Post by
Amadeus on Aug 26, 2024 12:33pm
CITGO Sale
A Bloomberg article on Saturday (24th) suggests that Elliott Investment Management is the leading bidder in the forthcoming auction. However it is competing against rival bids from Gold Reserve, Vitol and Icahn's CVR Energy. Special master R. Pincus asked the judge to delay any finalisation until Sept 16th (from Aud. 22nd). If granted, this would move the sale hearing until November 7th.
This would still need ratification by OFAC.
Given the current political pressure on VZ after one of the most autocratic abuses of electoral process in modern times, it seems unlikely IMO that this will not be forthcoming. GLA.
Comment by
Hopeful123 on Aug 26, 2024 12:37pm
Did you say a sale is not happening.
Comment by
Amadeus on Aug 27, 2024 11:11am
Hopeful. No, the atricle didn't say that. It explained that the assessment and finalisation of bids had been delayed from August 22nd to September 16th to give more time. The 2nd paragraph in that post were my views, not part of the article.
Comment by
Hopeful123 on Aug 28, 2024 8:06pm
Do you see our stock trading at 2 bucks.