Mr. David Duffy:

Historical experience tells us that if one sells in a series of steps to a series of investors who are valuing their entry at the maximum amount the shareholder can get, based on a strategy, one will not be subject to the whole thing changing again. Any strategy pursued by the largest bank in the country which is critical to the sovereign in the current construct must involve a stable, maximised value process. It is likely that there will be a series of steps, although this has not yet been determined.