Breakfast Deals: Perpetual prized

The Trust Company looks likely to favour Perpetual as its preferred suitor, while Rod Sims has some words of warning for Telstra.

A share price bounce and a helpful independent report from Ernst & Young have made Perpetual firm favourite to win The Trust Company over rival bidder Equity Trustees. Meanwhile, Adam Internet probably won’t have to wait long before a suitor takes Telstra’s place, Billabong International has pressed the ‘go’ button on its Altamont deal and Fortescue Metals Group’s perceived need to sell a minority stake in its infrastructure has eased after yesterday’s production report.

The Trust Company, Perpetual, Equity Trustees

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