Japan Post, a government entity, thinks Toll is worth $A6.5 billion says much about the Australian’s company’s business.
But the company has yet to include provisioning in its accounts for the possible loss of its dispute with IRD as a key Court of Appeal decision is still pending.
Haggling over the details of the government buyback of Toll Holdings' rail business in New Zealand will go right to the wire today.
The deadline is midnight today and late yesterday agreement on all aspects of the deal had not been reached.
Plans are in place for a big revelation of the new look of the business at Wellington's railway station on Tuesday.
In May the Government and Toll announced a heads of agreement for the government to buy Toll's rail and ferry assets for $665m. There are another $25m of associated costs.
The Toll Holdings directors who bought shares in their company ahead of the announcement of the sale of rail assets to the New Zealand government have now lost money on the purchase.
The sale of the business to the Crown announced on May 5 has been called the "con job of the century" by unnamed sources because the Toll Holdings share price spiked higher on the exit from "a pig of a business".