AFR’s comments re Metcash
The following comments were in the AFR this week. The rest is behind a paywall but you can get the gist of what they’re saying. “Shareholders move against Metcash as hardware spin-out hopes fade. All is not well at Metcash, the retailer and wholesaler behind brands like IGA and The Bottle-O. Putting aside the lacklustre share price performance, there are also deep concerns around the prospect of Metcash’s Independent Hardware Group, the real standout and home to well-known hardware brands like Mitre10, Home Hardware and Total Tools.” I hadn’t heard that there were plans to spin-out the hardware division but do you think it’s likely and would it make sense for MTS to do it? Do you think there’s any substance to the AFR’s comments and seeing that Metcash is still on your hitlist, am I right to assume that MM is still bullish on MTS?
