative things.
I read that you sold your shares a few days ago, pepe. So far, that was a good move. Congrats.
But it seems to me that your'e now hoping the deal will fail in order to justify your decision to sell rather than collect $42.75 if the deal closes as scheduled.
So is it now your belief that the deal won't close? Make the call.
BTW, if Citi or any of the lenders does not come up with the money, the Purchasers will sue them immediately. And it would not let the other lenders off the hook.
"One thing for sure come Monday morning we will find out CITI's new look. "
For sure? No. There might be NO news come Monday morning. There are many options, and I have little faith in the gang that couldn't shoot straight who run Citigroup. With so many options, it wouldnt' surprise me if nothing got decided. Pandit is a horrible leader. Completely out of touch. However, I agree that it IS probable to happen before open on Monday. I sure hope so! The sooner - the better. It may not be a "new look" at all. Who knows.
Oh, btw, that $13 billion you mentioned is CAD. So it's about $10 billion that Citi needs to come up with.
As they keep reassuring everyone...they have the money. No question about it. They certainly DO have the liquidity to fund this deal. So the question is...are they going to stiff BCE just because they are "tight" and dont' want to lend the money? We shall see.