Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Fully-listed Interserve (IRV) announced some details of its deleveraging plan – aka debt for equity – and the market has responded very positively. Certainly, on the face of it shareholders might think they’ve got off lightly. But there are a few questions which might make the market rethink its positive response.
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