From: heinz blasnik Thursday, Apr 12, 2001 10:18 AM
View Replies (2) | Respond to of 93474
ALL: it has been brought to my attention that the Greek Conseil d'etat, against all odds, appears bent on blocking TVX's Greek project. obviously somebody must have known in advance, as this explains the collapse in the share price. i do hope this will be investigated, and intend to file a complaint. it also means that i will most likely be getting out of the stock and eat the loss, since the rationale for owning it has hereby disappeared. i'm sorry i ever mentioned it...will assess tonight whether the current price is justified without the Greek asset, since it may by now adequately priced anyway. however, i'm not very optimistic that i will come to a positive conclusion.
i find it scandalous that this comes now out by way of rumor, after those in the know have a had a chance to dump their shares.
note: there isn't even an official announcement yet...the Greek Conseil d'etat has instead chosen to now leak the outcome of its deliberations to the press. this after several years of engagement by TVX in Greece, and investment of 350 million dollars, as well as favorable lower court decisions and environmental reports.
my first though was that TVX may be able to claim some of the invested money, since they've been basically buggered by the Greeks...but no, the plan is to even attempt to seize some of their assets to finance reclamation of the mess left behind by TVX's predecessors. although this sounds at first glance ridiculous, nothing would surprise me anymore. |
