Delay in $7bn Shell sale could hit Woodside raisings | The Australian
EQUITY raisings by Woodside Petroleum to fund its growth projects could be complicated by a possible delay in Royal Dutch Shell's sale of its $7 billion stake in the Perth oil and gas giant because of weak markets.
As the year-long restriction on Shell selling its 24 per cent stake winds down, JPMorgan analyst Benjamin Wilson said the oil major was unlikely to sell into the market at present prices because it would get only about $30 a share -- a steep discount to the $42.23 achieved in its earlier selldown.
Photo Damian Kelly
ACTION OF THE DAY
A MAJOR national bank has been forced to remove more than 100 misleading out of order signs from its ATMs after being targeted by anti-coal activists.
A MAJOR national bank has been forced to remove more than 100 misleading out of order signs from its ATMs after being targeted by anti-coal activists.
A score of ANZ Banking Group machines sprawled across six capital cities were plastered with "out of order" signs on Sunday after campaigners launched their latest bid to draw attention to the bank's funding of the coal industry.
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A failed or weak outcome on the Euro debt problems could see woodslide down into the $25 to $28 range in a couple of weeks.If that were to happen it would seem obvious that Browse is the lemon out of the LNG projects,and cancellation rumours will be rife.Way too expensive and way too risky.And a favourable result for Phillip could really tip the scales.
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