Saturday 28/3/2009 Page: 81

"In our view, this value gap is likely to persist while BBW remains a listed entity and can only be closed through a private market transaction, or series of transactions, leading to the ultimate sale of BBW." BBW board's should crystallise and maximise security holder value as soon as practicable by testing market appetite for the assets and moving to their eventual sale, TCI said in its letter to BBW investors.
BBW operates 41 windfarms in the Asia Pacific, Europe and North America. BBW chairman Graham Kelly said directors agreed the price of BBW did not reflect the value of its business.
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