What's in the News, page-1920

AFR is pretty scathing of the CEO and his ability to get capital partners on board with his strategy/projects.

"Street Talk is told on offer was 13 per cent to 15 per cent internal rate of return, which went down like a lead balloon with several funds who argued the number should be much higher given the huge development risk attached to the early-stage sites. Some, including AustralianSuper, scoffed at the idea of paying ongoing management fees to NextDC as previously reported by this column. Of note, AusSuper’s listed equities team increased its shareholding in the listed entity to 8.49 per cent in November, weeks after its unlisted assets units smacked down the JV proposal.But the last straw for investors was understood to have been NextDC’s reluctance to part with governance rights for the joint venture. Sources said Scroggie had wanted to retain control of the JV’s board, despite asking these parties to chip in $12 billion of the $15 billion total."

Talk about putting lipstick on a pig

https://www.copyright link/street-talk/nextdc-s-capital-partnership-process-hits-snag-banker-swap-under-way-20251210-p5nmmw