Nine Entertainment is still trying to decide the best action for its DHG stake. The “word on the street” is they are a keen seller, but to whom and at what price? This is a very different dynamic from REA. As we said a few weeks ago, “MM still prefers an expensive REA over a cheap DHG.”
- We like REA and RMV as dominant players in their respective countries. DHG remains a distant second in Australia; hence, we have no interest in an industry dominated by the leaders.
MM is neutral towards DHG
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