Beware of the Mighty River Power spin

Local institutional investors are giving little away ahead of submitting their bids for Mighty River Power stock tomorrow and on Wednesday.

What some are saying, though, is don’t believe everything you read in the papers, especially in the Australian press.

“There’s certainly a fair amount of spin going on,” said one local fund manager when NBR ONLINE asked him about a report in the Australian Financial Review that said “early bids” suggested demand to be healthy, “pricing in the mid-to-top end of the offer range”.

 

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