Southern Cross update

I've posted an update on Southern Cross over at Shareworld.  There have been a few rumours flying around recently - the Sunday Times reported that their banks were willing to waive covenants (which is good, since I reckon they are within a whisker of breaching them), and the Sunday Telegraph thinks that Blackstone is considering a takeover bid.  That really would be news - Blackstone is the group that originally built the group and engineered the sale and leaseback that has left it with its present difficulties.

Their full year results are out on the 9th December, and I think we can probably expect some sort of update at that time.  In the meantime their shares will probably continue their rollercoaster ride.