Quote Originally Posted by CJ View Post
But it has to be a distraction. Given it is such small part, you wonder why they just dont liquidate. It will probably be a long time, if ever, for them to see a gain to warrent the long holding period.

If you go back far enough, Morrison and Co set up a separate company to invest in Australia and overseas (Utilico???) but it flopped. They have now figured out Australia but they should have stayed in this part of the world, not boosted their egos but operation in Europe as well.
Morrisons management fees are where the real money is being made, not Infratil. Energy assets are the only ones that have really shone recently, (like that's anything unusual compared to any other energy stock around the world). Just another top heavy investment company paying very high management costs and fees, my 2 cents.