RE: Oh god... it's the turn of the rampers today!25 Sep 2019 08:27
MavD - Too right, this thing has more value than 185p. The mortgage book is worth more current MCAP than that on a portfolio transfer basis. The customer intangible is worth atleast £200 a customer = £400m.
I do not know and I do not claim to know. But these types of articles always appear after a massive slide. Just like Bruce Toll's wait, pray and maybe buy piece in the Bloomberg a month ago. Their advisors may have a lot of useful info and may think the market has got it really wrong.
Do you really care about a lousy £10-30mn FCA fine when this thing is losing £170m in mcap a day? I work for a FCA regulated business and we consider any such fines as a cost of doing business. In most cases it is always cheaper to pay the fine then spend millions on mitigating risks which may never materialise.